Centerspace (NYSE:CSR) Expected to Post Earnings of $1.06 Per Share

Equities research analysts predict that Centerspace (NYSE:CSR – Get Rating) will post $1.06 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Centerspace’s earnings, with the lowest EPS estimate coming in at $1.03 and the highest estimate coming in at $1.09. Centerspace posted earnings per share of $0.95 in the same quarter last year, which would suggest a positive year-over-year growth rate of 11.6%. The company is expected to report its next earnings report after the market closes on Monday, January 1st.

According to Zacks, analysts expect that Centerspace will report full year earnings of $4.38 per share for the current fiscal year, with EPS estimates ranging from $4.25 to $4.50. For the next financial year, analysts forecast that the business will report earnings of $4.66 per share, with EPS estimates ranging from $4.51 to $4.80. Zacks’ earnings per share calculations are an average based on a survey of analysts that that provide coverage for Centerspace.

Centerspace (NYSE:CSR – Get Rating) last released its earnings results on Monday, February 28th. The company reported ($0.61) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.16). During the same quarter last year, the business earned $1.02 earnings per share.

CSR has been the subject of several recent research reports. Zacks Investment Research raised Centerspace from a “hold” rating to a “buy” rating and set a $119.00 price target for the company in a research note on Tuesday, March 8th. Robert W. Baird raised their target price on Centerspace from $106.00 to $110.00 and gave the company a “neutral” rating in a report on Friday, January 7th. Finally, Royal Bank of Canada began coverage on Centerspace in a report on Friday, March 11th. They issued a “sector perform” rating and a $105.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Centerspace presently has a consensus rating of “Buy” and a consensus target price of $106.11.

Institutional investors and hedge funds have recently made changes to their positions in the company. Silvercrest Asset Management Group LLC lifted its position in Centerspace by 0.9% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 29,314 shares of the company’s stock valued at $3,251,000 after purchasing an additional 251 shares during the period. Amalgamated Bank raised its holdings in Centerspace by 4.3% in the 3rd quarter. Amalgamated Bank now owns 6,728 shares of the company’s stock valued at $636,000 after acquiring an additional 277 shares during the last quarter. Maryland State Retirement & Pension System raised its holdings in Centerspace by 5.7% in the 1st quarter. Maryland State Retirement & Pension System now owns 6,016 shares of the company’s stock valued at $590,000 after acquiring an additional 323 shares during the last quarter. State of Alaska Department of Revenue increased its holdings in shares of Centerspace by 2.1% during the 1st quarter. State of Alaska Department of Revenue now owns 17,761 shares of the company’s stock worth $1,741,000 after buying an additional 360 shares during the last quarter. Finally, Comerica Bank increased its holdings in shares of Centerspace by 4.8% during the 3rd quarter. Comerica Bank now owns 12,726 shares of the company’s stock worth $1,320,000 after buying an additional 578 shares during the last quarter. 86.49% of the stock is currently owned by hedge funds and other institutional investors.

NYSE CSR traded down $1.49 on Monday, hitting $95.72. 2,241 shares of the company’s stock were exchanged, compared to its average volume of 75,999. The stock has a 50-day moving average of $97.06 and a 200-day moving average of $100.13. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.62. Centerspace has a 52 week low of $66.91 and a 52 week high of $112.27.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 11th. Investors of record on Thursday, March 31st were issued a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a yield of 3.05%. This is a positive change from Centerspace’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend was Wednesday, March 30th. Centerspace’s dividend payout ratio (DPR) is presently -679.05%.

About Centerspace (Get Rating)

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 June 30, 2021, Centerspace owned 62 apartment communities consisting of 11,579 apartment homes located in Colorado, Minnesota, Montana, Nebraska, North Dakota, and South Dakota.

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