Centerspace (NYSE:CSR) Declares $0.75 Quarterly Dividend

Centerspace (NYSE:CSR) declared a quarterly dividend on Monday, December 2nd,NASDAQ Dividends reports. Stockholders of record on Monday, December 30th will be given a dividend of 0.75 per share on Monday, January 13th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 4.21%. The ex-dividend date is Monday, December 30th.

Centerspace has increased its dividend by an average of 1.4% per year over the last three years. Centerspace has a dividend payout ratio of -731.7% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Centerspace to earn $4.97 per share next year, which means the company should continue to be able to cover its $3.00 annual dividend with an expected future payout ratio of 60.4%.

Centerspace Price Performance

Shares of NYSE CSR traded down $1.21 during trading hours on Tuesday, reaching $71.18. 81,714 shares of the stock traded hands, compared to its average volume of 104,843. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.05 and a current ratio of 0.05. The company’s 50-day simple moving average is $71.44 and its two-hundred day simple moving average is $70.82. Centerspace has a 52-week low of $52.26 and a 52-week high of $76.16.

Centerspace (NYSE:CSR) last posted its quarterly earnings data on Monday, October 28th. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of $1.17 by ($1.57). Centerspace had a negative net margin of 5.57% and a negative return on equity of 1.72%. The firm had revenue of $65.03 million for the quarter, compared to the consensus estimate of $66.35 million. During the same period in the previous year, the firm posted $1.20 earnings per share. Equities analysts predict that Centerspace will post 4.86 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on CSR shares. Royal Bank of Canada restated an “outperform” rating and set a $76.00 price objective on shares of Centerspace in a research report on Wednesday, October 30th. BTIG Research boosted their price target on Centerspace from $69.00 to $79.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Finally, Raymond James lowered Centerspace from an “outperform” rating to a “market perform” rating in a research report on Monday, October 21st. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Centerspace has an average rating of “Hold” and an average price target of $76.00.

About Centerspace

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.