Centerspace (CSR) Set to Announce Quarterly Earnings on Monday

Centerspace (NYSE:CSR) is set to issue its quarterly earnings data after the market closes on Monday, April 29th. Analysts expect the company to announce earnings of $1.12 per share for the quarter. Parties that wish to register for the company’s conference call can do so using this link.

Centerspace Stock Performance

Centerspace stock opened at $64.89 on Monday. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.03 and a quick ratio of 0.03. Centerspace has a 1-year low of $46.74 and a 1-year high of $66.99. The firm has a market capitalization of $966.15 million, a P/E ratio of 27.85, a price-to-earnings-growth ratio of 1.96 and a beta of 0.93. The company’s 50-day moving average is $57.13 and its 200 day moving average is $55.63.

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 dividend of $0.75 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This is a positive change from Centerspace’s previous quarterly dividend of $0.73. This represents a $3.00 dividend on an annualized basis and a dividend yield of 4.62%. Centerspace’s dividend payout ratio (DPR) is 128.76%.

Insider Activity

In other news, Director John A. Schissel bought 500 shares of the stock in a transaction on Monday, March 11th. The stock was bought at an average cost of $56.40 per share, for a total transaction of $28,200.00. Following the completion of the purchase, the director now directly owns 9,522 shares in the company, valued at $537,040.80. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.86% of the company’s stock.

Institutional Investors Weigh In On Centerspace

Institutional investors and hedge funds have recently made changes to their positions in the stock. Lazard Asset Management LLC purchased a new position in shares of Centerspace during the fourth quarter worth $27,000. Tower Research Capital LLC TRC boosted its holdings in Centerspace by 82.7% in the 3rd quarter. Tower Research Capital LLC TRC now owns 740 shares of the company’s stock valued at $45,000 after purchasing an additional 335 shares during the last quarter. Captrust Financial Advisors acquired a new position in Centerspace in the 2nd quarter valued at about $46,000. Russell Investments Group Ltd. purchased a new stake in shares of Centerspace in the 1st quarter valued at approximately $66,000. Finally, FMR LLC raised its stake in shares of Centerspace by 20.5% in the 1st quarter. FMR LLC now owns 1,382 shares of the company’s stock valued at $75,000 after acquiring an additional 235 shares during the period. 79.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CSR. Piper Sandler reaffirmed a “neutral” rating and set a $63.00 target price on shares of Centerspace in a research report on Tuesday, March 26th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $63.00 target price on shares of Centerspace in a research report on Friday, March 22nd. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $65.57.

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.