Centerspace (NYSE:CSR) Releases Earnings Results, Misses Estimates By $0.48 EPS

Centerspace (NYSE:CSR) posted its earnings results on Monday. The company reported ($0.77) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.48), FiscalAI reports. Centerspace had a net margin of 6.25% and a return on equity of 2.00%. The company had revenue of $65.07 million during the quarter, compared to the consensus estimate of $66.54 million.

Centerspace Stock Performance

Shares of NYSE:CSR traded up $0.47 during midday trading on Monday, reaching $68.85. 92,600 shares of the company traded hands, compared to its average volume of 128,070. The firm’s fifty day moving average price is $62.05 and its two-hundred day moving average price is $63.41. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.86. The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of 68.85 and a beta of 0.89. Centerspace has a 12 month low of $52.76 and a 12 month high of $69.61.

Centerspace Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 14th. Investors of record on Monday, March 30th were paid a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date was Monday, March 30th. Centerspace’s payout ratio is presently 308.00%.

Institutional Trading of Centerspace

A number of hedge funds and other institutional investors have recently bought and sold shares of CSR. Royal Bank of Canada increased its holdings in Centerspace by 199.5% during the 1st quarter. Royal Bank of Canada now owns 15,720 shares of the company’s stock worth $1,019,000 after acquiring an additional 10,472 shares during the period. AQR Capital Management LLC increased its holdings in Centerspace by 32.5% during the 1st quarter. AQR Capital Management LLC now owns 4,891 shares of the company’s stock worth $317,000 after acquiring an additional 1,200 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Centerspace by 2.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,790 shares of the company’s stock worth $958,000 after acquiring an additional 287 shares during the period. Millennium Management LLC increased its stake in Centerspace by 307.3% in the 1st quarter. Millennium Management LLC now owns 184,051 shares of the company’s stock worth $11,917,000 after acquiring an additional 138,861 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Centerspace by 17.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 138,676 shares of the company’s stock worth $8,979,000 after acquiring an additional 20,992 shares during the last quarter. Institutional investors own 79.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on CSR shares. UBS Group raised their price target on shares of Centerspace from $63.00 to $66.00 and gave the company a “neutral” rating in a research report on Thursday, January 8th. Piper Sandler raised shares of Centerspace from a “neutral” rating to an “overweight” rating and raised their price target for the company from $69.00 to $72.00 in a research report on Tuesday, April 7th. Cantor Fitzgerald reiterated a “neutral” rating and set a $65.00 price target on shares of Centerspace in a report on Monday, January 5th. Wall Street Zen upgraded Centerspace from a “strong sell” rating to a “sell” rating in a research note on Saturday, April 11th. Finally, Royal Bank Of Canada boosted their target price on Centerspace from $68.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, February 19th. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $68.83.

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.