Centerspace (NYSE:CSR) Declares $0.77 Quarterly Dividend

Centerspace (NYSE:CSR) declared a quarterly dividend on Tuesday, February 17th. Investors of record on Monday, March 30th will be given a dividend of 0.77 per share on Tuesday, April 14th. This represents a c) annualized dividend and a yield of 4.9%. The ex-dividend date of this dividend is Monday, March 30th.

Centerspace has raised its dividend payment by an average of 0.0%annually over the last three years and has raised its dividend annually for the last 2 consecutive years. Centerspace has a payout ratio of -832.4% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Centerspace to earn $5.14 per share next year, which means the company should continue to be able to cover its $3.08 annual dividend with an expected future payout ratio of 59.9%.

Centerspace Price Performance

Shares of Centerspace stock traded up $0.31 during trading on Wednesday, reaching $63.18. 68,840 shares of the stock traded hands, compared to its average volume of 122,802. The business has a fifty day simple moving average of $65.10 and a two-hundred day simple moving average of $61.76. Centerspace has a 52-week low of $52.76 and a 52-week high of $69.15. The company has a market capitalization of $1.06 billion, a price-to-earnings ratio of 34.92 and a beta of 0.78. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.18 and a quick ratio of 0.18.

Centerspace (NYSE:CSR) last released its quarterly earnings data on Tuesday, February 17th. The company reported ($1.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.21 by ($2.31). Centerspace had a return on equity of 3.52% and a net margin of 11.14%.The firm had revenue of $66.62 million during the quarter, compared to the consensus estimate of $69.77 million. Centerspace has set its FY 2026 guidance at 4.810-5.050 EPS. Sell-side analysts expect that Centerspace will post 4.94 EPS for the current year.

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. Centerspace was named a Top Workplace for the fourth consecutive year in 2023 by the Minneapolis Star Tribune.