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

Centerspace (NYSE:CSR) has earned an average rating of “Moderate Buy” from the six research firms that are presently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $72.29.

A number of research analysts have recently issued reports on CSR shares. Royal Bank of Canada lifted their target price on shares of Centerspace from $72.00 to $73.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. BTIG Research raised their price target on shares of Centerspace from $69.00 to $79.00 and gave the company a “buy” rating in a report on Monday, August 12th. Piper Sandler lifted their target price on shares of Centerspace from $64.00 to $75.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Finally, Raymond James boosted their price target on shares of Centerspace from $75.00 to $82.00 and gave the company an “outperform” rating in a report on Thursday, August 29th.

Centerspace Price Performance

Shares of NYSE:CSR opened at $69.75 on Tuesday. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.79. Centerspace has a 1 year low of $46.74 and a 1 year high of $76.16. The business has a fifty day simple moving average of $72.83 and a 200 day simple moving average of $68.38. The firm has a market cap of $1.04 billion, a price-to-earnings ratio of -87.19, a P/E/G ratio of 2.18 and a beta of 0.89.

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 the consensus estimate of $1.20 by ($1.39). The business had revenue of $65.04 million during the quarter, compared to analyst estimates of $65.90 million. Centerspace had a negative net margin of 2.16% and a negative return on equity of 0.67%. During the same period in the prior year, the business posted $1.28 earnings per share. As a group, sell-side analysts predict that Centerspace will post 4.83 earnings per share for the current fiscal year.

Centerspace Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Monday, September 30th will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 4.30%. The ex-dividend date of this dividend is Monday, September 30th. Centerspace’s dividend payout ratio (DPR) is presently -375.00%.

Hedge Funds Weigh In On Centerspace

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC raised its position in Centerspace by 1,438.2% during the 1st quarter. Janus Henderson Group PLC now owns 97,940 shares of the company’s stock valued at $5,597,000 after purchasing an additional 91,573 shares during the last quarter. Millennium Management LLC boosted its position in shares of Centerspace by 377.3% during the second quarter. Millennium Management LLC now owns 43,604 shares of the company’s stock valued at $2,949,000 after buying an additional 34,469 shares during the period. Marshall Wace LLP bought a new stake in shares of Centerspace during the second quarter valued at approximately $1,046,000. Dimensional Fund Advisors LP raised its stake in shares of Centerspace by 6.9% during the second quarter. Dimensional Fund Advisors LP now owns 223,770 shares of the company’s stock valued at $15,134,000 after acquiring an additional 14,440 shares in the last quarter. Finally, Cornercap Investment Counsel Inc. bought a new position in Centerspace in the second quarter worth approximately $776,000. Institutional investors own 79.00% of the company’s stock.

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.