Centerspace (NYSE:CSR) Issues FY 2024 Earnings Guidance

Centerspace (NYSE:CSR) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided EPS guidance of 4.740-4.920 for the period, compared to the consensus EPS estimate of 4.780. The company issued revenue guidance of -.

Centerspace Stock Performance

Centerspace stock traded down $0.53 during trading on Thursday, reaching $68.27. The company had a trading volume of 8,701 shares, compared to its average volume of 81,392. Centerspace has a 52 week low of $46.74 and a 52 week high of $69.61. The firm’s 50-day simple moving average is $58.55 and its 200 day simple moving average is $55.99. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of -85.27, a price-to-earnings-growth ratio of 2.02 and a beta of 0.86. The company has a current ratio of 0.04, a quick ratio of 0.03 and a debt-to-equity ratio of 0.77.

Centerspace (NYSE:CSR) last announced its earnings results on Monday, April 29th. The company reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of $1.12 by ($1.49). The company had revenue of $64.51 million during the quarter, compared to the consensus estimate of $65.30 million. Centerspace had a negative return on equity of 0.73% and a negative net margin of 2.38%. During the same period in the prior year, the business posted $1.07 earnings per share. Sell-side analysts forecast that Centerspace will post 4.76 earnings per share for the current fiscal year.

Centerspace Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 8th. Shareholders of record on Thursday, March 28th were issued a dividend of $0.75 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This is a boost from Centerspace’s previous quarterly dividend of $0.73. This represents a $3.00 dividend on an annualized basis and a yield of 4.39%. Centerspace’s dividend payout ratio (DPR) is currently -375.00%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CSR. Piper Sandler reissued a neutral rating and set a $63.00 price target on shares of Centerspace in a report on Tuesday, March 26th. Royal Bank of Canada raised their price objective on Centerspace from $66.00 to $68.00 and gave the company an outperform rating in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Centerspace presently has a consensus rating of Moderate Buy and a consensus target price of $66.29.

Insider Activity

In other news, Director John A. Schissel acquired 500 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was purchased at an average price of $56.40 per share, for a total transaction of $28,200.00. Following the completion of the transaction, the director now directly owns 9,522 shares in the company, valued at approximately $537,040.80. The acquisition was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.92% of the company’s stock.

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.