Centerspace (NYSE:CSR) Posts Quarterly Earnings Results, Beats Expectations By $0.06 EPS

Centerspace (NYSE:CSR) released its earnings results on Monday. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.06, FiscalAI reports. The company had revenue of $65.78 million during the quarter, compared to the consensus estimate of $66.29 million. Centerspace had a return on equity of 0.94% and a net margin of 2.93%. Centerspace updated its FY 2026 guidance to 4.580-4.680 EPS.

Centerspace Stock Up 1.3%

Shares of NYSE:CSR opened at $55.54 on Tuesday. Centerspace has a 52 week low of $52.76 and a 52 week high of $69.61. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.03 and a current ratio of 0.03. The company has a market capitalization of $933.07 million, a PE ratio of 123.42 and a beta of 0.88. The company has a 50 day moving average price of $57.66 and a two-hundred day moving average price of $61.49.

Centerspace Dividend Announcement

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

Insiders Place Their Bets

In other news, Director Rodney Jones-Tyson purchased 1,700 shares of the firm’s stock in a transaction dated Monday, June 22nd. The stock was bought at an average price of $55.26 per share, with a total value of $93,942.00. Following the acquisition, the director directly owned 7,877 shares of the company’s stock, valued at approximately $435,283.02. This represents a 27.52% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John A. Schissel acquired 500 shares of the stock in a transaction that occurred on Thursday, June 18th. The stock was purchased at an average price of $54.90 per share, with a total value of $27,450.00. Following the transaction, the director owned 17,195 shares in the company, valued at $944,005.50. This represents a 2.99% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 0.49% of the company’s stock.

Institutional Investors Weigh In On Centerspace

Several large investors have recently modified their holdings of CSR. Kestra Advisory Services LLC acquired a new position in shares of Centerspace in the 4th quarter valued at approximately $58,000. Federation des caisses Desjardins du Quebec raised its holdings in Centerspace by 26.5% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 1,337 shares of the company’s stock worth $89,000 after buying an additional 280 shares during the period. Tower Research Capital LLC TRC raised its holdings in Centerspace by 64.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,252 shares of the company’s stock worth $136,000 after buying an additional 879 shares during the period. First Trust Advisors LP bought a new position in Centerspace in the fourth quarter valued at approximately $203,000. Finally, Verition Fund Management LLC bought a new position in Centerspace in the fourth quarter valued at approximately $224,000. 79.00% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CSR has been the topic of a number of research reports. Weiss Ratings downgraded shares of Centerspace from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, June 17th. BTIG Research cut shares of Centerspace from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 16th. Wells Fargo & Company dropped their price target on shares of Centerspace from $70.00 to $60.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 22nd. Piper Sandler cut their price objective on shares of Centerspace from $64.00 to $60.00 and set a “neutral” rating on the stock in a report on Tuesday, July 21st. Finally, UBS Group raised their price target on Centerspace from $66.00 to $70.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. One analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, Centerspace currently has an average rating of “Hold” and a consensus target price of $64.40.

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.