Centerspace (NYSE:CSR) Issues FY 2024 Earnings Guidance

Centerspace (NYSE:CSR) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 4.780-4.920 for the period, compared to the consensus EPS estimate of 4.790. The company issued revenue guidance of -.

Centerspace Stock Down 0.1 %

NYSE:CSR traded down $0.08 during midday trading on Friday, reaching $71.10. 148,840 shares of the stock traded hands, compared to its average volume of 91,776. The stock has a market capitalization of $1.06 billion, a PE ratio of -88.88, a price-to-earnings-growth ratio of 2.09 and a beta of 0.88. Centerspace has a 12-month low of $46.74 and a 12-month high of $71.80. 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 moving average of $68.83 and a two-hundred day moving average of $63.27.

Centerspace (NYSE:CSR) last announced its earnings results on Monday, July 29th. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of $1.20 by ($1.39). The firm had revenue of $65.04 million during the quarter, compared to analyst estimates of $65.90 million. Centerspace had a negative net margin of 2.16% and a negative return on equity of 0.67%. During the same quarter last year, the business earned $1.28 earnings per share. On average, equities analysts forecast that Centerspace will post 4.82 earnings per share for the current fiscal year.

Centerspace Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 10th. Stockholders of record on Friday, June 28th were paid a dividend of $0.75 per share. The ex-dividend date was Friday, June 28th. This represents a $3.00 annualized dividend and a dividend yield of 4.22%. Centerspace’s payout ratio is currently -375.00%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on CSR shares. Royal Bank of Canada lifted their price objective on shares of Centerspace from $72.00 to $73.00 and gave the stock an outperform rating in a research note on Wednesday, July 31st. Raymond James upgraded shares of Centerspace from a market perform rating to an outperform rating and set a $75.00 target price for the company in a research report on Friday, May 24th. Piper Sandler boosted their target price on shares of Centerspace from $64.00 to $75.00 and gave the company a neutral rating in a research report on Wednesday, July 31st. Finally, Compass Point downgraded shares of Centerspace from a buy rating to a neutral rating and boosted their target price for the company from $65.00 to $68.00 in a research report on Friday, May 3rd. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Centerspace presently has an average rating of Moderate Buy and a consensus price target of $69.86.

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.