Wedbush Has Positive Outlook of Centerspace FY2025 Earnings

Centerspace (NYSE:CSR - Free Report) - Equities research analysts at Wedbush raised their FY2025 earnings per share (EPS) estimates for Centerspace in a report issued on Monday, May 5th. Wedbush analyst R. Anderson now forecasts that the company will post earnings per share of $4.96 for the year, up from their previous forecast of $4.82. The consensus estimate for Centerspace's current full-year earnings is $4.94 per share.

Centerspace (NYSE:CSR - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $1.21 earnings per share for the quarter, meeting the consensus estimate of $1.21. Centerspace had a negative return on equity of 1.34% and a negative net margin of 4.34%. The business had revenue of $67.09 million during the quarter, compared to analysts' expectations of $66.70 million.

CSR has been the subject of a number of other research reports. BMO Capital Markets raised Centerspace from a "market perform" rating to an "outperform" rating and set a $77.00 target price for the company in a report on Friday, April 4th. Royal Bank of Canada boosted their price target on shares of Centerspace from $71.00 to $72.00 and gave the company an "outperform" rating in a research report on Monday, May 5th. Piper Sandler reduced their price objective on shares of Centerspace from $75.00 to $68.00 and set a "neutral" rating for the company in a research report on Monday, May 5th. Raymond James upgraded shares of Centerspace from a "market perform" rating to an "outperform" rating and set a $66.00 price target on the stock in a research report on Monday, April 21st. Finally, Wells Fargo & Company started coverage on shares of Centerspace in a report on Wednesday, March 19th. They set an "equal weight" rating and a $68.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Centerspace presently has a consensus rating of "Moderate Buy" and an average price target of $71.22.

Centerspace Stock Up 1.1 %

Shares of CSR stock traded up $0.64 during trading hours on Wednesday, reaching $61.19. 69,086 shares of the company's stock were exchanged, compared to its average volume of 110,794. The stock's 50 day moving average is $61.28 and its 200-day moving average is $64.77. The company has a market cap of $1.02 billion, a price-to-earnings ratio of -48.18 and a beta of 0.77. Centerspace has a fifty-two week low of $54.13 and a fifty-two week high of $76.16. The company has a current ratio of 0.04, a quick ratio of 0.05 and a debt-to-equity ratio of 0.74.

Centerspace Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 8th. Shareholders of record on Friday, March 28th were paid a $0.77 dividend. The ex-dividend date was Friday, March 28th. This is an increase from Centerspace's previous quarterly dividend of $0.75. This represents a $3.08 dividend on an annualized basis and a dividend yield of 5.03%. Centerspace's payout ratio is currently -275.00%.

Institutional Trading of Centerspace

Several hedge funds have recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC boosted its position in Centerspace by 370.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 381 shares of the company's stock worth $25,000 after purchasing an additional 300 shares during the period. Sterling Capital Management LLC raised its position in shares of Centerspace by 903.8% in the 4th quarter. Sterling Capital Management LLC now owns 522 shares of the company's stock worth $35,000 after acquiring an additional 470 shares in the last quarter. KBC Group NV increased its stake in Centerspace by 75.9% during the 4th quarter. KBC Group NV now owns 1,080 shares of the company's stock valued at $71,000 after purchasing an additional 466 shares in the last quarter. New Age Alpha Advisors LLC bought a new stake in Centerspace in the 1st quarter worth about $86,000. Finally, Summit Investment Advisors Inc. increased its position in Centerspace by 15.2% in the fourth quarter. Summit Investment Advisors Inc. now owns 1,732 shares of the company's stock worth $115,000 after buying an additional 229 shares during the last quarter. Institutional investors and hedge funds own 79.00% of the company's stock.

Centerspace Company Profile

Centerspace is an owner and operator of apartment communities committed to providing great homes by focusing on integrity and serving others. Founded in 1970, as of September 30, 2023, Centerspace owned interests in 71 apartment communities consisting of 12,785 apartment homes located in Colorado, Minnesota, Montana, Nebraska, North Dakota, and South Dakota.