Zacks: Brokerages Anticipate Centerspace (NYSE:CSR) Will Announce Quarterly Sales of $59.06 Million

Analysts expect Centerspace (NYSE:CSRGet Rating) to post $59.06 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Centerspace’s earnings. The highest sales estimate is $61.10 million and the lowest is $57.17 million. Centerspace posted sales of $46.65 million during the same quarter last year, which suggests a positive year over year growth rate of 26.6%. The company is scheduled to report its next earnings results after the market closes on Monday, January 1st.

On average, analysts expect that Centerspace will report full year sales of $243.15 million for the current financial year, with estimates ranging from $238.46 million to $250.90 million. For the next fiscal year, analysts anticipate that the business will post sales of $258.30 million, with estimates ranging from $247.40 million to $271.50 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Centerspace.

Centerspace (NYSE:CSRGet Rating) last announced its quarterly earnings data on Monday, February 28th. The company reported ($0.61) earnings per share for the quarter, missing the consensus estimate of ($0.45) by ($0.16). During the same period last year, the company posted $1.02 earnings per share.

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

Several hedge funds have recently modified their holdings of CSR. Amalgamated Bank grew its stake in Centerspace by 4.3% during the third quarter. Amalgamated Bank now owns 6,728 shares of the company’s stock worth $636,000 after purchasing an additional 277 shares during the period. Ensign Peak Advisors Inc boosted its holdings in Centerspace by 41.0% in the third quarter. Ensign Peak Advisors Inc now owns 5,500 shares of the company’s stock worth $520,000 after acquiring an additional 1,600 shares in the last quarter. SG Americas Securities LLC boosted its holdings in Centerspace by 859.6% in the third quarter. SG Americas Securities LLC now owns 21,707 shares of the company’s stock worth $2,051,000 after acquiring an additional 19,445 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in Centerspace by 2.1% in the first quarter. State of Alaska Department of Revenue now owns 17,761 shares of the company’s stock worth $1,741,000 after acquiring an additional 360 shares in the last quarter. Finally, Maryland State Retirement & Pension System boosted its holdings in Centerspace by 5.7% in the first quarter. Maryland State Retirement & Pension System now owns 6,016 shares of the company’s stock worth $590,000 after acquiring an additional 323 shares in the last quarter. 86.49% of the stock is owned by institutional investors.

Shares of CSR stock traded down $1.91 on Wednesday, hitting $95.30. 123,949 shares of the company’s stock were exchanged, compared to its average volume of 83,657. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.11 and a quick ratio of 0.11. Centerspace has a 12 month low of $66.91 and a 12 month high of $112.27. The company has a 50 day moving average of $97.06 and a 200 day moving average of $100.07.

The business also recently declared a quarterly dividend, which was paid on Monday, April 11th. Stockholders of record on Thursday, March 31st were paid a $0.73 dividend. This is a boost from Centerspace’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend was Wednesday, March 30th. This represents a $2.92 annualized dividend and a dividend yield of 3.06%. Centerspace’s dividend payout ratio is presently -679.05%.

Centerspace Company Profile (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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Earnings History and Estimates for Centerspace (NYSE:CSR)

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