Centerspace (NYSE:CSR) Updates FY 2022 Earnings Guidance

Centerspace (NYSE:CSRGet Rating) updated its FY 2022 earnings guidance on Tuesday. The company provided EPS guidance of $4.45-$4.61 for the period. The company issued revenue guidance of -.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CSR. Piper Sandler reduced their price objective on shares of Centerspace from $100.00 to $95.00 and set an overweight rating for the company in a research report on Wednesday, July 20th. Raymond James reissued a downgrade rating on shares of Centerspace in a research note on Thursday. Royal Bank of Canada boosted their target price on shares of Centerspace from $82.00 to $86.00 and gave the stock a sector perform rating in a research report on Wednesday. Finally, Compass Point set a $90.00 target price on shares of Centerspace in a research report on Monday, June 20th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $102.57.

Centerspace Stock Down 0.9 %

Shares of CSR traded down $0.73 during trading hours on Friday, hitting $84.05. 64,765 shares of the company were exchanged, compared to its average volume of 75,441. The company has a market cap of $1.29 billion, a PE ratio of -35.02, a PEG ratio of 2.70 and a beta of 0.91. The firm’s 50 day moving average is $81.62 and its 200-day moving average is $89.71. Centerspace has a 52 week low of $74.99 and a 52 week high of $112.27. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.04 and a current ratio of 0.04.

Centerspace (NYSE:CSRGet Rating) last issued its earnings results on Monday, August 1st. The company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.33. Centerspace had a negative return on equity of 3.13% and a negative net margin of 12.20%. During the same period in the previous year, the firm posted $0.95 earnings per share. On average, equities research analysts forecast that Centerspace will post 4.53 EPS for the current fiscal year.

Centerspace Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 11th. Stockholders of record on Thursday, June 30th were issued a $0.73 dividend. This represents a $2.92 annualized dividend and a dividend yield of 3.47%. The ex-dividend date of this dividend was Wednesday, June 29th. Centerspace’s payout ratio is -121.67%.

Insider Buying and Selling

In other Centerspace news, Director Mary J. Twinem purchased 900 shares of the company’s stock in a transaction dated Wednesday, June 1st. The stock was bought at an average cost of $82.48 per share, for a total transaction of $74,232.00. Following the completion of the transaction, the director now owns 6,577 shares in the company, valued at $542,470.96. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Mary J. Twinem purchased 900 shares of the stock in a transaction dated Wednesday, June 1st. The stock was bought at an average cost of $82.48 per share, for a total transaction of $74,232.00. Following the completion of the acquisition, the director now owns 6,577 shares of the company’s stock, valued at $542,470.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Rodney Jones-Tyson purchased 595 shares of the stock in a transaction dated Monday, May 16th. The shares were bought at an average price of $84.82 per share, with a total value of $50,467.90. Following the completion of the acquisition, the director now directly owns 595 shares of the company’s stock, valued at approximately $50,467.90. The disclosure for this purchase can be found here. 0.86% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. increased its stake in Centerspace by 2.2% in the first quarter. BlackRock Inc. now owns 2,736,058 shares of the company’s stock valued at $268,463,000 after acquiring an additional 58,404 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Centerspace by 1.6% in the first quarter. Vanguard Group Inc. now owns 2,306,306 shares of the company’s stock worth $226,294,000 after buying an additional 37,063 shares during the period. Wellington Management Group LLP lifted its holdings in Centerspace by 27.8% in the first quarter. Wellington Management Group LLP now owns 1,180,660 shares of the company’s stock worth $115,846,000 after buying an additional 257,030 shares during the period. State Street Corp lifted its holdings in Centerspace by 15.6% in the first quarter. State Street Corp now owns 887,776 shares of the company’s stock worth $87,742,000 after buying an additional 119,848 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in Centerspace by 0.3% in the first quarter. Dimensional Fund Advisors LP now owns 215,555 shares of the company’s stock worth $21,151,000 after buying an additional 650 shares during the period. 80.68% of the stock is owned by institutional investors.

Centerspace Company Profile

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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 June 30, 2021, Centerspace owned 62 apartment communities consisting of 11,579 apartment homes located in Colorado, Minnesota, Montana, Nebraska, North Dakota, and South Dakota.

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Earnings History and Estimates for Centerspace (NYSE:CSR)

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