Centerspace (NYSE:CSR) Releases FY 2024 Earnings Guidance

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

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Raymond James lowered Centerspace from an “outperform” rating to a “market perform” rating in a research note on Monday, October 21st. BTIG Research raised their target price on shares of Centerspace from $69.00 to $79.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Piper Sandler boosted their price target on shares of Centerspace from $64.00 to $75.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Finally, Royal Bank of Canada increased their price objective on shares of Centerspace from $72.00 to $73.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $75.40.

Centerspace Stock Down 1.2 %

CSR stock traded down $0.86 during trading on Tuesday, reaching $70.09. 17,393 shares of the company traded hands, compared to its average volume of 103,541. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of -86.41, a price-to-earnings-growth ratio of 2.07 and a beta of 0.89. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.04 and a current ratio of 0.04. The business has a 50 day simple moving average of $72.54 and a 200 day simple moving average of $69.86. Centerspace has a 12 month low of $46.74 and a 12 month high of $76.16.

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

Centerspace Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Monday, September 30th were issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 4.28%. The ex-dividend date was Monday, September 30th. Centerspace’s dividend payout ratio is currently -375.00%.

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.