Centerspace (NYSE:CSR) Receives Consensus Rating of "Moderate Buy" from Analysts

Key Points

• Centerspace has received an average recommendation of "Moderate Buy" from nine rating firms, with a target price of $70.78.
• Recent analyst activity includes upgrades from Raymond James Financial to "Strong Buy" and a price increase to $69.00, while UBS Group lowered their target to $60.00 with a "neutral" rating.
• The company declared a quarterly dividend of $0.77, resulting in an annualized dividend yield of 5.39%, despite a negative payout ratio of -275.00%.

Centerspace (NYSE:CSR - Get Free Report) has earned a consensus rating of "Moderate Buy" from the nine brokerages that are presently covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $70.78.

Several research analysts have issued reports on the company. Piper Sandler dropped their price target on Centerspace from $75.00 to $68.00 and set a "neutral" rating on the stock in a report on Monday, May 5th. Raymond James Financial raised shares of Centerspace from an "outperform" rating to a "strong-buy" rating and boosted their target price for the company from $66.00 to $69.00 in a research note on Thursday, May 15th. 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 research note on Monday, May 5th. BMO Capital Markets upgraded shares of Centerspace from a "market perform" rating to an "outperform" rating and set a $77.00 price objective for the company in a report on Friday, April 4th. Finally, UBS Group decreased their price objective on shares of Centerspace from $67.00 to $60.00 and set a "neutral" rating for the company in a report on Tuesday, July 15th.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Hilltop National Bank acquired a new position in Centerspace in the second quarter worth about $29,000. Sterling Capital Management LLC increased its holdings in shares of Centerspace by 903.8% during the fourth quarter. Sterling Capital Management LLC now owns 522 shares of the company's stock worth $35,000 after buying an additional 470 shares in the last quarter. Wolff Wiese Magana LLC grew its stake in shares of Centerspace by 897.3% during the second quarter. Wolff Wiese Magana LLC now owns 748 shares of the company's stock valued at $45,000 after purchasing 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 valued at approximately $86,000. Finally, Summit Investment Advisors Inc. grew its stake in shares of Centerspace by 15.2% during the fourth quarter. Summit Investment Advisors Inc. now owns 1,732 shares of the company's stock valued at $115,000 after purchasing an additional 229 shares during the last quarter. Institutional investors and hedge funds own 79.00% of the company's stock.

Centerspace Stock Performance

Shares of NYSE CSR traded down $0.23 during midday trading on Wednesday, hitting $54.20. 169,417 shares of the company's stock were exchanged, compared to its average volume of 105,023. The firm has a market cap of $907.36 million, a P/E ratio of -48.40 and a beta of 0.72. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.05 and a quick ratio of 0.05. Centerspace has a twelve month low of $53.04 and a twelve month high of $76.16. The stock's 50 day moving average price is $60.93 and its 200-day moving average price is $61.51.

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

Centerspace Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 10th. Stockholders of record on Friday, June 27th were given a dividend of $0.77 per share. The ex-dividend date of this dividend was Friday, June 27th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 5.7%. Centerspace's dividend payout ratio is currently -275.00%.

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.