Centerspace (NYSE:CSR) Receives Consensus Recommendation of "Hold" from Brokerages

Key Points

• Centerspace has a consensus “Hold” rating: Seven of eight analysts recommend holding the stock, while one recommends buying it. The average 12-month price target is $63.80.
• Recent analysts have generally lowered price targets or downgraded the stock, including Wells Fargo and Piper Sandler setting targets of $60, while RBC reduced its target to $64.
• Centerspace reported quarterly EPS of $(0.07), beating estimates of $(0.13), and maintains a quarterly dividend of $0.77 per share, equivalent to a 5.4% annual yield.

Shares of Centerspace (NYSE:CSR - Get Free Report) have earned a consensus rating of "Hold" from the eight ratings firms that are covering the company, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $63.80.

A number of equities research analysts have issued reports on the company. Weiss Ratings upgraded Centerspace from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday. Royal Bank Of Canada lowered their price objective on shares of Centerspace from $67.00 to $64.00 and set an "outperform" rating on the stock in a research note on Wednesday. BTIG Research downgraded shares of Centerspace from a "buy" rating to a "neutral" rating in a report on Tuesday, June 16th. Wells Fargo & Company cut their target price on shares of Centerspace from $70.00 to $60.00 and set an "equal weight" rating for the company in a research report on Wednesday, July 22nd. Finally, Piper Sandler reduced their target price on shares of Centerspace from $64.00 to $60.00 and set a "neutral" rating for the company in a report on Tuesday, July 21st.

Insiders Place Their Bets

In related news, Director Rodney Jones-Tyson acquired 1,700 shares of Centerspace stock in a transaction dated Monday, June 22nd. The stock was purchased at an average cost of $55.26 per share, for a total transaction of $93,942.00. Following the purchase, the director directly owned 7,877 shares of the company's stock, valued at approximately $435,283.02. This trade represents a 27.52% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John A. Schissel bought 500 shares of the firm's stock in a transaction that occurred on Thursday, June 18th. The stock was bought at an average cost of $54.90 per share, for a total transaction of $27,450.00. Following the completion of the acquisition, the director owned 17,195 shares in the company, valued at $944,005.50. This trade represents a 2.99% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 0.49% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. BlackRock Inc. purchased a new position in shares of Centerspace during the 2nd quarter valued at $167,912,000. Wellington Management Group LLP boosted its holdings in Centerspace by 324.4% in the 4th quarter. Wellington Management Group LLP now owns 855,869 shares of the company's stock worth $57,104,000 after buying an additional 654,209 shares during the period. Voss Capital LP purchased a new stake in Centerspace in the 4th quarter worth $22,068,000. Long Pond Capital LP increased its stake in Centerspace by 108.0% in the 4th quarter. Long Pond Capital LP now owns 444,101 shares of the company's stock worth $29,630,000 after buying an additional 230,638 shares in the last quarter. Finally, Millennium Management LLC raised its holdings in Centerspace by 307.3% during the first quarter. Millennium Management LLC now owns 184,051 shares of the company's stock valued at $11,917,000 after acquiring an additional 138,861 shares during the period. Institutional investors own 79.00% of the company's stock.

Centerspace Stock Performance

CSR stock opened at $56.63 on Friday. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.03 and a quick ratio of 0.03. Centerspace has a 1 year low of $53.00 and a 1 year high of $69.61. The company has a market cap of $950.90 million, a P/E ratio of 44.95 and a beta of 0.88. The stock's fifty day moving average price is $56.72 and its 200-day moving average price is $61.26.

Centerspace (NYSE:CSR - Get Free Report) last posted its quarterly earnings data on Monday, August 3rd. The company reported ($0.07) EPS for the quarter, beating analysts' consensus estimates of ($0.13) by $0.06. Centerspace had a return on equity of 2.58% and a net margin of 7.97%.The company had revenue of $65.78 million during the quarter, compared to analysts' expectations of $66.29 million. Centerspace has set its FY 2026 guidance at 4.580-4.680 EPS. On average, equities analysts forecast that Centerspace will post 4.63 earnings per share for the current year.

Centerspace Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 14th. Stockholders of record on Monday, June 29th were given a dividend of $0.77 per share. The ex-dividend date of this dividend was Monday, June 29th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 5.4%. Centerspace's payout ratio is presently 244.44%.

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. Centerspace was named a Top Workplace for the fourth consecutive year in 2023 by the Minneapolis Star Tribune.

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