Centerspace (NYSE:CSR) Releases Earnings Results, Beats Expectations By $0.06 EPS

Centerspace (NYSE:CSR) announced its earnings results on Monday. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.06, FiscalAI reports. Centerspace had a return on equity of 0.94% and a net margin of 2.93%.The business had revenue of $65.78 million for the quarter, compared to analyst estimates of $66.29 million. Centerspace updated its FY 2026 guidance to 4.580-4.680 EPS.

Centerspace Stock Up 1.3%

Shares of Centerspace stock traded up $0.70 during trading on Monday, reaching $55.54. The company had a trading volume of 144,607 shares, compared to its average volume of 140,333. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.03 and a current ratio of 0.03. Centerspace has a fifty-two week low of $52.76 and a fifty-two week high of $69.61. The firm’s fifty day moving average is $57.91 and its 200-day moving average is $61.56. The company has a market cap of $933.24 million, a price-to-earnings ratio of 123.42 and a beta of 0.89.

Centerspace Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 14th. Stockholders of record on Monday, June 29th were paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date was Monday, June 29th. Centerspace’s dividend payout ratio is 684.44%.

Insider Transactions at Centerspace

In other news, Director Rodney Jones-Tyson purchased 1,700 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The stock was acquired at an average cost of $55.26 per share, for a total transaction of $93,942.00. Following the completion of the purchase, the director owned 7,877 shares of the company’s stock, valued at approximately $435,283.02. This trade represents a 27.52% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John A. Schissel acquired 500 shares of the stock in a transaction that occurred on Thursday, June 18th. The stock was purchased at an average cost of $54.90 per share, with a total value of $27,450.00. Following the completion of the acquisition, the director owned 17,195 shares of the company’s stock, valued at $944,005.50. The trade was a 2.99% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.49% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in CSR. Wellington Management Group LLP increased its holdings in shares of Centerspace by 324.4% in the 4th quarter. Wellington Management Group LLP now owns 855,869 shares of the company’s stock valued at $57,104,000 after acquiring an additional 654,209 shares during the last quarter. Long Pond Capital LP lifted its stake in Centerspace by 108.0% during the fourth quarter. Long Pond Capital LP now owns 444,101 shares of the company’s stock worth $29,630,000 after purchasing an additional 230,638 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Centerspace by 9.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 340,286 shares of the company’s stock worth $22,704,000 after purchasing an additional 28,809 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Centerspace by 2.0% during the third quarter. Dimensional Fund Advisors LP now owns 241,651 shares of the company’s stock worth $14,232,000 after purchasing an additional 4,707 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Centerspace by 6.1% in the fourth quarter. JPMorgan Chase & Co. now owns 238,355 shares of the company’s stock worth $15,903,000 after purchasing an additional 13,772 shares during the period. Institutional investors and hedge funds own 79.00% of the company’s stock.

Analysts Set New Price Targets

CSR has been the subject of a number of recent analyst reports. Royal Bank Of Canada lowered their price objective on Centerspace from $71.00 to $67.00 and set an “outperform” rating for the company in a research note on Friday, June 5th. UBS Group upped their target price on Centerspace from $66.00 to $70.00 and gave the company a “neutral” rating in a research report on Thursday, May 14th. BTIG Research lowered Centerspace from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 16th. Weiss Ratings cut Centerspace from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, June 17th. Finally, Wall Street Zen raised shares of Centerspace from a “strong sell” rating to a “sell” rating in a research report on Sunday, May 17th. One investment analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $64.40.

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. Centerspace was named a Top Workplace for the fourth consecutive year in 2023 by the Minneapolis Star Tribune.