Centerspace (NYSE:CSR) Announces Earnings Results, Misses Expectations By $1.39 EPS

Centerspace (NYSE:CSR) issued its earnings results on Monday. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($1.39), Yahoo Finance reports. The firm had revenue of $65.04 million during the quarter, compared to the consensus estimate of $65.90 million. Centerspace had a negative net margin of 2.16% and a negative return on equity of 0.67%. During the same quarter in the previous year, the firm earned $1.28 earnings per share.

Centerspace Price Performance

Centerspace stock traded up $0.32 during midday trading on Thursday, hitting $70.15. 5,400 shares of the company’s stock were exchanged, compared to its average volume of 90,863. Centerspace has a 52-week low of $46.74 and a 52-week high of $71.50. The stock has a 50-day moving average price of $68.41 and a two-hundred day moving average price of $62.58. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.04 and a current ratio of 0.04. The company has a market cap of $1.07 billion, a P/E ratio of -87.29, a PEG ratio of 2.03 and a beta of 0.88.

Centerspace Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 10th. Investors of record on Friday, June 28th were paid a dividend of $0.75 per share. The ex-dividend date was Friday, June 28th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 4.28%. Centerspace’s payout ratio is -375.00%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CSR. Raymond James upgraded Centerspace from a “market perform” rating to an “outperform” rating and set a $75.00 target price on the stock in a research note on Friday, May 24th. Compass Point lowered Centerspace from a “buy” rating to a “neutral” rating and boosted their target price for the company from $65.00 to $68.00 in a research note on Friday, May 3rd. Piper Sandler boosted their target price on Centerspace from $64.00 to $75.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, Royal Bank of Canada boosted their target price on Centerspace from $72.00 to $73.00 and gave the company an “outperform” rating in a research note on Wednesday. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $69.86.

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.