Centerspace (NYSE:CSR) Announces Earnings Results

Centerspace (NYSE:CSR) posted its quarterly earnings results on Monday. The company reported $7.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $7.13, FiscalAI reports. The business had revenue of $59.52 million during the quarter, compared to analysts’ expectations of $62.74 million. Centerspace had a net margin of 7.97% and a return on equity of 2.58%.

Centerspace Stock Performance

NYSE CSR traded up $0.73 on Monday, hitting $59.17. 218,128 shares of the company’s stock traded hands, compared to its average volume of 175,317. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.87. Centerspace has a 1-year low of $52.00 and a 1-year high of $69.61. The firm’s 50-day moving average price is $55.42 and its two-hundred day moving average price is $59.58. The firm has a market capitalization of $995.26 million, a PE ratio of 46.96 and a beta of 0.82.

Centerspace Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 14th. Shareholders of record on Tuesday, September 29th were given a dividend of $0.77 per share. The ex-dividend date of this dividend was Tuesday, September 29th. This represents a $3.08 dividend on an annualized basis and a yield of 5.2%. Centerspace’s dividend payout ratio (DPR) is currently 244.44%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Cantor Fitzgerald reissued a “neutral” rating and set a $57.00 price objective on shares of Centerspace in a report on Thursday, September 10th. Wells Fargo & Company reduced their target price on Centerspace from $57.00 to $53.00 and set an “equal weight” rating for the company in a research note on Monday, October 19th. Zacks Research raised Centerspace from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 13th. UBS Group dropped their price target on Centerspace from $68.00 to $65.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 14th. Finally, Weiss Ratings downgraded Centerspace from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, August 19th. Two research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $62.50.

Centerspace Company Profile

Centerspace (NYSE:CSR) is a real estate investment trust focused on the ownership, acquisition, development and operation of multifamily apartment communities. The company provides residential housing through a portfolio of apartment properties and generates revenue primarily from rents and related resident services.

Centerspace serves markets in the Mountain West and Midwest, with communities located in states including Colorado, Minnesota, Montana, Nebraska, North Dakota and South Dakota.