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

Centerspace (NYSE:CSR - Get Free Report) has earned an average recommendation of "Moderate Buy" from the nine analysts that are currently covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $71.56.

CSR has been the topic of a number of research analyst reports. UBS Group initiated coverage on shares of Centerspace in a report on Monday, April 7th. They issued a "neutral" rating and a $67.00 price target on the stock. Royal Bank Of Canada upped their price target on shares of Centerspace from $71.00 to $72.00 and gave the stock an "outperform" rating in a report on Monday, May 5th. Wells Fargo & Company initiated coverage on shares of Centerspace in a report on Wednesday, March 19th. They issued an "equal weight" rating and a $68.00 price target on the stock. Raymond James Financial upgraded shares of Centerspace from an "outperform" rating to a "strong-buy" rating and upped their price target for the stock from $66.00 to $69.00 in a report on Thursday, May 15th. Finally, Piper Sandler lowered their price objective on shares of Centerspace from $75.00 to $68.00 and set a "neutral" rating for the company in a research note on Monday, May 5th.

Centerspace Trading Up 0.3%

NYSE CSR opened at $61.09 on Friday. The company's 50-day moving average price is $62.10 and its 200-day moving average price is $62.32. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.76. The stock has a market cap of $1.02 billion, a PE ratio of -54.54 and a beta of 0.72. Centerspace has a 12 month low of $54.13 and a 12 month high of $76.16.

Centerspace (NYSE:CSR - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $1.21 EPS for the quarter, hitting analysts' consensus estimates of $1.21. The firm had revenue of $67.09 million for the quarter, compared to analysts' expectations of $66.70 million. Centerspace had a negative net margin of 4.23% and a negative return on equity of 1.30%. Equities research analysts forecast that Centerspace will post 4.94 earnings per share for the current year.

Centerspace Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Friday, June 27th will be paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 5.04%. The ex-dividend date is Friday, June 27th. Centerspace's dividend payout ratio (DPR) is presently -275.00%.

Institutional Trading of Centerspace

A number of hedge funds have recently added to or reduced their stakes in CSR. Vanguard Group Inc. lifted its position in shares of Centerspace by 0.3% during the first quarter. Vanguard Group Inc. now owns 2,603,360 shares of the company's stock valued at $168,568,000 after buying an additional 8,994 shares during the last quarter. Silvercrest Asset Management Group LLC lifted its position in shares of Centerspace by 6.9% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 834,251 shares of the company's stock valued at $55,186,000 after buying an additional 54,204 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Centerspace by 7.3% during the fourth quarter. Geode Capital Management LLC now owns 415,680 shares of the company's stock valued at $27,503,000 after buying an additional 28,163 shares during the last quarter. Northern Trust Corp lifted its position in shares of Centerspace by 28.5% during the fourth quarter. Northern Trust Corp now owns 230,816 shares of the company's stock valued at $15,268,000 after buying an additional 51,259 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Centerspace by 17.7% during the fourth quarter. JPMorgan Chase & Co. now owns 227,399 shares of the company's stock valued at $15,042,000 after buying an additional 34,157 shares during the last quarter. 79.00% of the stock is owned by hedge funds and other institutional investors.

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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