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

Centerspace (NYSE:CSR) has earned an average recommendation of “Moderate Buy” from the nine research firms that are presently covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $71.56.

A number of brokerages have recently commented on CSR. UBS Group began coverage on shares of Centerspace in a report on Monday, April 7th. They set a “neutral” rating and a $67.00 price target on the stock. BMO Capital Markets upgraded shares of Centerspace from a “market perform” rating to an “outperform” rating and set a $77.00 price objective on the stock in a report on Friday, April 4th. Raymond James raised shares of Centerspace from an “outperform” rating to a “strong-buy” rating and boosted their target price for the stock from $66.00 to $69.00 in a research report on Thursday, May 15th. Royal Bank of Canada upped their price objective on shares of Centerspace from $71.00 to $72.00 and gave the stock an “outperform” rating in a research report on Monday, May 5th. Finally, Wells Fargo & Company initiated coverage on shares of Centerspace in a research report on Wednesday, March 19th. They issued an “equal weight” rating and a $68.00 price objective for the company.

Centerspace Stock Up 1.7%

Centerspace stock opened at $64.94 on Tuesday. The stock has a market cap of $1.09 billion, a P/E ratio of -51.13 and a beta of 0.75. The company has a quick ratio of 0.05, a current ratio of 0.04 and a debt-to-equity ratio of 0.74. Centerspace has a twelve month low of $54.13 and a twelve month high of $76.16. The company’s 50-day moving average price is $60.67 and its two-hundred day moving average price is $63.37.

Centerspace (NYSE:CSR) last announced its quarterly earnings data on Thursday, May 1st. The company reported $1.21 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.21. Centerspace had a negative net margin of 4.34% and a negative return on equity of 1.34%. The business had revenue of $67.09 million for the quarter, compared to analysts’ expectations of $66.70 million. As a group, analysts expect that Centerspace will post 4.94 EPS for the current year.

Centerspace Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Friday, June 27th will be paid a $0.77 dividend. The ex-dividend date of this dividend is Friday, June 27th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.74%. Centerspace’s dividend payout ratio is presently -275.00%.

Hedge Funds Weigh In On Centerspace

Several large investors have recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its holdings in shares of Centerspace by 11.6% in the fourth quarter. Principal Financial Group Inc. now owns 90,753 shares of the company’s stock worth $6,003,000 after buying an additional 9,415 shares in the last quarter. Intech Investment Management LLC increased its position in Centerspace by 76.8% during the fourth quarter. Intech Investment Management LLC now owns 10,108 shares of the company’s stock valued at $669,000 after acquiring an additional 4,391 shares during the last quarter. Raymond James Financial Inc. bought a new position in Centerspace during the fourth quarter valued at $417,000. Geode Capital Management LLC grew its holdings in shares of Centerspace by 7.3% in the fourth quarter. Geode Capital Management LLC now owns 415,680 shares of the company’s stock worth $27,503,000 after purchasing an additional 28,163 shares during the last quarter. Finally, Asset Management One Co. Ltd. grew its holdings in shares of Centerspace by 8.5% in the fourth quarter. Asset Management One Co. Ltd. now owns 25,091 shares of the company’s stock worth $1,653,000 after purchasing an additional 1,975 shares during the last quarter. Hedge funds and other institutional investors 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.