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

Key Points

• Centerspace (NYSE:CSR) has received an average recommendation of "Hold" from ten research firms, with one analyst recommending a sell, five a hold, three a buy, and one a strong buy.
• Recently, Wells Fargo and UBS Group lowered their price targets on the stock from $68 to $60, reflecting a cautious outlook amid changes in analyst ratings.
• Centerspace reported a quarterly earnings per share (EPS) of $1.28, exceeding analyst expectations, and declared a quarterly dividend with a yield of 5.3%.

Shares of Centerspace (NYSE:CSR - Get Free Report) have earned a consensus recommendation of "Hold" from the ten research firms that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $68.00.

Several analysts recently commented on CSR shares. Wells Fargo & Company decreased their price target on Centerspace from $68.00 to $60.00 and set an "equal weight" rating on the stock in a research note on Wednesday, August 27th. Wall Street Zen lowered Centerspace from a "hold" rating to a "sell" rating in a research note on Sunday, September 7th. UBS Group cut their price objective on Centerspace from $67.00 to $60.00 and set a "neutral" rating for the company in a research report on Tuesday, July 15th. Weiss Ratings reiterated a "sell (d+)" rating on shares of Centerspace in a research report on Wednesday, October 8th. Finally, Cantor Fitzgerald began coverage on Centerspace in a research report on Wednesday, October 1st. They issued a "neutral" rating and a $62.00 price objective for the company.

Centerspace Price Performance

Shares of CSR stock opened at $58.22 on Monday. The stock's fifty day simple moving average is $57.57 and its 200 day simple moving average is $59.57. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.05 and a quick ratio of 0.05. The firm has a market cap of $975.77 million, a price-to-earnings ratio of -32.34 and a beta of 0.73. Centerspace has a one year low of $52.76 and a one year high of $75.92.

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

Centerspace Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Monday, September 29th were given a $0.77 dividend. The ex-dividend date was Monday, September 29th. This represents a $3.08 annualized dividend and a yield of 5.3%. Centerspace's payout ratio is presently -171.11%.

Insider Buying and Selling at Centerspace

In other Centerspace news, Director John A. Schissel acquired 500 shares of the business's stock in a transaction on Friday, August 8th. The stock was purchased at an average price of $54.00 per share, for a total transaction of $27,000.00. Following the transaction, the director owned 14,398 shares in the company, valued at $777,492. This trade represents a 3.60% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Bhairav Patel acquired 500 shares of the business's stock in a transaction on Friday, August 8th. The stock was acquired at an average price of $54.00 per share, with a total value of $27,000.00. Following the transaction, the chief financial officer owned 3,733 shares in the company, valued at approximately $201,582. The trade was a 15.47% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 1,750 shares of company stock worth $95,325. 0.44% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Centerspace

Institutional investors and hedge funds have recently made changes to their positions in the company. Hilltop National Bank bought a new stake in shares of Centerspace during the second quarter worth $29,000. Wolff Wiese Magana LLC raised its position in shares of Centerspace by 897.3% during the second 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 last quarter. New Age Alpha Advisors LLC bought a new stake in shares of Centerspace during the first quarter worth $86,000. PNC Financial Services Group Inc. raised its position in shares of Centerspace by 103.4% during the second 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 last quarter. Finally, Tower Research Capital LLC TRC raised its position in shares of Centerspace by 64.0% during the second 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 last quarter. Institutional investors own 79.00% of the company's stock.

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.

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