Centerspace (NYSE:CSR) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Centerspace (NYSE:CSR) has received an average recommendation of “Moderate Buy” from the six brokerages that are currently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $71.29.

CSR has been the topic of several recent analyst reports. Raymond James upgraded shares of Centerspace from a “market perform” rating to an “outperform” rating and set a $75.00 target price on the stock in a research report on Friday, May 24th. Compass Point lowered shares of Centerspace from a “buy” rating to a “neutral” rating and upped their target price for the stock from $65.00 to $68.00 in a research report on Friday, May 3rd. Royal Bank of Canada increased 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 Wednesday, July 31st. BTIG Research increased their price target on shares of Centerspace from $69.00 to $79.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Finally, Piper Sandler increased their price target on shares of Centerspace from $64.00 to $75.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st.

Hedge Funds Weigh In On Centerspace

Hedge funds have recently made changes to their positions in the stock. Rothschild Investment LLC purchased a new position in shares of Centerspace in the 2nd quarter valued at $42,000. ICA Group Wealth Management LLC purchased a new position in shares of Centerspace in the 4th quarter valued at $55,000. Van ECK Associates Corp raised its stake in shares of Centerspace by 19.7% in the 4th quarter. Van ECK Associates Corp now owns 2,118 shares of the company’s stock valued at $123,000 after acquiring an additional 348 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in Centerspace during the 1st quarter worth $173,000. Finally, Victory Capital Management Inc. purchased a new stake in Centerspace during the 2nd quarter worth $209,000. Institutional investors and hedge funds own 79.00% of the company’s stock.

Centerspace Trading Up 1.0 %

NYSE CSR opened at $74.58 on Monday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.04 and a current ratio of 0.04. The firm has a market cap of $1.11 billion, a PE ratio of -93.23, a P/E/G ratio of 2.09 and a beta of 0.88. Centerspace has a one year low of $46.74 and a one year high of $75.15. The firm’s fifty day moving average is $69.31 and its two-hundred day moving average is $63.94.

Centerspace (NYSE:CSR) last issued its quarterly earnings results on Monday, July 29th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.20 by ($1.39). Centerspace had a negative return on equity of 0.67% and a negative net margin of 2.16%. The firm had revenue of $65.04 million for the quarter, compared to analyst estimates of $65.90 million. During the same quarter last year, the firm earned $1.28 earnings per share. Analysts expect that Centerspace will post 4.82 earnings per share for the current year.

Centerspace Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 10th. Shareholders of record on Friday, June 28th were issued a $0.75 dividend. The ex-dividend date was Friday, June 28th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 4.02%. Centerspace’s dividend payout ratio (DPR) is presently -375.00%.

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.