Centerspace (NYSE:CSR) Receives Average Recommendation of "Moderate Buy" from Analysts

Shares of Centerspace (NYSE:CSR - Get Free Report) have been given a consensus rating of "Moderate Buy" by the nine ratings firms that are covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $71.56.

CSR has been the topic of several research analyst reports. Royal Bank of Canada increased their price target on shares of Centerspace from $71.00 to $72.00 and gave the company an "outperform" rating in a research note on Monday, May 5th. BMO Capital Markets upgraded Centerspace from a "market perform" rating to an "outperform" rating and set a $77.00 price target on the stock in a report on Friday, April 4th. Raymond James raised Centerspace from an "outperform" rating to a "strong-buy" rating and boosted their price objective for the stock from $66.00 to $69.00 in a report on Thursday, May 15th. Piper Sandler reduced their target price on shares of Centerspace from $75.00 to $68.00 and set a "neutral" rating on the stock in a research note on Monday, May 5th. Finally, Wells Fargo & Company started coverage on shares of Centerspace in a research report on Wednesday, March 19th. They set an "equal weight" rating and a $68.00 price target for the company.

Centerspace Price Performance

Centerspace stock traded down $1.41 on Tuesday, reaching $63.34. The company's stock had a trading volume of 58,503 shares, compared to its average volume of 113,945. The business's fifty day moving average price is $60.96 and its 200 day moving average price is $63.33. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.05 and a current ratio of 0.04. The company has a market cap of $1.06 billion, a price-to-earnings ratio of -49.87 and a beta of 0.75. Centerspace has a twelve month low of $54.13 and a twelve month high of $76.16.

Centerspace (NYSE:CSR - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $1.21 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.21. The business had revenue of $67.09 million for the quarter, compared to the consensus estimate of $66.70 million. Centerspace had a negative net margin of 4.34% and a negative return on equity of 1.34%. Equities analysts expect that Centerspace will post 4.94 earnings per share for the current fiscal year.

Centerspace Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Friday, June 27th will be issued a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 4.86%. The ex-dividend date is Friday, June 27th. Centerspace's dividend payout ratio (DPR) is -275.00%.

Institutional Trading of Centerspace

Several hedge funds have recently added to or reduced their stakes in CSR. Principal Financial Group Inc. increased its holdings in shares of Centerspace by 11.6% in the fourth quarter. Principal Financial Group Inc. now owns 90,753 shares of the company's stock worth $6,003,000 after acquiring an additional 9,415 shares in the last quarter. Intech Investment Management LLC grew its position in shares of Centerspace by 76.8% in the 4th quarter. Intech Investment Management LLC now owns 10,108 shares of the company's stock valued at $669,000 after purchasing an additional 4,391 shares during the period. Raymond James Financial Inc. bought a new stake in Centerspace during the 4th quarter worth approximately $417,000. Geode Capital Management LLC increased its stake in Centerspace by 7.3% during the 4th quarter. Geode Capital Management LLC now owns 415,680 shares of the company's stock worth $27,503,000 after purchasing an additional 28,163 shares in the last quarter. Finally, Asset Management One Co. Ltd. raised its holdings in shares of Centerspace by 8.5% during the fourth quarter. Asset Management One Co. Ltd. now owns 25,091 shares of the company's stock worth $1,653,000 after acquiring an additional 1,975 shares during the period. Institutional investors and hedge funds own 79.00% of the company's stock.

Centerspace Company Profile

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.