Shares of Centerspace (NYSE: CSR) have received a consensus recommendation of “Hold” from ten research firms currently covering the stock, according to MarketBeat. Of these analysts, seven have rated the stock as a hold, while three have issued buy recommendations. The average price target for the next year among these brokers is set at $69.67.
Several brokerage firms have recently commented on the stock. Notably, Weiss Ratings reaffirmed its “hold (c)” rating on December 1, 2023. UBS Group increased its price objective from $60.00 to $63.00 and designated the stock with a “neutral” rating on November 10, 2023. Additionally, Wells Fargo & Company raised its price target from $60.00 to $74.00 and maintained an “equal weight” rating in a note released on November 17, 2023.
Current Stock Performance and Financial Overview
As of Tuesday, Centerspace’s stock opened at $63.91, reflecting a decline of 1.1%. Over the past year, the stock has seen a low of $52.76 and a high of $71.84. The company boasts a market capitalization of $1.07 billion, with a price-to-earnings ratio of 35.70 and a beta of 0.78.
The company’s fifty-day simple moving average stands at $62.00, while the two-hundred-day simple moving average is $60.31. Centerspace has a current ratio and quick ratio both at 0.18, with a debt-to-equity ratio of 0.96.
On November 3, 2023, Centerspace reported its quarterly earnings, revealing earnings per share (EPS) of $1.19. This figure fell short of the consensus estimate of $1.22 by $0.03. The company’s return on equity was recorded at 3.52%, and its net margin was 11.14%. Looking ahead, Centerspace has set its fiscal year 2025 guidance at EPS between $4.88 and $4.96. Analysts anticipate that the company will achieve an EPS of $4.94 for the current fiscal year.
Dividend Announcement and Company Background
In addition to its earnings report, Centerspace has announced a quarterly dividend of $0.77 per share, scheduled for payment on January 12, 2024. Shareholders on record as of December 30, 2023, will be eligible to receive this dividend. The ex-dividend date is also set for December 30, 2023. This dividend represents an annualized yield of 4.8%, with a payout ratio currently at 172.07%.
Founded in 1970, Centerspace is dedicated to owning and operating apartment communities, with a commitment to providing quality homes through integrity and customer service. As of September 30, 2023, the company owned interests in 71 apartment communities, comprising a total of 12,785 apartment homes located across several states, including Colorado, Minnesota, Montana, Nebraska, North Dakota, and South Dakota.
