Brokerages Expect Centerspace (NYSE:CSR) to Post $1.10 Earnings Per Share

Equities research analysts forecast that Centerspace (NYSE:CSRGet Rating) will post earnings per share (EPS) of $1.10 for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Centerspace’s earnings, with estimates ranging from $1.09 to $1.12. 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 15.8%. The company is expected to report its next earnings results 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 year, analysts anticipate that the business will post earnings of $4.78 per share, with EPS estimates ranging from $4.66 to $4.88. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that follow Centerspace.

Centerspace (NYSE:CSRGet Rating) last posted its earnings results on Monday, May 2nd. The company reported ($0.68) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.06 by ($1.74). Centerspace had a negative return on equity of 0.45% and a negative net margin of 1.74%. During the same period in the prior year, the firm earned $0.95 EPS.

A number of analysts have recently issued reports on CSR shares. Royal Bank of Canada began coverage on shares of Centerspace in a report on Friday, March 11th. They issued a “sector perform” rating and a $105.00 price objective on the stock. Zacks Investment Research raised Centerspace from a “hold” rating to a “buy” rating and set a $119.00 target price on the stock in a research report on Tuesday, March 8th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $110.13.

In other Centerspace news, Director Rodney Jones-Tyson purchased 595 shares of the firm’s stock in a transaction that occurred on Monday, May 16th. The shares were acquired at an average cost of $84.82 per share, for a total transaction of $50,467.90. Following the completion of the purchase, the director now owns 595 shares of the company’s stock, valued at approximately $50,467.90. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.86% of the company’s stock.

Large investors have recently modified their holdings of the stock. Van ECK Associates Corp raised its position in Centerspace by 15.1% during the first quarter. Van ECK Associates Corp now owns 1,280 shares of the company’s stock valued at $126,000 after purchasing an additional 168 shares in the last quarter. Mutual of America Capital Management LLC raised its holdings in shares of Centerspace by 10.7% during the 1st quarter. Mutual of America Capital Management LLC now owns 2,161 shares of the company’s stock worth $212,000 after buying an additional 209 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. bought a new stake in shares of Centerspace during the 1st quarter worth $246,000. Commonwealth Equity Services LLC boosted its stake in Centerspace by 11.1% in the first quarter. Commonwealth Equity Services LLC now owns 2,793 shares of the company’s stock valued at $274,000 after buying an additional 279 shares in the last quarter. Finally, Teacher Retirement System of Texas boosted its stake in shares of Centerspace by 10.1% in the 1st quarter. Teacher Retirement System of Texas now owns 2,982 shares of the company’s stock valued at $293,000 after purchasing an additional 274 shares in the last quarter. 80.68% of the stock is currently owned by institutional investors and hedge funds.

CSR opened at $83.33 on Monday. The company has a market capitalization of $1.28 billion, a price-to-earnings ratio of -134.40, a P/E/G ratio of 2.71 and a beta of 0.96. The business’s 50-day moving average price is $93.93 and its two-hundred day moving average price is $98.37. Centerspace has a 1 year low of $70.06 and a 1 year high of $112.27. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.04 and a quick ratio of 0.04.

The business also recently declared a quarterly dividend, which was paid on Monday, April 11th. Shareholders of record on Thursday, March 31st were issued a $0.73 dividend. This is a boost from Centerspace’s previous quarterly dividend of $0.72. This represents a $2.92 annualized dividend and a yield of 3.50%. The ex-dividend date was Wednesday, March 30th. Centerspace’s dividend payout ratio is currently -470.97%.

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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Earnings History and Estimates for Centerspace (NYSE:CSR)

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