Centerspace (NYSE:CSR) Releases FY 2024 Earnings Guidance

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

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CSR. Royal Bank of Canada reiterated an outperform rating and issued a $63.00 price target on shares of Centerspace in a research report on Friday, March 22nd. Piper Sandler restated a neutral rating and set a $63.00 target price on shares of Centerspace in a research report on Tuesday, March 26th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $65.57.

Centerspace Price Performance

CSR stock traded up $0.13 during mid-day trading on Monday, hitting $64.72. 62,317 shares of the stock were exchanged, compared to its average volume of 80,330. Centerspace has a 12 month low of $46.74 and a 12 month high of $66.99. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.03 and a quick ratio of 0.03. The business has a fifty day moving average price of $58.32 and a 200 day moving average price of $55.91. The stock has a market capitalization of $963.68 million, a price-to-earnings ratio of 27.78, a PEG ratio of 1.95 and a beta of 0.93.

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 given a dividend of $0.75 per share. This is a positive change from Centerspace’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $3.00 dividend on an annualized basis and a yield of 4.64%. Centerspace’s dividend payout ratio is presently 128.76%.

Insider Buying and Selling at Centerspace

In other Centerspace news, Director John A. Schissel purchased 500 shares of the stock in a transaction on Monday, March 11th. The stock was acquired at an average price of $56.40 per share, with a total value of $28,200.00. Following the transaction, the director now directly owns 9,522 shares of the company’s stock, valued at approximately $537,040.80. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.92% of the stock is currently owned by corporate insiders.

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.