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

Centerspace (NYSE:CSR - Get Free Report) has been given an average recommendation of "Moderate Buy" by the ten ratings firms that are presently covering the company, Marketbeat.com reports. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $71.70.

A number of brokerages have issued reports on CSR. Royal Bank of Canada upped their target price on Centerspace from $72.00 to $73.00 and gave the stock an "outperform" rating in a research report on Thursday, February 20th. BMO Capital Markets upgraded shares of Centerspace from a "market perform" rating to an "outperform" rating and set a $77.00 target price on the stock in a research note on Friday, April 4th. Raymond James raised shares of Centerspace from a "market perform" rating to an "outperform" rating and set a $66.00 target price for the company in a research report on Monday. Janney Montgomery Scott raised Centerspace from a "neutral" rating to a "buy" rating and set a $72.00 price target on the stock in a research report on Wednesday, January 15th. Finally, UBS Group initiated coverage on Centerspace in a research report on Monday, April 7th. They set a "neutral" rating and a $67.00 price objective for the company.

Institutional Investors Weigh In On Centerspace

Several large investors have recently modified their holdings of the stock. Smartleaf Asset Management LLC boosted its stake in Centerspace by 370.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 381 shares of the company's stock valued at $25,000 after buying an additional 300 shares in the last quarter. Sterling Capital Management LLC boosted its stake in shares of Centerspace by 903.8% in the 4th quarter. Sterling Capital Management LLC now owns 522 shares of the company's stock valued at $35,000 after purchasing an additional 470 shares in the last quarter. KBC Group NV boosted its stake in shares of Centerspace by 75.9% in the 4th quarter. KBC Group NV now owns 1,080 shares of the company's stock valued at $71,000 after purchasing an additional 466 shares in the last quarter. Summit Investment Advisors Inc. grew its holdings in shares of Centerspace by 15.2% in the 4th quarter. Summit Investment Advisors Inc. now owns 1,732 shares of the company's stock worth $115,000 after purchasing an additional 229 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of Centerspace during the 4th quarter worth about $196,000. 79.00% of the stock is currently owned by institutional investors.

Centerspace Stock Down 1.0 %

Shares of NYSE:CSR traded down $0.61 during midday trading on Monday, hitting $59.07. 12,595 shares of the stock were exchanged, compared to its average volume of 110,836. The business's fifty day simple moving average is $62.20 and its two-hundred day simple moving average is $65.52. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.05 and a current ratio of 0.04. Centerspace has a 52-week low of $54.13 and a 52-week high of $76.16. The company has a market capitalization of $988.06 million, a PE ratio of -46.51 and a beta of 0.79.

Centerspace (NYSE:CSR - Get Free Report) last announced its quarterly earnings results on Tuesday, February 18th. The company reported $1.21 EPS for the quarter, topping the consensus estimate of ($0.15) by $1.36. The company had revenue of $66.41 million for the quarter, compared to analyst estimates of $65.96 million. Centerspace had a negative net margin of 4.34% and a negative return on equity of 1.34%. As a group, research analysts predict that Centerspace will post 4.94 earnings per share for the current fiscal year.

Centerspace Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 8th. Investors of record on Friday, March 28th were given a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 5.21%. The ex-dividend date was Friday, March 28th. This is a positive change from Centerspace's previous quarterly dividend of $0.75. Centerspace's dividend payout ratio is -242.52%.

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.