Centerspace (CSR) To Go Ex-Dividend on March 28th

Centerspace (NYSE:CSR) announced a quarterly dividend on Wednesday, February 19th, Wall Street Journal reports. Shareholders of record on Friday, March 28th will be paid a dividend of 0.77 per share on Tuesday, April 8th. This represents a $3.08 dividend on an annualized basis and a yield of 4.74%. The ex-dividend date of this dividend is Friday, March 28th. This is a positive change from Centerspace’s previous quarterly dividend of $0.75.

Centerspace has decreased its dividend payment by an average of 3.4% annually over the last three years. Centerspace has a payout ratio of -7,500.0% 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 $5.14 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 58.4%.

Centerspace Price Performance

Shares of CSR stock opened at $64.98 on Friday. Centerspace has a 1 year low of $54.22 and a 1 year high of $76.16. The company has a current ratio of 0.04, a quick ratio of 0.05 and a debt-to-equity ratio of 0.74. The firm’s 50 day moving average is $63.20 and its 200-day moving average is $69.05. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of -51.17 and a beta of 0.90.

Centerspace (NYSE:CSR) last posted its quarterly earnings data on Tuesday, February 18th. The company reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $1.36. The firm had revenue of $66.41 million for the quarter, compared to the consensus estimate of $65.96 million. Centerspace had a negative return on equity of 1.34% and a negative net margin of 4.34%. Sell-side analysts forecast that Centerspace will post 4.94 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have weighed in on CSR shares. Royal Bank of Canada boosted their price objective on Centerspace from $72.00 to $73.00 and gave the stock an “outperform” rating in a report on Thursday. Wedbush assumed coverage on shares of Centerspace in a research report on Tuesday, December 17th. They set a “neutral” rating and a $72.00 price target for the company. Finally, Janney Montgomery Scott upgraded shares of Centerspace from a “neutral” rating to a “buy” rating and set a $72.00 price objective on the stock in a report on Wednesday, January 15th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $74.43.

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.