Centerspace (NYSE:CSR) Announces Earnings Results, Beats Expectations By $7.13 EPS

Centerspace (NYSE:CSR) released its quarterly earnings results on Monday. The company reported $7.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $7.13, FiscalAI reports. Centerspace had a net margin of 7.97% and a return on equity of 2.58%. The company had revenue of $59.52 million for the quarter, compared to the consensus estimate of $62.74 million.

Centerspace Trading Up 1.3%

Shares of CSR traded up $0.73 during midday trading on Monday, hitting $59.17. The stock had a trading volume of 218,128 shares, compared to its average volume of 175,317. The stock’s 50 day moving average is $55.42 and its 200 day moving average is $59.58. The firm has a market cap of $995.26 million, a PE ratio of 46.96 and a beta of 0.82. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.03 and a quick ratio of 0.03. Centerspace has a 1 year low of $52.00 and a 1 year high of $69.61.

Centerspace Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 14th. Stockholders of record on Tuesday, September 29th were paid a $0.77 dividend. The ex-dividend date of this dividend was Tuesday, September 29th. This represents a $3.08 annualized dividend and a dividend yield of 5.2%. Centerspace’s dividend payout ratio is currently 244.44%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CSR. Cantor Fitzgerald restated a “neutral” rating and issued a $57.00 target price on shares of Centerspace in a report on Thursday, September 10th. Royal Bank Of Canada lowered their price target on shares of Centerspace from $67.00 to $64.00 and set an “outperform” rating for the company in a report on Wednesday, August 5th. UBS Group lowered their price target on shares of Centerspace from $68.00 to $65.00 and set a “neutral” rating for the company in a report on Wednesday, October 14th. Compass Point upgraded Centerspace from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $64.50 to $80.00 in a research report on Wednesday, September 9th. Finally, Wells Fargo & Company reduced their price objective on Centerspace from $57.00 to $53.00 and set an “equal weight” rating on the stock in a research note on Monday, October 19th. Two analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $62.50.

About Centerspace

Centerspace (NYSE:CSR) is a real estate investment trust focused on the ownership, acquisition, development and operation of multifamily apartment communities. The company provides residential housing through a portfolio of apartment properties and generates revenue primarily from rents and related resident services.

Centerspace serves markets in the Mountain West and Midwest, with communities located in states including Colorado, Minnesota, Montana, Nebraska, North Dakota and South Dakota.