Centerspace (NYSE:CSR) to Issue $0.77 Quarterly Dividend

Centerspace (NYSE:CSR) announced a quarterly dividend on Monday, June 1st. Investors of record on Monday, June 29th will be given a dividend of 0.77 per share on Tuesday, July 14th. This represents a c) annualized dividend and a dividend yield of 5.2%. The ex-dividend date of this dividend is Monday, June 29th.

Centerspace has raised its dividend payment by an average of 0.0%annually over the last three years and has raised its dividend annually for the last 2 consecutive years. Centerspace has a payout ratio of -832.4% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Centerspace to earn $5.05 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 61.0%.

Centerspace Price Performance

Shares of NYSE:CSR traded down $7.94 during midday trading on Tuesday, hitting $59.54. The company had a trading volume of 86,884 shares, compared to its average volume of 91,417. Centerspace has a twelve month low of $52.76 and a twelve month high of $69.61. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.03 and a quick ratio of 0.03. The business’s 50-day simple moving average is $64.27 and its 200-day simple moving average is $64.45. The stock has a market cap of $1.00 billion, a price-to-earnings ratio of 133.11 and a beta of 0.89.

Centerspace (NYSE:CSR) last announced its quarterly earnings results on Monday, May 4th. The company reported ($0.77) earnings per share for the quarter, missing the consensus estimate of ($0.29) by ($0.48). Centerspace had a net margin of 2.93% and a return on equity of 0.94%. The firm had revenue of $65.07 million for the quarter, compared to analyst estimates of $66.54 million. Centerspace has set its FY 2026 guidance at 4.810-5.050 EPS. On average, research analysts predict that Centerspace will post 4.9 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on CSR shares. Royal Bank Of Canada increased their price target on shares of Centerspace from $70.00 to $71.00 and gave the company an “outperform” rating in a research note on Wednesday, May 6th. Wall Street Zen raised shares of Centerspace from a “strong sell” rating to a “sell” rating in a research report on Sunday, May 17th. Piper Sandler upgraded Centerspace from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $69.00 to $72.00 in a research report on Tuesday, April 7th. UBS Group lifted their target price on Centerspace from $66.00 to $70.00 and gave the company a “neutral” rating in a research report on Thursday, May 14th. Finally, Weiss Ratings upgraded Centerspace from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, May 6th. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $69.60.

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. Centerspace was named a Top Workplace for the fourth consecutive year in 2023 by the Minneapolis Star Tribune.