Centerspace (NYSE:CSR) Issues FY 2024 Earnings Guidance

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

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Piper Sandler reissued a neutral rating and issued a $63.00 target price on shares of Centerspace in a research note on Tuesday, March 26th. Royal Bank of Canada reaffirmed an outperform rating and set a $63.00 price target on shares of Centerspace in a research note on Friday, March 22nd. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Centerspace has a consensus rating of Moderate Buy and a consensus price target of $65.57.

Centerspace Stock Up 0.2 %

Shares of CSR traded up $0.13 during midday trading on Monday, hitting $64.72. The company had a trading volume of 62,339 shares, compared to its average volume of 80,330. The company’s 50 day moving average price is $58.14 and its 200 day moving average price is $55.86. The stock has a market cap of $963.68 million, a price-to-earnings ratio of 27.72, a PEG 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 company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.74.

Centerspace Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 8th. Stockholders of record on Thursday, March 28th were given a $0.75 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $3.00 annualized dividend and a dividend yield of 4.64%. This is an increase from Centerspace’s previous quarterly dividend of $0.73. Centerspace’s payout ratio is presently 128.76%.

Insider Transactions at Centerspace

In other Centerspace news, Director John A. Schissel purchased 500 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was acquired at an average cost of $56.40 per share, with a total value of $28,200.00. Following the acquisition, the director now owns 9,522 shares of the company’s stock, valued at approximately $537,040.80. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 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.