FY2024 Earnings Forecast for Centerspace Issued By Wedbush

Centerspace (NYSE:CSR) – Equities research analysts at Wedbush issued their FY2024 earnings per share estimates for shares of Centerspace in a report released on Tuesday, December 17th. Wedbush analyst R. Anderson anticipates that the company will earn $4.84 per share for the year. Wedbush has a “Neutral” rating and a $72.00 price target on the stock. The consensus estimate for Centerspace’s current full-year earnings is $4.86 per share. Wedbush also issued estimates for Centerspace’s Q4 2024 earnings at $1.17 EPS and FY2025 earnings at $4.89 EPS.

Centerspace (NYSE:CSR) last posted its earnings results on Monday, October 28th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate of $1.17 by ($1.57). Centerspace had a negative net margin of 5.57% and a negative return on equity of 1.72%. The business had revenue of $65.03 million during the quarter, compared to analyst estimates of $66.35 million. During the same quarter in the prior year, the business earned $1.20 earnings per share.

Several other analysts have also recently commented on CSR. Royal Bank of Canada restated an “outperform” rating and set a $76.00 target price on shares of Centerspace in a report on Wednesday, October 30th. Raymond James cut shares of Centerspace from an “outperform” rating to a “market perform” rating in a research report on Monday, October 21st. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Centerspace currently has a consensus rating of “Hold” and a consensus target price of $75.33.

Centerspace Stock Up 1.9 %

CSR stock opened at $66.01 on Friday. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of -41.00, a price-to-earnings-growth ratio of 2.05 and a beta of 0.89. Centerspace has a 52 week low of $52.26 and a 52 week high of $76.16. The firm’s 50-day moving average is $70.91 and its two-hundred day moving average is $70.90. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.70.

Institutional Investors Weigh In On Centerspace

Several institutional investors have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. boosted its stake in Centerspace by 35.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 579 shares of the company’s stock valued at $41,000 after acquiring an additional 150 shares during the last quarter. Asset Management One Co. Ltd. lifted its stake in shares of Centerspace by 0.7% in the 3rd quarter. Asset Management One Co. Ltd. now owns 23,116 shares of the company’s stock valued at $1,629,000 after purchasing an additional 170 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Centerspace by 3.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,736 shares of the company’s stock worth $388,000 after purchasing an additional 171 shares during the last quarter. State of Alaska Department of Revenue grew its stake in shares of Centerspace by 1.3% during the third quarter. State of Alaska Department of Revenue now owns 16,110 shares of the company’s stock worth $1,134,000 after purchasing an additional 208 shares during the period. Finally, MetLife Investment Management LLC increased its holdings in Centerspace by 3.4% in the third quarter. MetLife Investment Management LLC now owns 9,091 shares of the company’s stock valued at $641,000 after purchasing an additional 303 shares during the last quarter. Institutional investors and hedge funds own 79.00% of the company’s stock.

Centerspace Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Monday, December 30th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Monday, December 30th. This represents a $3.00 dividend on an annualized basis and a yield of 4.54%. Centerspace’s payout ratio is presently -186.34%.

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.