Centerspace (NYSE:CSR) Updates FY 2024 Earnings Guidance

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

Wall Street Analysts Forecast Growth

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

Centerspace Trading Down 0.2 %

Shares of Centerspace stock traded down $0.13 during trading hours on Thursday, hitting $70.75. The company’s stock had a trading volume of 55,341 shares, compared to its average volume of 105,054. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.04 and a current ratio of 0.04. The stock has a market cap of $1.08 billion, a price-to-earnings ratio of -44.02, a P/E/G ratio of 2.07 and a beta of 0.89. Centerspace has a twelve month low of $46.76 and a twelve month high of $76.16. The firm has a fifty day moving average of $72.37 and a 200-day moving average of $69.93.

Centerspace (NYSE:CSR) last issued its quarterly earnings results on Monday, October 28th. The company reported ($0.40) earnings per share 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 for the quarter, compared to analysts’ expectations of $66.35 million. During the same quarter last year, the company earned $1.20 EPS. Research analysts forecast that Centerspace will post 4.83 EPS for the current year.

Centerspace Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Monday, September 30th were given 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 4.24%. Centerspace’s payout ratio is -186.34%.

About Centerspace

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.