Centerspace (NYSE:CSR) Issues Earnings Results, Beats Expectations By $7.13 EPS

Centerspace (NYSE:CSR) released its quarterly earnings data on Monday. The company reported $7.28 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $7.13, FiscalAI reports. Centerspace had a net margin of 7.97% and a return on equity of 2.58%. The firm had revenue of $59.52 million for the quarter, compared to the consensus estimate of $62.74 million.

Centerspace Stock Up 1.3%

Shares of NYSE CSR opened at $59.17 on Tuesday. The stock has a market capitalization of $995.26 million, a PE ratio of 46.96 and a beta of 0.84. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.87. The firm has a fifty day moving average of $55.53 and a 200-day moving average of $59.55. Centerspace has a 52-week low of $52.00 and a 52-week high of $69.61.

Centerspace Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 14th. Shareholders of record on Tuesday, September 29th were issued a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date was Tuesday, September 29th. Centerspace’s dividend payout ratio (DPR) is 244.44%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Royal Bank Of Canada reduced their price objective on Centerspace from $67.00 to $64.00 and set an “outperform” rating for the company in a report on Wednesday, August 5th. Weiss Ratings downgraded Centerspace from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, August 19th. Wells Fargo & Company decreased their price objective on Centerspace from $57.00 to $53.00 and set an “equal weight” rating on the stock in a research note on Monday, October 19th. UBS Group dropped their price objective on Centerspace from $68.00 to $65.00 and set a “neutral” rating for the company in a research report on Wednesday, October 14th. Finally, Compass Point raised shares of Centerspace from a “neutral” rating to a “buy” rating and boosted their target price for the company from $64.50 to $80.00 in a research note on Wednesday, September 9th. Two research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $62.50.

About Centerspace

Centerspace (NYSE:CSR) is a real estate investment trust focused on the ownership, acquisition, development and operation of multifamily apartment communities. The company provides residential housing through a portfolio of apartment properties and generates revenue primarily from rents and related resident services.

Centerspace serves markets in the Mountain West and Midwest, with communities located in states including Colorado, Minnesota, Montana, Nebraska, North Dakota and South Dakota.