Centerspace (CSR) To Go Ex-Dividend on September 29th

Centerspace (NYSE:CSR) announced a quarterly dividend on Tuesday, September 1st. Stockholders of record on Tuesday, September 29th will be given a dividend of $0.77 per share on Wednesday, October 14th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date is Tuesday, September 29th.

Centerspace has raised its dividend by an average of 0.0%annually over the last three years and has raised its dividend every year for the last 2 years. Centerspace has a dividend payout ratio of -832.4% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Centerspace to earn $4.50 per share next year, which means the company should continue to be able to cover its $3.08 annual dividend with an expected future payout ratio of 68.4%.

Centerspace Stock Up 0.4%

Centerspace stock traded up $0.23 during midday trading on Friday, hitting $55.40. 150,993 shares of the stock were exchanged, compared to its average volume of 368,578. The firm has a market cap of $930.45 million, a P/E ratio of 43.97 and a beta of 0.86. Centerspace has a 1 year low of $52.00 and a 1 year high of $69.61. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.03 and a quick ratio of 0.03. The company has a 50 day moving average price of $55.13 and a two-hundred day moving average price of $59.11.

Centerspace (NYSE:CSR) last posted its quarterly earnings data on Monday, August 3rd. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.06. The company had revenue of $65.78 million for the quarter, compared to the consensus estimate of $66.29 million. Centerspace had a return on equity of 2.58% and a net margin of 7.97%.Centerspace has set its FY 2026 guidance at 4.580-4.680 EPS. On average, sell-side analysts predict that Centerspace will post 4.67 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Centerspace

Institutional investors and hedge funds have recently bought and sold shares of the business. Avalon Trust Co boosted its stake in Centerspace by 36.3% in the first quarter. Avalon Trust Co now owns 709 shares of the company’s stock valued at $41,000 after acquiring an additional 189 shares during the period. Sound Income Strategies LLC lifted its holdings in shares of Centerspace by 67.4% in the 1st quarter. Sound Income Strategies LLC now owns 626 shares of the company’s stock worth $36,000 after purchasing an additional 252 shares during the last quarter. Amundi lifted its holdings in shares of Centerspace by 4.4% in the 1st quarter. Amundi now owns 11,052 shares of the company’s stock worth $635,000 after purchasing an additional 462 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in Centerspace by 16.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,611 shares of the company’s stock valued at $241,000 after purchasing an additional 500 shares during the period. Finally, Resona Asset Management Co. Ltd. boosted its position in Centerspace by 7.2% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 7,502 shares of the company’s stock valued at $431,000 after purchasing an additional 504 shares during the period. Institutional investors and hedge funds own 79.00% of the company’s stock.

About Centerspace

Centerspace (NYSE:CSR) is a self-administered and self-managed real estate investment trust focused on the ownership, management and operation of multifamily apartment communities. The company generates revenue primarily through apartment rents and related resident services, while seeking to provide well-maintained housing in markets with attractive employment and population trends.

Centerspace’s portfolio is concentrated in the Upper Midwest and Mountain West, with properties serving residents in states that have included Colorado, Minnesota, Montana, North Dakota, South Dakota and Wisconsin.