Centerspace (NYSE:CSR) Issues FY 2024 Earnings Guidance

Centerspace (NYSE:CSR) updated its FY 2024 earnings guidance on Monday. The company provided EPS guidance of 4.820-4.900 for the period, compared to the consensus EPS estimate of 4.850. The company issued revenue guidance of -.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CSR. Royal Bank of Canada reissued an “outperform” rating and set a $76.00 target price on shares of Centerspace in a research note on Wednesday. Piper Sandler boosted their target price on shares of Centerspace from $64.00 to $75.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Raymond James lowered shares of Centerspace from an “outperform” rating to a “market perform” rating in a report on Monday, October 21st. Finally, BTIG Research boosted their target price on shares of Centerspace from $69.00 to $79.00 and gave the company a “buy” rating in a report on Monday, August 12th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $76.00.

Centerspace Trading Up 2.2 %

NYSE:CSR traded up $1.49 on Wednesday, hitting $70.60. The stock had a trading volume of 91,422 shares, compared to its average volume of 104,370. The company has a fifty day moving average price of $72.44 and a two-hundred day moving average price of $69.92. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.79. Centerspace has a 1-year low of $46.76 and a 1-year high of $76.16. The stock has a market cap of $1.08 billion, a price-to-earnings ratio of -43.87, a PEG ratio of 2.07 and a beta of 0.89.

Centerspace (NYSE:CSR) last issued its quarterly earnings data on Monday, October 28th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate of $1.17 by ($1.57). Centerspace had a negative return on equity of 0.67% and a negative net margin of 2.16%. The company had revenue of $65.03 million during the quarter, compared to analyst estimates of $66.35 million. During the same quarter in the prior year, the company posted $1.20 earnings per share. Equities research analysts expect that Centerspace will post 4.83 earnings per share for the current fiscal year.

Centerspace Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Monday, September 30th were issued a dividend of $0.75 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $3.00 dividend on an annualized basis and a yield of 4.25%. Centerspace’s dividend payout ratio (DPR) is presently -186.34%.

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.