What is Wedbush’s Estimate for Centerspace FY2024 Earnings?

Centerspace (NYSE:CSR) – Research analysts at Wedbush issued their FY2024 earnings per share (EPS) estimates for shares of Centerspace in a report released on Tuesday, December 17th. Wedbush analyst R. Anderson forecasts 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.

Several other research analysts also recently commented on CSR. Raymond James downgraded Centerspace from an “outperform” rating to a “market perform” rating in a report on Monday, October 21st. Royal Bank of Canada reiterated an “outperform” rating and issued a $76.00 price objective on shares of Centerspace in a research 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. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $75.33.

Centerspace Price Performance

Shares of NYSE:CSR opened at $66.01 on Friday. The company’s fifty day moving average is $70.91 and its 200 day moving average is $70.90. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.70. Centerspace has a 52 week low of $52.26 and a 52 week high of $76.16. The stock has a market cap of $1.09 billion, a PE ratio of -41.00, a PEG ratio of 2.05 and a beta of 0.89.

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

Centerspace Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Monday, December 30th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 4.54%. The ex-dividend date of this dividend is Monday, December 30th. Centerspace’s payout ratio is -186.34%.

Institutional Investors Weigh In On Centerspace

Several institutional investors and hedge funds have recently bought and sold shares of the business. Captrust Financial Advisors bought a new position in shares of Centerspace during the third quarter valued at approximately $234,000. Intech Investment Management LLC bought a new position in Centerspace in the 3rd quarter worth $403,000. Charles Schwab Investment Management Inc. raised its holdings in Centerspace by 9.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 275,511 shares of the company’s stock worth $19,415,000 after purchasing an additional 23,839 shares in the last quarter. Millennium Management LLC lifted its position in shares of Centerspace by 377.3% in the 2nd quarter. Millennium Management LLC now owns 43,604 shares of the company’s stock worth $2,949,000 after purchasing an additional 34,469 shares during the period. Finally, Cerity Partners LLC bought a new stake in shares of Centerspace during the 3rd quarter valued at about $746,000. Hedge funds and other institutional investors 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.