Centerspace (NYSE:CSR) Issues FY 2024 Earnings Guidance

Centerspace (NYSE:CSR) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided EPS guidance of 4.820-4.900 for the period, compared to the consensus EPS estimate of 4.850. The company issued revenue guidance of -.

Centerspace Stock Performance

Shares of Centerspace stock traded down $0.13 during trading hours on Thursday, reaching $70.75. 55,341 shares of the stock traded hands, compared to its average volume of 105,054. The company has a 50 day moving average price of $72.37 and a 200 day moving average price of $69.93. The firm has a market capitalization of $1.08 billion, a price-to-earnings ratio of -44.02, a P/E/G ratio of 2.07 and a beta of 0.89. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.79. Centerspace has a one year low of $46.76 and a one year high of $76.16.

Centerspace (NYSE:CSR) last issued its quarterly earnings data on Monday, October 28th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.17 by ($1.57). The firm had revenue of $65.03 million for the quarter, compared to analysts’ expectations of $66.35 million. Centerspace had a negative return on equity of 0.67% and a negative net margin of 2.16%. During the same period last year, the company earned $1.20 earnings per share. On average, equities research analysts expect that Centerspace will post 4.83 earnings per share for the current fiscal year.

Centerspace Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Monday, September 30th were given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 4.24%. The ex-dividend date was Monday, September 30th. Centerspace’s payout ratio is currently -186.34%.

Wall Street Analyst Weigh In

CSR has been the topic of a number of recent research reports. BTIG Research raised their price objective on Centerspace from $69.00 to $79.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Piper Sandler raised their price objective on Centerspace from $64.00 to $75.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $76.00 price objective on shares of Centerspace in a research report on Wednesday. Finally, Raymond James downgraded Centerspace from an “outperform” rating to a “market perform” rating in a report on Monday, October 21st. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Centerspace presently has an average rating of “Hold” and an average price target of $76.00.

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.