Centerspace (NYSE:CSR) Releases FY 2024 Earnings Guidance

Centerspace (NYSE:CSR) updated its FY 2024 earnings guidance on Monday. 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 -.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Royal Bank of Canada reiterated an outperform rating and set a $63.00 price objective on shares of Centerspace in a research report on Friday, March 22nd. Piper Sandler reissued a neutral rating and set a $63.00 price target on shares of Centerspace in a research note on Tuesday, March 26th. 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 company currently has a consensus rating of Moderate Buy and a consensus price target of $65.57.

Centerspace Stock Performance

Shares of NYSE CSR traded up $0.13 during trading on Monday, reaching $64.72. 62,339 shares of the stock traded hands, compared to its average volume of 80,330. The stock has a market capitalization of $963.68 million, a P/E ratio of 27.72, a price-to-earnings-growth ratio of 1.95 and a beta of 0.93. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.03 and a quick ratio of 0.03. The company has a 50-day moving average of $58.14 and a 200-day moving average of $55.86. Centerspace has a 52-week low of $46.74 and a 52-week high of $66.99.

Centerspace Increases Dividend

The business also recently announced 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. The ex-dividend date of this dividend was Wednesday, March 27th. This is a boost from Centerspace’s previous quarterly dividend of $0.73. This represents a $3.00 annualized dividend and a yield of 4.64%. Centerspace’s dividend payout ratio is currently 128.76%.

Insiders Place Their Bets

In other news, Director John A. Schissel bought 500 shares of the stock in a transaction dated Monday, March 11th. The stock was bought at an average price of $56.40 per share, for a total transaction of $28,200.00. Following the purchase, the director now directly owns 9,522 shares in the company, valued at approximately $537,040.80. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.