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CSR

CenterspaceNYSE:CSR Stock Report

Market Cap

US$1.5b

7D

1.5%

1Y

45.3%

Updated

19 Oct, 2021

Data

Company Financials +
CSR fundamental analysis
Snowflake Score
Valuation2/6
Future Growth0/6
Past Performance1/6
Financial Health1/6
Dividends3/6

CSR Overview

Centerspace is an owner and operator of apartment communities committed to providing great homes by focusing on integrity and serving others.

Centerspace Competitors

Independence Realty Trust

NYSE:IRT

US$2.3b

UMH Properties

NYSE:UMH

US$1.1b

Bluerock Residential Growth REIT

NYSEAM:BRG

US$567.9m

BRT Apartments

NYSE:BRT

US$361.2m

Price History & Performance

Summary of all time highs, changes and price drops for Centerspace
Historical stock prices
Current Share PriceUS$99.60
52 Week HighUS$64.21
52 Week LowUS$108.19
Beta0.93
1 Month Change2.72%
3 Month Change10.10%
1 Year Change45.27%
3 Year Change85.48%
5 Year Change61.17%
Change since IPO37.38%

Recent News & Updates

Shareholder Returns

CSRUS REITsUS Market
7D1.5%2.2%4.0%
1Y45.3%33.3%30.5%

Return vs Industry: CSR exceeded the US REITs industry which returned 34.4% over the past year.

Return vs Market: CSR exceeded the US Market which returned 30% over the past year.

Price Volatility

Is CSR's price volatile compared to industry and market?
CSR volatility
CSR Beta0.93
Industry Beta0.84
Market Beta1

Stable Share Price: CSR is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 3% a week.

Volatility Over Time: CSR's weekly volatility (3%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1970353Mark Deckerhttps://www.centerspacehomes.com

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 June 30, 2021, Centerspace owned 62 apartment communities consisting of 11,579 apartment homes located in Colorado, Minnesota, Montana, Nebraska, North Dakota, and South Dakota. Centerspace was named a Top Workplace for 2021 by the Minneapolis Star Tribune.

Centerspace Fundamentals Summary

How do Centerspace's earnings and revenue compare to its market cap?
CSR fundamental statistics
Market CapUS$1.49b
Earnings (TTM)US$25.49m
Revenue (TTM)US$182.98m

58.3x

P/E Ratio

8.1x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
CSR income statement (TTM)
RevenueUS$182.98m
Cost of RevenueUS$81.21m
Gross ProfitUS$101.77m
ExpensesUS$76.28m
EarningsUS$25.49m

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

Nov 01, 2021

Earnings per share (EPS)1.71
Gross Margin55.62%
Net Profit Margin13.93%
Debt/Equity Ratio93.6%

How did CSR perform over the long term?

See historical performance and comparison

Dividends

2.9%

Current Dividend Yield

82%

Payout Ratio

Valuation

Is Centerspace undervalued compared to its fair value and its price relative to the market?

29.4%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: CSR ($99.6) is trading below our estimate of fair value ($141.1)

Significantly Below Fair Value: CSR is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: CSR is poor value based on its PE Ratio (58.3x) compared to the US REITs industry average (51.7x).

PE vs Market: CSR is poor value based on its PE Ratio (58.3x) compared to the US market (18.1x).


Price to Earnings Growth Ratio

PEG Ratio: CSR's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: CSR is overvalued based on its PB Ratio (2.5x) compared to the US REITs industry average (2.1x).


Future Growth

How is Centerspace forecast to perform in the next 1 to 3 years based on estimates from 9 analysts?

-96.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: CSR's earnings are forecast to decline over the next 3 years (-96.2% per year).

Earnings vs Market: CSR's earnings are forecast to decline over the next 3 years (-96.2% per year).

High Growth Earnings: CSR's earnings are forecast to decline over the next 3 years.

Revenue vs Market: CSR's revenue (2.8% per year) is forecast to grow slower than the US market (9.9% per year).

High Growth Revenue: CSR's revenue (2.8% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if CSR's Return on Equity is forecast to be high in 3 years time


Past Performance

How has Centerspace performed over the past 5 years?

55.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: CSR has a large one-off gain of $52.0M impacting its June 30 2021 financial results.

Growing Profit Margin: CSR's current net profit margins (13.9%) are lower than last year (34.7%).


Past Earnings Growth Analysis

Earnings Trend: CSR has become profitable over the past 5 years, growing earnings by 55.4% per year.

Accelerating Growth: CSR's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: CSR had negative earnings growth (-59.5%) over the past year, making it difficult to compare to the REITs industry average (4.5%).


Return on Equity

High ROE: CSR's Return on Equity (4.6%) is considered low.


Financial Health

How is Centerspace's financial position?


Financial Position Analysis

Short Term Liabilities: CSR's short term assets ($20.2M) do not cover its short term liabilities ($52.4M).

Long Term Liabilities: CSR's short term assets ($20.2M) do not cover its long term liabilities ($693.4M).


Debt to Equity History and Analysis

Debt Level: CSR's debt to equity ratio (93.6%) is considered high.

Reducing Debt: CSR's debt to equity ratio has reduced from 131.6% to 93.6% over the past 5 years.

Debt Coverage: CSR's debt is not well covered by operating cash flow (9.4%).

Interest Coverage: CSR's interest payments on its debt are not well covered by EBIT (0.3x coverage).


Balance Sheet


Dividend

What is Centerspace current dividend yield, its reliability and sustainability?

2.89%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: CSR's dividend (2.89%) is higher than the bottom 25% of dividend payers in the US market (1.29%).

High Dividend: CSR's dividend (2.89%) is low compared to the top 25% of dividend payers in the US market (3.49%).


Stability and Growth of Payments

Stable Dividend: CSR's dividend payments have been volatile in the past 10 years.

Growing Dividend: CSR's dividend payments have fallen over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: At its current payout ratio (82.2%), CSR's payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: CSR's dividends in 3 years are forecast to be covered by earnings (55.2% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

4.3yrs

Average management tenure


CEO

Mark Decker (45 yo)

4.5yrs

Tenure

US$1,675,269

Compensation

Mr. Mark O. Decker Jr., serves as an Independent Director of Alpine Income Property Trust, Inc. since November 22, 2019. He serves as the Chief Executive Officer and Trustee at Centerspace (formerly known...


CEO Compensation Analysis

Compensation vs Market: Mark's total compensation ($USD1.68M) is below average for companies of similar size in the US market ($USD3.53M).

Compensation vs Earnings: Mark's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: CSR's management team is considered experienced (4.3 years average tenure).


Board Members

Experienced Board: CSR's board of directors are considered experienced (4.5 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 7.8%.


Top Shareholders

Company Information

Centerspace's employee growth, exchange listings and data sources


Key Information

  • Name: Centerspace
  • Ticker: CSR
  • Exchange: NYSE
  • Founded: 1970
  • Industry: Residential REITs
  • Sector: Real Estate
  • Implied Market Cap: US$1.487b
  • Market Cap: US$1.399b
  • Shares outstanding: 14.93m
  • Website: https://www.centerspacehomes.com

Number of Employees


Location

  • Centerspace
  • 3100 10th Street SW
  • Minot
  • North Dakota
  • 58702
  • United States

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/10/19 23:38
End of Day Share Price2021/10/19 00:00
Earnings2021/06/30
Annual Earnings2020/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.