Centerspace (NYSE:CSR) Given Average Rating of “Hold” by Brokerages

Centerspace (NYSE:CSR) has been given a consensus rating of “Hold” by the eight analysts that are covering the firm, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $73.63.

A number of brokerages have recently commented on CSR. Wedbush started coverage on shares of Centerspace in a report on Tuesday, December 17th. They set a “neutral” rating and a $72.00 price target on the stock. Royal Bank of Canada lifted their target price on Centerspace from $72.00 to $73.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. Janney Montgomery Scott raised Centerspace from a “neutral” rating to a “buy” rating and set a $72.00 price target for the company in a research note on Wednesday, January 15th. Finally, Wells Fargo & Company initiated coverage on Centerspace in a research note on Wednesday, March 19th. They issued an “equal weight” rating and a $68.00 price objective on the stock.

Hedge Funds Weigh In On Centerspace

Institutional investors and hedge funds have recently modified their holdings of the business. California State Teachers Retirement System increased its stake in shares of Centerspace by 1.9% in the 4th quarter. California State Teachers Retirement System now owns 14,401 shares of the company’s stock valued at $953,000 after acquiring an additional 268 shares in the last quarter. Phocas Financial Corp. increased its stake in Centerspace by 8.4% in the fourth quarter. Phocas Financial Corp. now owns 58,483 shares of the company’s stock valued at $3,869,000 after purchasing an additional 4,542 shares in the last quarter. Employees Retirement System of Texas raised its holdings in shares of Centerspace by 59.3% during the fourth quarter. Employees Retirement System of Texas now owns 43,000 shares of the company’s stock valued at $2,844,000 after purchasing an additional 16,000 shares during the period. Public Employees Retirement System of Ohio boosted its position in shares of Centerspace by 7.3% during the 4th quarter. Public Employees Retirement System of Ohio now owns 23,691 shares of the company’s stock worth $1,567,000 after purchasing an additional 1,621 shares in the last quarter. Finally, Westwood Holdings Group Inc. grew its stake in shares of Centerspace by 13.4% in the 4th quarter. Westwood Holdings Group Inc. now owns 113,104 shares of the company’s stock valued at $7,482,000 after buying an additional 13,386 shares during the period. 79.00% of the stock is currently owned by institutional investors.

Centerspace Price Performance

Shares of CSR opened at $64.58 on Thursday. The company has a quick ratio of 0.05, a current ratio of 0.04 and a debt-to-equity ratio of 0.74. The stock has a market cap of $1.08 billion, a PE ratio of -50.85 and a beta of 0.91. Centerspace has a 12-month low of $54.90 and a 12-month high of $76.16. The business has a 50-day simple moving average of $63.37 and a two-hundred day simple moving average of $67.18.

Centerspace (NYSE:CSR) last released its quarterly earnings data on Tuesday, February 18th. The company reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $1.36. Centerspace had a negative return on equity of 1.34% and a negative net margin of 4.34%. The company had revenue of $66.41 million during the quarter, compared to the consensus estimate of $65.96 million. Analysts anticipate that Centerspace will post 4.94 earnings per share for the current fiscal year.

Centerspace Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 8th. Shareholders of record on Friday, March 28th will be issued a $0.77 dividend. This is an increase from Centerspace’s previous quarterly dividend of $0.75. This represents a $3.08 dividend on an annualized basis and a yield of 4.77%. The ex-dividend date of this dividend is Friday, March 28th. Centerspace’s payout ratio is presently -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.