FY2024 Earnings Estimate for Centerspace Issued By Wedbush

Centerspace (NYSE:CSR) – Equities research analysts at Wedbush issued their FY2024 EPS estimates for shares of Centerspace in a report released on Tuesday, December 17th. Wedbush analyst R. Anderson expects that the company will post earnings per share of $4.84 for the year. Wedbush currently has a “Neutral” rating and a $72.00 price target on the stock. The consensus estimate for Centerspace’s current full-year earnings is $4.86 per share. Wedbush also issued estimates for Centerspace’s Q4 2024 earnings at $1.17 EPS and FY2025 earnings at $4.89 EPS.

Centerspace (NYSE:CSR) last posted its earnings results on Monday, October 28th. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of $1.17 by ($1.57). Centerspace had a negative return on equity of 1.72% and a negative net margin of 5.57%. The firm had revenue of $65.03 million during the quarter, compared to analyst estimates of $66.35 million. During the same quarter last year, the business posted $1.20 earnings per share.

Several other brokerages also recently issued reports on CSR. Raymond James downgraded Centerspace from an “outperform” rating to a “market perform” rating in a report on Monday, October 21st. Royal Bank of Canada reissued an “outperform” rating and set a $76.00 target price on shares of Centerspace in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Centerspace currently has an average rating of “Hold” and a consensus price target of $75.33.

Centerspace Stock Performance

Shares of Centerspace stock opened at $64.75 on Friday. The stock’s fifty day simple moving average is $70.99 and its 200 day simple moving average is $70.92. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $1.07 billion, a PE ratio of -40.22, a PEG ratio of 2.05 and a beta of 0.89. Centerspace has a 12 month low of $52.26 and a 12 month high of $76.16.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. lifted its stake in Centerspace by 35.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 579 shares of the company’s stock valued at $41,000 after acquiring an additional 150 shares in the last quarter. Loomis Sayles & Co. L P boosted its holdings in Centerspace by 3,131.6% during the third quarter. Loomis Sayles & Co. L P now owns 614 shares of the company’s stock worth $43,000 after purchasing an additional 595 shares during the last quarter. Rothschild Investment LLC bought a new position in Centerspace in the second quarter valued at $42,000. Van ECK Associates Corp grew its position in Centerspace by 15.2% in the third quarter. Van ECK Associates Corp now owns 2,626 shares of the company’s stock valued at $186,000 after purchasing an additional 347 shares in the last quarter. Finally, Versor Investments LP acquired a new stake in Centerspace in the 3rd quarter valued at $204,000. 79.00% of the stock is owned by institutional investors and hedge funds.

Centerspace Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Monday, December 30th will be issued a $0.75 dividend. The ex-dividend date of this dividend is Monday, December 30th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 4.63%. Centerspace’s dividend payout ratio (DPR) is -186.34%.

About Centerspace

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.