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 4.740-4.920 for the period, compared to the consensus EPS estimate of 4.780. The company issued revenue guidance of -.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Piper Sandler reissued a neutral rating and set a $63.00 price objective on shares of Centerspace in a report on Tuesday, March 26th. Royal Bank of Canada boosted their price objective on shares of Centerspace from $66.00 to $68.00 and gave the stock an outperform rating in a report on Wednesday. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $66.29.

Centerspace Price Performance

CSR traded down $0.53 during midday trading on Thursday, reaching $68.27. 8,701 shares of the company’s stock were exchanged, compared to its average volume of 81,392. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.04 and a quick ratio of 0.03. The stock has a market capitalization of $1.02 billion, a PE ratio of -85.27, a P/E/G ratio of 2.02 and a beta of 0.86. The business’s 50-day moving average price is $58.55 and its 200 day moving average price is $55.99. Centerspace has a 1-year low of $46.74 and a 1-year high of $69.61.

Centerspace (NYSE:CSR) last posted its quarterly earnings data on Monday, April 29th. The company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of $1.12 by ($1.49). The firm had revenue of $64.51 million during the quarter, compared to analyst estimates of $65.30 million. Centerspace had a negative net margin of 2.38% and a negative return on equity of 0.73%. During the same period in the prior year, the firm earned $1.07 EPS. As a group, equities analysts anticipate that Centerspace will post 4.76 EPS for the current fiscal year.

Centerspace Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 8th. Stockholders of record on Thursday, March 28th were given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 4.39%. The ex-dividend date was Wednesday, March 27th. This is a positive change from Centerspace’s previous quarterly dividend of $0.73. Centerspace’s payout ratio is currently -375.00%.

Insider Activity

In other news, Director John A. Schissel acquired 500 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was acquired at an average price of $56.40 per share, with a total value of $28,200.00. Following the completion of the transaction, the director now directly owns 9,522 shares in the company, valued at approximately $537,040.80. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.92% 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.