UBS Group Issues Pessimistic Forecast for Centerspace (NYSE:CSR) Stock Price

Centerspace (NYSE:CSR - Free Report) had its price objective lowered by UBS Group from $67.00 to $60.00 in a research report released on Tuesday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other research firms also recently issued reports on CSR. Piper Sandler dropped their price objective on shares of Centerspace from $75.00 to $68.00 and set a "neutral" rating on the stock in a report on Monday, May 5th. Wells Fargo & Company assumed coverage on shares of Centerspace in a research note on Wednesday, March 19th. They issued an "equal weight" rating and a $68.00 price objective for the company. Raymond James Financial upgraded shares of Centerspace from an "outperform" rating to a "strong-buy" rating and lifted their target price for the stock from $66.00 to $69.00 in a research report on Thursday, May 15th. BMO Capital Markets upgraded shares of Centerspace from a "market perform" rating to an "outperform" rating and set a $77.00 price target for the company in a research note on Friday, April 4th. Finally, Royal Bank Of Canada upped their price objective on shares of Centerspace from $71.00 to $72.00 and gave the company an "outperform" rating in a report on Monday, May 5th. Four investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Centerspace presently has an average rating of "Moderate Buy" and an average price target of $70.78.

Centerspace Trading Up 0.3%

Shares of CSR traded up $0.18 during midday trading on Tuesday, hitting $59.62. 45,979 shares of the stock were exchanged, compared to its average volume of 115,640. The firm has a market cap of $998.04 million, a P/E ratio of -53.32 and a beta of 0.72. The stock has a fifty day simple moving average of $62.02 and a 200 day simple moving average of $62.01. Centerspace has a 52-week low of $54.13 and a 52-week high of $76.16. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.05 and a current ratio of 0.05.

Centerspace (NYSE:CSR - Get Free Report) last issued its quarterly 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 company had revenue of $67.09 million for the quarter, compared to analyst estimates of $66.70 million. Centerspace had a negative return on equity of 1.30% and a negative net margin of 4.23%. On average, research analysts anticipate that Centerspace will post 4.94 EPS for the current fiscal year.

Centerspace Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 10th. Shareholders of record on Friday, June 27th were paid a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 5.17%. The ex-dividend date was Friday, June 27th. Centerspace's dividend payout ratio is presently -275.00%.

Hedge Funds Weigh In On Centerspace

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sterling Capital Management LLC grew its position in 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. New Age Alpha Advisors LLC acquired a new stake in shares of Centerspace during the 1st quarter worth approximately $86,000. Summit Investment Advisors Inc. raised 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 acquiring an additional 229 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in Centerspace during the fourth quarter worth $196,000. Finally, Strs Ohio acquired a new position in shares of Centerspace during the first quarter valued at about $201,000. 79.00% of the stock is owned by 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.