Centerspace (NYSE:CSR) Given Average Recommendation of "Moderate Buy" by Brokerages

Key Points

• Centerspace has received a consensus rating of "Moderate Buy" from eight brokerages, with a target price of $68.75 over the next 12 months.
• The company reported a quarterly EPS of $1.28, beating expectations, and announced a quarterly dividend of $0.77 per share with a yield of 5.4%.
• Insider transactions include purchases by the CFO and CEO, indicating confidence in the company's future performance, with the CFO increasing their holdings by 15.47%.

Centerspace (NYSE:CSR - Get Free Report) has received an average rating of "Moderate Buy" from the eight ratings firms that are covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $68.75.

Several equities research analysts recently issued reports on CSR shares. Wall Street Zen lowered Centerspace from a "hold" rating to a "sell" rating in a research report on Sunday, September 7th. Wells Fargo & Company dropped their price target on Centerspace from $68.00 to $60.00 and set an "equal weight" rating on the stock in a research report on Wednesday, August 27th. Finally, UBS Group dropped their target price on Centerspace from $67.00 to $60.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 15th.

Insider Activity

In other Centerspace news, Director John A. Schissel acquired 500 shares of Centerspace stock in a transaction that occurred on Friday, August 8th. The stock was purchased at an average cost of $54.00 per share, with a total value of $27,000.00. Following the purchase, the director owned 14,398 shares in the company, valued at approximately $777,492. The trade was a 3.60% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Anne Olson acquired 750 shares of Centerspace stock in a transaction that occurred on Friday, August 8th. The stock was acquired at an average cost of $55.10 per share, with a total value of $41,325.00. Following the completion of the purchase, the chief executive officer owned 19,496 shares in the company, valued at approximately $1,074,229.60. This represents a 4.00% increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 1,750 shares of company stock valued at $95,325 over the last three months. Insiders own 0.44% of the company's stock.

Institutional Trading of Centerspace

A number of hedge funds have recently modified their holdings of CSR. Hilltop National Bank bought a new stake in shares of Centerspace in the 2nd quarter worth approximately $29,000. Wolff Wiese Magana LLC lifted its position in shares of Centerspace by 897.3% in the 2nd quarter. Wolff Wiese Magana LLC now owns 748 shares of the company's stock worth $45,000 after acquiring an additional 673 shares during the period. New Age Alpha Advisors LLC bought a new stake in shares of Centerspace in the 1st quarter worth approximately $86,000. PNC Financial Services Group Inc. lifted its position in shares of Centerspace by 103.4% in the 2nd quarter. PNC Financial Services Group Inc. now owns 2,176 shares of the company's stock worth $131,000 after acquiring an additional 1,106 shares during the period. Finally, Tower Research Capital LLC TRC lifted its position in shares of Centerspace by 64.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,252 shares of the company's stock worth $136,000 after acquiring an additional 879 shares during the period. Institutional investors own 79.00% of the company's stock.

Centerspace Trading Up 0.2%

CSR traded up $0.12 during midday trading on Thursday, hitting $58.32. The company's stock had a trading volume of 253,893 shares, compared to its average volume of 98,615. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.97. Centerspace has a 52-week low of $52.76 and a 52-week high of $75.92. The firm has a market cap of $977.44 million, a P/E ratio of -32.40 and a beta of 0.75. The firm has a 50-day moving average price of $57.35 and a two-hundred day moving average price of $60.15.

Centerspace (NYSE:CSR - Get Free Report) last posted its earnings results on Monday, August 4th. The company reported $1.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.26 by $0.02. Centerspace had a negative net margin of 9.13% and a negative return on equity of 2.81%. The firm had revenue of $68.55 million during the quarter, compared to the consensus estimate of $67.89 million. Centerspace has set its FY 2025 guidance at 4.880-5.000 EPS. On average, research analysts anticipate that Centerspace will post 4.94 earnings per share for the current year.

Centerspace Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Monday, September 29th will be paid a dividend of $0.77 per share. The ex-dividend date of this dividend is Monday, September 29th. This represents a $3.08 annualized dividend and a yield of 5.3%. Centerspace's dividend payout ratio (DPR) is currently -171.11%.

About Centerspace

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.