Analysts Anticipate Centerspace (NYSE:CSR) Will Post Quarterly Sales of $60.55 Million

Analysts forecast that Centerspace (NYSE:CSRGet Rating) will report $60.55 million in sales for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Centerspace’s earnings, with estimates ranging from $59.06 million to $62.90 million. Centerspace reported sales of $46.66 million in the same quarter last year, which indicates a positive year-over-year growth rate of 29.8%. The company is scheduled to announce its next earnings report on Monday, January 1st.

On average, analysts expect that Centerspace will report full year sales of $243.15 million for the current fiscal year, with estimates ranging from $238.46 million to $250.90 million. For the next fiscal year, analysts anticipate that the firm will report sales of $258.30 million, with estimates ranging from $247.40 million to $271.50 million. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for Centerspace.

Centerspace (NYSE:CSRGet Rating) last released 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 net margin of 1.74% and a negative return on equity of 0.45%. During the same period in the prior year, the firm posted $0.95 earnings per share.

CSR has been the topic of several research reports. Royal Bank of Canada initiated coverage on Centerspace in a report on Friday, March 11th. They set a “sector perform” rating and a $105.00 price target on the stock. Zacks Investment Research upgraded Centerspace from a “hold” rating to a “buy” rating and set a $119.00 price target on the stock in a report on Tuesday, March 8th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $110.13.

In other Centerspace news, Director Rodney Jones-Tyson purchased 595 shares of the company’s stock in a transaction on Monday, May 16th. The shares were purchased at an average cost of $84.82 per share, with a total value of $50,467.90. Following the completion of the purchase, the director now owns 595 shares in the company, valued at $50,467.90. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.86% of the stock is owned by insiders.

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

NYSE:CSR opened at $84.72 on Wednesday. The stock has a market cap of $1.30 billion, a P/E ratio of -136.65, a price-to-earnings-growth ratio of 2.71 and a beta of 0.96. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.61. The stock’s 50-day moving average is $93.40 and its 200-day moving average is $98.15. Centerspace has a 1-year low of $70.06 and a 1-year high of $112.27.

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 11th. Investors of record on Thursday, March 31st were paid a $0.73 dividend. This is a positive change from Centerspace’s previous quarterly dividend of $0.72. This represents a $2.92 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date of this dividend was Wednesday, March 30th. Centerspace’s payout ratio is currently -470.97%.

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.

Read More

Get a free copy of the Zacks research report on Centerspace (CSR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Centerspace (NYSE:CSR)

Receive News & Ratings for Centerspace Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Centerspace and related companies with MarketBeat.com's FREE daily email newsletter.