Centerspace (CSR) Set to Announce Quarterly Earnings on Monday

Centerspace (NYSE:CSR) will post its quarterly earnings results after the market closes on Monday, April 29th. Analysts expect Centerspace to post earnings of $1.12 per share for the quarter. Individual interested in registering for the company’s earnings conference call can do so using this link.

Centerspace Price Performance

Centerspace stock opened at $64.89 on Monday. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.74. The company has a market capitalization of $966.15 million, a PE ratio of 27.85, a P/E/G ratio of 1.96 and a beta of 0.93. Centerspace has a 12 month low of $46.74 and a 12 month high of $66.99. The stock has a 50-day moving average price of $57.13 and a two-hundred day moving average price of $55.63.

Centerspace Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 8th. Shareholders of record on Thursday, March 28th were given a $0.75 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This is an increase from Centerspace’s previous quarterly dividend of $0.73. This represents a $3.00 annualized dividend and a yield of 4.62%. Centerspace’s dividend payout ratio (DPR) is currently 128.76%.

Analyst Ratings Changes

Several brokerages have recently weighed in on CSR. Piper Sandler reissued a “neutral” rating and issued a $63.00 price target on shares of Centerspace in a research note on Tuesday, March 26th. Royal Bank of Canada reissued an “outperform” rating and issued a $63.00 price objective on shares of Centerspace in a research note on Friday, March 22nd. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $65.57.

Insider Buying and Selling

In other news, Director John A. Schissel bought 500 shares of the stock in a transaction on Monday, March 11th. The shares were purchased at an average cost of $56.40 per share, for a total transaction of $28,200.00. Following the completion of the purchase, the director now directly owns 9,522 shares in the company, valued at approximately $537,040.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.86% of the stock is currently owned by corporate insiders.

Institutional Trading of Centerspace

Several hedge funds have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its position in shares of Centerspace by 1.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 11,539 shares of the company’s stock valued at $672,000 after purchasing an additional 194 shares in the last quarter. GSA Capital Partners LLP purchased a new position in shares of Centerspace in the fourth quarter valued at $538,000. Legal & General Group Plc grew its position in shares of Centerspace by 4.7% in the fourth quarter. Legal & General Group Plc now owns 133,145 shares of the company’s stock valued at $7,749,000 after purchasing an additional 6,034 shares in the last quarter. Barclays PLC grew its position in shares of Centerspace by 138.5% in the fourth quarter. Barclays PLC now owns 30,601 shares of the company’s stock valued at $1,781,000 after purchasing an additional 17,771 shares in the last quarter. Finally, Voloridge Investment Management LLC purchased a new position in shares of Centerspace in the fourth quarter valued at $253,000. 79.00% of the stock is currently owned by institutional investors.

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.