Centerspace (NYSE:CSR) Updates FY 2024 Earnings Guidance

Centerspace (NYSE:CSR) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 4.780-4.920 for the period, compared to the consensus EPS estimate of 4.790. The company issued revenue guidance of -.

Analyst Upgrades and Downgrades

CSR has been the subject of a number of research reports. Compass Point cut shares of Centerspace from a buy rating to a neutral rating and boosted their price target for the stock from $65.00 to $68.00 in a research note on Friday, May 3rd. Piper Sandler upped their target price on shares of Centerspace from $64.00 to $75.00 and gave the stock a neutral rating in a research report on Wednesday, July 31st. Raymond James upgraded Centerspace from a market perform rating to an outperform rating and set a $75.00 price target on the stock in a research report on Friday, May 24th. Finally, Royal Bank of Canada lifted their price target on Centerspace from $72.00 to $73.00 and gave the stock an outperform rating in a research note on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $69.86.

Centerspace Trading Up 0.5 %

Shares of CSR stock traded up $0.32 on Wednesday, hitting $70.35. 959 shares of the company’s stock traded hands, compared to its average volume of 90,420. The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of -87.54, a P/E/G ratio of 2.09 and a beta of 0.88. The company’s fifty day simple moving average is $68.60 and its 200 day simple moving average is $63.03. Centerspace has a one year low of $46.74 and a one year high of $71.50. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.04 and a current ratio of 0.04.

Centerspace (NYSE:CSR) last announced its quarterly earnings data on Monday, July 29th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.20 by ($1.39). 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 for the quarter, compared to the consensus estimate of $65.90 million. During the same period last year, the business posted $1.28 earnings per share. Equities analysts forecast that Centerspace will post 4.82 EPS for the current year.

Centerspace Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 10th. Shareholders of record on Friday, June 28th were paid a $0.75 dividend. 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 4.26%. Centerspace’s dividend payout ratio (DPR) is currently -375.00%.

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.