Centerspace (NYSE:CSR) Updates FY 2024 Earnings Guidance

Centerspace (NYSE:CSR) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 4.740-4.920 for the period, compared to the consensus estimate of 4.790. The company issued revenue guidance of -.

Centerspace Price Performance

NYSE CSR opened at $67.21 on Tuesday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.04 and a current ratio of 0.04. Centerspace has a twelve month low of $46.74 and a twelve month high of $71.36. The stock has a fifty day simple moving average of $66.60 and a 200 day simple moving average of $59.72.

Centerspace (NYSE:CSR) last posted its quarterly earnings data on Monday, April 29th. The company reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of $1.12 by ($1.49). The firm had revenue of $64.51 million during the quarter, compared to the consensus estimate of $65.30 million. Centerspace had a negative net margin of 2.38% and a negative return on equity of 0.73%. During the same period in the prior year, the company posted $1.07 earnings per share. As a group, analysts predict that Centerspace will post 4.86 earnings per share for the current fiscal year.

Centerspace Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 10th. Investors of record on Friday, June 28th will be paid a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $3.00 annualized dividend and a yield of 4.46%. Centerspace’s dividend payout ratio is currently -375.00%.

Analyst Ratings Changes

CSR has been the topic of a number of research analyst reports. Royal Bank of Canada increased their price objective on shares of Centerspace from $66.00 to $68.00 and gave the stock an outperform rating in a research report on Wednesday, May 1st. Raymond James raised Centerspace from a market perform rating to an outperform rating and set a $75.00 price objective for the company in a research note on Friday, May 24th. Piper Sandler boosted their price objective on Centerspace from $63.00 to $64.00 and gave the company a neutral rating in a report on Monday, May 6th. Finally, Compass Point downgraded shares of Centerspace from a buy rating to a neutral rating and lifted their price target for the company from $65.00 to $68.00 in a research report on Friday, May 3rd. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Centerspace has a consensus rating of Moderate Buy and an average target price of $67.57.

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.