Centerspace (NYSE:CSR) Issues Quarterly Earnings Results

Centerspace (NYSE:CSR) announced its quarterly earnings data on Tuesday. The company reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $1.36, Zacks reports. The firm had revenue of $66.41 million for the quarter, compared to analysts’ expectations of $65.96 million. Centerspace had a negative return on equity of 1.36% and a negative net margin of 4.34%. Centerspace updated its FY 2025 guidance to 4.860-5.100 EPS.

Centerspace Price Performance

NYSE:CSR opened at $63.86 on Thursday. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.70. The firm’s 50-day moving average price is $63.30 and its 200-day moving average price is $69.08. Centerspace has a 1-year low of $54.22 and a 1-year high of $76.16.

Centerspace Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 8th. Shareholders of record on Friday, March 28th will be given a dividend of $0.77 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $3.08 annualized dividend and a yield of 4.82%. This is a positive change from Centerspace’s previous quarterly dividend of $0.75. Centerspace’s dividend payout ratio (DPR) is currently -236.22%.

Analyst Upgrades and Downgrades

CSR has been the subject of a number of analyst reports. Janney Montgomery Scott raised Centerspace from a “neutral” rating to a “buy” rating and set a $72.00 price objective for the company in a research note on Wednesday, January 15th. Royal Bank of Canada restated an “outperform” rating and issued a $76.00 price objective on shares of Centerspace in a research report on Wednesday, October 30th. Finally, Wedbush began coverage on shares of Centerspace in a report on Tuesday, December 17th. They set a “neutral” rating and a $72.00 target price for the company. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $74.86.

About Centerspace

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.