Centerspace (CSR) To Go Ex-Dividend on December 30th

Centerspace (NYSE:CSR) announced a quarterly dividend on Monday, December 2nd,NASDAQ Dividends reports. Shareholders of record on Monday, December 30th will be paid a dividend of 0.75 per share on Monday, January 13th. This represents a $3.00 annualized dividend and a yield of 4.55%. The ex-dividend date is Monday, December 30th.

Centerspace has raised its dividend payment by an average of 1.4% per year over the last three years. Centerspace has a payout ratio of -588.2% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Centerspace to earn $4.97 per share next year, which means the company should continue to be able to cover its $3.00 annual dividend with an expected future payout ratio of 60.4%.

Centerspace Stock Down 0.8 %

CSR opened at $65.88 on Friday. The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of -40.92, a PEG ratio of 2.05 and a beta of 0.89. 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 has a 50 day moving average price of $70.43 and a 200-day moving average price of $70.82. Centerspace has a twelve month low of $52.26 and a twelve month high of $76.16.

Centerspace (NYSE:CSR) last issued its quarterly earnings results on Monday, October 28th. The company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of $1.17 by ($1.57). Centerspace had a negative return on equity of 1.72% and a negative net margin of 5.57%. The company had revenue of $65.03 million during the quarter, compared to analysts’ expectations of $66.35 million. During the same quarter in the previous year, the company earned $1.20 EPS. Equities research analysts forecast that Centerspace will post 4.86 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on CSR shares. Raymond James lowered shares of Centerspace from an “outperform” rating to a “market perform” rating in a research report on Monday, October 21st. Wedbush initiated coverage on shares of Centerspace in a research note on Tuesday, December 17th. They set a “neutral” rating and a $72.00 price target on the stock. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $76.00 price target on shares of Centerspace in a research report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $75.33.

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.