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

Centerspace (NYSE:CSR) issued 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. The company had revenue of $65.04 million during the quarter, compared to the consensus estimate of $65.90 million. Centerspace had a negative return on equity of 0.67% and a negative net margin of 2.16%. During the same quarter last year, the firm posted $1.28 EPS.

Centerspace Stock Up 2.7 %

Centerspace stock traded up $1.87 during mid-day trading on Wednesday, reaching $70.89. 105,485 shares of the company were exchanged, compared to its average volume of 90,329. The business has a fifty day moving average of $68.37 and a 200 day moving average of $62.53. The firm has a market cap of $1.06 billion, a P/E ratio of -86.66, a PEG ratio of 2.05 and a beta of 0.88. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.04 and a current ratio of 0.04. Centerspace has a 12-month low of $46.74 and a 12-month high of $71.50.

Centerspace Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 10th. Shareholders of record on Friday, June 28th were issued 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 4.23%. Centerspace’s dividend payout ratio is presently -375.00%.

Analysts Set New Price Targets

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