Centerspace (NYSE:CSR) Releases Earnings Results, Misses Expectations By $1.49 EPS

Centerspace (NYSE:CSR) announced its quarterly earnings data on Monday. The company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of $1.12 by ($1.49), Yahoo Finance reports. Centerspace had a net margin of 15.81% and a return on equity of 4.76%. The firm had revenue of $64.51 million during the quarter, compared to analyst estimates of $65.30 million. During the same quarter last year, the company earned $1.07 EPS. Centerspace updated its FY 2024 guidance to 4.740-4.920 EPS.

Centerspace Stock Down 1.3 %

Shares of Centerspace stock traded down $0.85 on Tuesday, hitting $63.87. 1,439 shares of the company traded hands, compared to its average volume of 79,364. Centerspace has a 12-month low of $46.74 and a 12-month high of $66.99. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.74. The company has a market cap of $951.02 million, a PE ratio of 27.78, a PEG ratio of 1.95 and a beta of 0.93. The company has a 50-day moving average price of $58.32 and a 200 day moving average price of $55.91.

Centerspace Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 8th. Shareholders of record on Thursday, March 28th were given a $0.75 dividend. This is an increase from Centerspace’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $3.00 dividend on an annualized basis and a yield of 4.70%. Centerspace’s dividend payout ratio is presently 128.76%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on CSR shares. Piper Sandler reissued a “neutral” rating and issued a $63.00 price target on shares of Centerspace in a report on Tuesday, March 26th. Royal Bank of Canada reiterated an “outperform” rating and issued a $63.00 target price on shares of Centerspace in a report on Friday, March 22nd. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $65.57.

Insider Buying and Selling

In other news, Director John A. Schissel bought 500 shares of the stock in a transaction on Monday, March 11th. The shares were purchased at an average price of $56.40 per share, for a total transaction of $28,200.00. Following the completion of the purchase, the director now directly owns 9,522 shares of the company’s stock, valued at approximately $537,040.80. The purchase was disclosed in a filing with the SEC, which is available through this link. 0.92% of the stock is owned by corporate insiders.

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.