Centerspace (NYSE:CSR) Releases FY 2024 Earnings Guidance

Centerspace (NYSE:CSR) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of 4.740-4.920 for the period, compared to the consensus estimate of 4.780. The company issued revenue guidance of -.

Centerspace Trading Up 0.4 %

CSR stock traded up $0.24 during midday trading on Tuesday, reaching $64.96. 14,881 shares of the company traded hands, compared to its average volume of 79,540. The firm has a market capitalization of $967.25 million, a price-to-earnings ratio of 27.78, a P/E/G ratio of 1.95 and a beta of 0.93. Centerspace has a 52-week low of $46.74 and a 52-week high of $66.99. The business has a 50 day moving average of $58.32 and a 200-day moving average of $55.91. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.03 and a current ratio of 0.03.

Centerspace (NYSE:CSR) last released its quarterly earnings results on Monday, April 29th. The company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of $1.12 by ($1.49). The company had revenue of $64.51 million for the quarter, compared to analysts’ expectations of $65.30 million. Centerspace had a net margin of 15.81% and a return on equity of 4.76%. During the same quarter in the previous year, the company posted $1.07 EPS. As a group, sell-side analysts expect that Centerspace will post 4.74 earnings per share for the current fiscal year.

Centerspace Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 8th. Investors of record on Thursday, March 28th were paid a dividend of $0.75 per share. The ex-dividend date was Wednesday, March 27th. This is a boost from Centerspace’s previous quarterly dividend of $0.73. This represents a $3.00 dividend on an annualized basis and a dividend yield of 4.62%. Centerspace’s payout ratio is currently 128.76%.

Analyst Ratings Changes

CSR has been the subject of several analyst reports. Piper Sandler reissued a neutral rating and issued a $63.00 price objective on shares of Centerspace in a research note on Tuesday, March 26th. Royal Bank of Canada reissued an outperform rating and set a $63.00 price target on shares of Centerspace in a research note on Friday, March 22nd. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $65.57.

Insiders Place Their Bets

In related news, Director John A. Schissel acquired 500 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was acquired at an average price of $56.40 per share, with a total value of $28,200.00. Following the acquisition, the director now directly owns 9,522 shares in the company, valued at approximately $537,040.80. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.92% of the stock is owned by insiders.

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.