Centerspace (NYSE:CSR) Upgraded to Outperform at Raymond James

Raymond James upgraded shares of Centerspace (NYSE:CSR - Free Report) from a market perform rating to an outperform rating in a report published on Monday morning, MarketBeat Ratings reports. The firm currently has $66.00 price objective on the stock.

Several other analysts have also commented on CSR. Royal Bank of Canada lifted their price target on shares of Centerspace from $72.00 to $73.00 and gave the company an "outperform" rating in a research report on Thursday, February 20th. UBS Group initiated coverage on Centerspace in a research report on Monday, April 7th. They issued a "neutral" rating and a $67.00 target price on the stock. BMO Capital Markets upgraded Centerspace from a "market perform" rating to an "outperform" rating and set a $77.00 price target for the company in a report on Friday, April 4th. Wells Fargo & Company assumed coverage on shares of Centerspace in a research report on Wednesday, March 19th. They issued an "equal weight" rating and a $68.00 target price on the stock. Finally, Janney Montgomery Scott upgraded shares of Centerspace from a "neutral" rating to a "buy" rating and set a $72.00 price target for the company in a research report on Wednesday, January 15th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Centerspace currently has a consensus rating of "Moderate Buy" and a consensus price target of $71.70.

Centerspace Trading Down 0.2 %

NYSE CSR traded down $0.10 on Monday, reaching $59.58. 86,729 shares of the company were exchanged, compared to its average volume of 111,347. The company has a current ratio of 0.04, a quick ratio of 0.05 and a debt-to-equity ratio of 0.74. The business's fifty day moving average price is $62.14 and its 200 day moving average price is $65.45. The stock has a market capitalization of $996.54 million, a P/E ratio of -46.91 and a beta of 0.79. Centerspace has a fifty-two week low of $54.13 and a fifty-two week high of $76.16.

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

Centerspace Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 8th. Stockholders of record on Friday, March 28th were paid a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 5.17%. The ex-dividend date was Friday, March 28th. This is a boost from Centerspace's previous quarterly dividend of $0.75. Centerspace's dividend payout ratio (DPR) is presently -242.52%.

Institutional Trading of Centerspace

Several hedge funds have recently added to or reduced their stakes in CSR. Jane Street Group LLC raised its holdings in shares of Centerspace by 8.1% in the 3rd quarter. Jane Street Group LLC now owns 26,554 shares of the company's stock valued at $1,871,000 after purchasing an additional 1,983 shares in the last quarter. Barclays PLC increased its holdings in Centerspace by 1,553.4% in the third quarter. Barclays PLC now owns 102,859 shares of the company's stock valued at $7,249,000 after buying an additional 96,638 shares during the last quarter. Geode Capital Management LLC raised its stake in Centerspace by 3.1% in the third quarter. Geode Capital Management LLC now owns 387,517 shares of the company's stock valued at $27,314,000 after buying an additional 11,749 shares in the last quarter. Tidal Investments LLC purchased a new stake in Centerspace during the 3rd quarter worth about $339,000. Finally, Franklin Resources Inc. boosted its position in shares of Centerspace by 11.1% during the 3rd quarter. Franklin Resources Inc. now owns 9,957 shares of the company's stock worth $708,000 after acquiring an additional 992 shares in the last quarter. 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.