Centerspace (NYSE:CSR) to Issue Quarterly Dividend of $0.77

Centerspace (NYSE:CSR) declared a quarterly dividend on Monday, June 1st. Stockholders of record on Monday, June 29th will be given a dividend of 0.77 per share on Tuesday, July 14th. This represents a c) dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date is Monday, June 29th.

Centerspace has increased its dividend by an average of 0.0%per year over the last three years and has raised its dividend every year for the last 2 years. Centerspace has a dividend payout ratio of -832.4% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Centerspace to earn $5.05 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 61.0%.

Centerspace Stock Down 13.3%

Shares of NYSE:CSR opened at $58.47 on Tuesday. The company has a market capitalization of $982.51 million, a price-to-earnings ratio of 133.11 and a beta of 0.89. Centerspace has a 12-month low of $52.76 and a 12-month high of $69.61. The business has a 50-day moving average price of $64.27 and a 200 day moving average price of $64.45. 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 (NYSE:CSR) last posted its earnings results on Monday, May 4th. The company reported ($0.77) EPS for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.48). Centerspace had a net margin of 2.93% and a return on equity of 0.94%. The company had revenue of $65.07 million during the quarter, compared to analyst estimates of $66.54 million. Centerspace has set its FY 2026 guidance at 4.810-5.050 EPS. Sell-side analysts expect that Centerspace will post 4.9 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on CSR shares. UBS Group increased their price objective on shares of Centerspace from $66.00 to $70.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Wall Street Zen upgraded Centerspace from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 17th. Royal Bank Of Canada raised their price target on Centerspace from $70.00 to $71.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 6th. Piper Sandler raised Centerspace from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $69.00 to $72.00 in a research note on Tuesday, April 7th. Finally, Weiss Ratings upgraded Centerspace from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, May 6th. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $69.60.

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.