Centerspace (NYSE:CSR) Declares Quarterly Dividend of $0.77

Centerspace (NYSE:CSR) declared a quarterly dividend on Tuesday, February 17th. Shareholders of record on Monday, March 30th will be given a dividend of 0.77 per share on Tuesday, April 14th. This represents a c) annualized dividend and a yield of 4.9%. The ex-dividend date of this dividend is Monday, March 30th.

Centerspace has raised its dividend by an average of 0.0%annually over the last three years and has increased its dividend every year for the last 2 years. Centerspace has a dividend payout ratio of -832.4% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Centerspace to earn $5.14 per share next year, which means the company should continue to be able to cover its $3.08 annual dividend with an expected future payout ratio of 59.9%.

Centerspace Stock Performance

Shares of CSR traded down $0.16 on Wednesday, reaching $62.71. 59,064 shares of the stock traded hands, compared to its average volume of 122,504. The stock’s 50-day moving average price is $65.10 and its 200-day moving average price is $61.76. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.18 and a quick ratio of 0.18. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of 35.08 and a beta of 0.78. Centerspace has a 12 month low of $52.76 and a 12 month high of $69.15.

Centerspace (NYSE:CSR) last posted its quarterly earnings results on Tuesday, February 17th. The company reported ($1.10) earnings per share for the quarter, missing analysts’ consensus estimates of $1.21 by ($2.31). Centerspace had a return on equity of 3.52% and a net margin of 11.14%.The business had revenue of $66.62 million for the quarter, compared to analyst estimates of $69.77 million. Centerspace has set its FY 2026 guidance at 4.810-5.050 EPS. Equities analysts forecast that Centerspace will post 4.94 EPS for the current fiscal year.

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. Centerspace was named a Top Workplace for the fourth consecutive year in 2023 by the Minneapolis Star Tribune.