Centerspace (NYSE:CSR – Get Free Report) announced a quarterly dividend on Tuesday, September 1st. Investors of record on Tuesday, September 29th will be paid a dividend of $0.77 per share on Wednesday, October 14th. This represents a $3.08 annualized dividend and a yield of 5.6%. The ex-dividend date of this dividend is Tuesday, September 29th.
Centerspace has raised its dividend payment by an average of 0.0%per year over the last three years and has increased its dividend every year for the last 2 years. Centerspace has a dividend payout ratio of -832.4% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Centerspace to earn $4.50 per share next year, which means the company should continue to be able to cover its $3.08 annual dividend with an expected future payout ratio of 68.4%.
Centerspace Price Performance
Centerspace stock traded up $0.23 during mid-day trading on Friday, hitting $55.40. 150,993 shares of the company were exchanged, compared to its average volume of 368,578. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.87. The business has a fifty day moving average of $55.13 and a 200 day moving average of $59.11. Centerspace has a 1-year low of $52.00 and a 1-year high of $69.61. The company has a market capitalization of $930.45 million, a PE ratio of 43.97 and a beta of 0.86.
Centerspace Company Profile
Centerspace (NYSE:CSR) is a self-administered and self-managed real estate investment trust focused on the ownership, management and operation of multifamily apartment communities. The company generates revenue primarily through apartment rents and related resident services, while seeking to provide well-maintained housing in markets with attractive employment and population trends.
Centerspace’s portfolio is concentrated in the Upper Midwest and Mountain West, with properties serving residents in states that have included Colorado, Minnesota, Montana, North Dakota, South Dakota and Wisconsin.
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