Centerspace (NYSE:CSR) Announces Earnings Results, Misses Expectations By $1.39 EPS

Centerspace (NYSE:CSR) announced its quarterly earnings results on Monday. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.20 by ($1.39), Yahoo Finance reports. Centerspace had a negative net margin of 2.16% and a negative return on equity of 0.67%. The company had revenue of $65.04 million during the quarter, compared to analyst estimates of $65.90 million. During the same period in the previous year, the firm posted $1.28 earnings per share.

Centerspace Stock Up 1.2 %

CSR traded up $0.81 during trading on Wednesday, reaching $69.83. 268,838 shares of the stock traded hands, compared to its average volume of 91,448. Centerspace has a fifty-two week low of $46.74 and a fifty-two week high of $71.50. The stock’s 50-day simple moving average is $68.37 and its two-hundred day simple moving average is $62.53. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.04 and a quick ratio of 0.04. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of -86.66, a price-to-earnings-growth ratio of 2.05 and a beta of 0.88.

Centerspace Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 10th. Investors of record on Friday, June 28th were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $3.00 dividend on an annualized basis and a yield of 4.30%. Centerspace’s payout ratio is -375.00%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Compass Point downgraded Centerspace from a “buy” rating to a “neutral” rating and lifted their target price for the company from $65.00 to $68.00 in a research report on Friday, May 3rd. Piper Sandler upped their price objective on Centerspace from $64.00 to $75.00 and gave the stock a “neutral” rating in a report on Wednesday. Royal Bank of Canada upped their price objective on Centerspace from $72.00 to $73.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, Raymond James upgraded Centerspace from a “market perform” rating to an “outperform” rating and set a $75.00 target price on the stock in a research report on Friday, May 24th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $69.86.

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.