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 guidance of 4.740-4.920 for the period, compared to the consensus earnings per share estimate of 4.780. The company issued revenue guidance of -.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on CSR shares. Piper Sandler restated a neutral rating and set a $63.00 target price on shares of Centerspace in a report on Tuesday, March 26th. Royal Bank of Canada reiterated an outperform rating and issued a $63.00 target price on shares of Centerspace in a report on Friday, March 22nd. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $65.57.

Centerspace Trading Up 2.0 %

Shares of CSR stock traded up $1.37 during trading hours on Wednesday, hitting $68.62. The company had a trading volume of 17,409 shares, compared to its average volume of 80,701. Centerspace has a 12 month low of $46.74 and a 12 month high of $68.68. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.74. The firm’s fifty day moving average is $58.32 and its 200 day moving average is $55.91.

Centerspace (NYSE:CSR) last announced its quarterly earnings results on Monday, April 29th. The company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of $1.12 by ($1.49). The company had revenue of $64.51 million during the quarter, compared to the consensus estimate of $65.30 million. Centerspace had a negative net margin of 2.38% and a negative return on equity of 0.72%. During the same quarter last year, the company earned $1.07 earnings per share. As a group, equities research analysts forecast that Centerspace will post 4.74 EPS for the current 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 issued a dividend of $0.75 per share. This is an increase from Centerspace’s previous quarterly dividend of $0.73. This represents a $3.00 annualized dividend and a yield of 4.37%. The ex-dividend date of this dividend was Wednesday, March 27th. Centerspace’s dividend payout ratio (DPR) is currently -375.00%.

Insider Buying and Selling at Centerspace

In other Centerspace news, Director John A. Schissel purchased 500 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were acquired at an average cost of $56.40 per share, for a total transaction of $28,200.00. Following the transaction, the director now directly owns 9,522 shares in the company, valued at $537,040.80. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.92% of the company’s stock.

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.