Centerspace (NYSE:CSR) Releases FY 2024 Earnings Guidance

Centerspace (NYSE:CSR) updated its FY 2024 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of 4.820-4.900 for the period, compared to the consensus estimate of 4.850. The company issued revenue guidance of -.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Raymond James downgraded shares of Centerspace from an “outperform” rating to a “market perform” rating in a research report on Monday, October 21st. Piper Sandler increased their price objective on shares of Centerspace from $64.00 to $75.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Royal Bank of Canada reissued an “outperform” rating and issued a $76.00 price objective on shares of Centerspace in a research report on Wednesday. Finally, BTIG Research increased their price objective on shares of Centerspace from $69.00 to $79.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $76.00.

Centerspace Stock Performance

Shares of CSR stock traded up $1.49 during mid-day trading on Wednesday, hitting $70.60. The stock had a trading volume of 91,422 shares, compared to its average volume of 104,370. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.04 and a quick ratio of 0.04. Centerspace has a fifty-two week low of $46.76 and a fifty-two week high of $76.16. The company’s 50-day simple moving average is $72.44 and its 200-day simple moving average is $69.92. The firm has a market cap of $1.08 billion, a PE ratio of -43.87, a PEG ratio of 2.07 and a beta of 0.89.

Centerspace (NYSE:CSR) last released its earnings results on Monday, October 28th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.17 by ($1.57). Centerspace had a negative net margin of 2.16% and a negative return on equity of 0.67%. The company had revenue of $65.03 million during the quarter, compared to analysts’ expectations of $66.35 million. During the same quarter in the previous year, the firm posted $1.20 earnings per share. Sell-side analysts anticipate that Centerspace will post 4.83 earnings per share for the current year.

Centerspace Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Monday, September 30th were paid a dividend of $0.75 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $3.00 dividend on an annualized basis and a yield of 4.25%. Centerspace’s dividend payout ratio (DPR) is -186.34%.

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.