Centerspace (NYSE:CSR) Announces Quarterly Earnings Results

Centerspace (NYSE:CSR) released its quarterly earnings data on Monday. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.06, FiscalAI reports. The company had revenue of $65.78 million during the quarter, compared to analysts’ expectations of $66.29 million. Centerspace had a return on equity of 2.54% and a net margin of 7.97%. Centerspace updated its FY 2026 guidance to 4.580-4.680 EPS.

Centerspace Price Performance

Shares of NYSE:CSR traded up $1.36 during mid-day trading on Wednesday, reaching $55.95. The stock had a trading volume of 38,691 shares, compared to its average volume of 140,827. The company has a market cap of $939.96 million, a P/E ratio of 124.33 and a beta of 0.88. The business’s 50 day moving average price is $57.39 and its 200 day moving average price is $61.41. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.88. Centerspace has a 1 year low of $52.83 and a 1 year high of $69.61.

Centerspace Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 14th. Stockholders of record on Monday, June 29th were given a dividend of $0.77 per share. The ex-dividend date of this dividend was Monday, June 29th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 5.5%. Centerspace’s payout ratio is presently 684.44%.

Wall Street Analyst Weigh In

CSR has been the subject of a number of research analyst reports. Weiss Ratings cut Centerspace from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, June 17th. BTIG Research lowered Centerspace from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 16th. Piper Sandler lowered their price target on shares of Centerspace from $64.00 to $60.00 and set a “neutral” rating for the company in a report on Tuesday, July 21st. Wall Street Zen upgraded shares of Centerspace from a “strong sell” rating to a “sell” rating in a research report on Sunday, May 17th. Finally, Wells Fargo & Company decreased their price target on Centerspace from $70.00 to $60.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 22nd. One analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $63.80.

Insider Transactions at Centerspace

In related news, Director Rodney Jones-Tyson bought 1,700 shares of Centerspace stock in a transaction dated Monday, June 22nd. The shares were acquired at an average cost of $55.26 per share, with a total value of $93,942.00. Following the completion of the transaction, the director owned 7,877 shares in the company, valued at $435,283.02. The trade was a 27.52% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director John A. Schissel acquired 500 shares of the firm’s stock in a transaction that occurred on Thursday, June 18th. The shares were bought at an average price of $54.90 per share, with a total value of $27,450.00. Following the completion of the purchase, the director directly owned 17,195 shares in the company, valued at $944,005.50. The trade was a 2.99% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.49% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Centerspace

Several institutional investors and hedge funds have recently added to or reduced their stakes in CSR. Kestra Advisory Services LLC acquired a new position in shares of Centerspace during the 4th quarter worth about $58,000. Federation des caisses Desjardins du Quebec lifted its position in shares of Centerspace by 26.5% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 1,337 shares of the company’s stock valued at $89,000 after acquiring an additional 280 shares in the last quarter. Tower Research Capital LLC TRC increased its position in shares of Centerspace by 64.0% during the second quarter. Tower Research Capital LLC TRC now owns 2,252 shares of the company’s stock worth $136,000 after purchasing an additional 879 shares in the last quarter. First Trust Advisors LP purchased a new position in Centerspace in the 4th quarter valued at $203,000. Finally, Verition Fund Management LLC purchased a new stake in shares of Centerspace during the fourth quarter worth $224,000. Hedge funds and other institutional investors own 79.00% of the company’s stock.

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