FY2024 Earnings Forecast for Centerspace Issued By Wedbush

Centerspace (NYSE:CSR) – Stock analysts at Wedbush issued their FY2024 earnings per share estimates for Centerspace in a research note issued to investors on Tuesday, December 17th. Wedbush analyst R. Anderson expects that the company will earn $4.84 per share for the year. Wedbush currently has a “Neutral” rating and a $72.00 target price 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.

CSR has been the subject of a number of other reports. Raymond James cut shares of Centerspace from an “outperform” rating to a “market perform” rating in a report on Monday, October 21st. Royal Bank of Canada restated an “outperform” rating and issued a $76.00 target price on shares of Centerspace in a report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Centerspace presently has an average rating of “Hold” and an average price target of $75.33.

Centerspace Stock Up 1.9 %

Shares of NYSE CSR opened at $66.01 on Friday. The business’s fifty day simple moving average is $70.91 and its 200-day simple moving average is $70.90. The stock has a market cap of $1.09 billion, a P/E ratio of -41.00, 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. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.70.

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

Centerspace Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Monday, December 30th will be given a $0.75 dividend. The ex-dividend date of this dividend is Monday, December 30th. This represents a $3.00 annualized dividend and a dividend yield of 4.54%. Centerspace’s dividend payout ratio (DPR) is presently -186.34%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Captrust Financial Advisors acquired a new stake in Centerspace in the 3rd quarter worth approximately $234,000. Intech Investment Management LLC bought a new position in shares of Centerspace in the third quarter valued at approximately $403,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Centerspace by 9.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 275,511 shares of the company’s stock worth $19,415,000 after buying an additional 23,839 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Centerspace by 377.3% during the 2nd quarter. Millennium Management LLC now owns 43,604 shares of the company’s stock worth $2,949,000 after buying an additional 34,469 shares during the period. Finally, Cerity Partners LLC acquired a new position in Centerspace in the 3rd quarter valued at $746,000. Institutional investors and hedge funds own 79.00% of the company’s stock.

Centerspace Company Profile

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.