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

Shares of Centerspace (NYSE:CSR) have been assigned an average recommendation of “Hold” from the nine ratings firms that are currently covering the stock, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $69.3750.

Several brokerages have issued reports on CSR. UBS Group increased their price target on Centerspace from $60.00 to $63.00 and gave the stock a “neutral” rating in a report on Monday, November 10th. Wells Fargo & Company increased their target price on Centerspace from $60.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Monday, November 17th. Raymond James Financial restated a “market perform” rating on shares of Centerspace in a report on Wednesday, November 12th. Piper Sandler reduced their price target on shares of Centerspace from $68.00 to $66.00 and set a “neutral” rating for the company in a report on Monday, November 10th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Centerspace in a research report on Monday, December 15th.

Institutional Investors Weigh In On Centerspace

A number of hedge funds and other institutional investors have recently bought and sold shares of CSR. HighTower Advisors LLC acquired a new position in Centerspace during the 1st quarter worth approximately $321,000. Hsbc Holdings PLC lifted its position in shares of Centerspace by 2.2% in the first quarter. Hsbc Holdings PLC now owns 13,863 shares of the company’s stock worth $898,000 after purchasing an additional 294 shares in the last quarter. Graham Capital Management L.P. boosted its holdings in Centerspace by 128.3% during the first quarter. Graham Capital Management L.P. now owns 7,850 shares of the company’s stock worth $508,000 after purchasing an additional 4,411 shares during the last quarter. Royal Bank of Canada grew its position in Centerspace by 199.5% in the first quarter. Royal Bank of Canada now owns 15,720 shares of the company’s stock valued at $1,019,000 after purchasing an additional 10,472 shares in the last quarter. Finally, AQR Capital Management LLC increased its stake in Centerspace by 32.5% in the 1st quarter. AQR Capital Management LLC now owns 4,891 shares of the company’s stock valued at $317,000 after buying an additional 1,200 shares during the last quarter. Institutional investors and hedge funds own 79.00% of the company’s stock.

Centerspace Trading Up 0.4%

CSR opened at $67.30 on Friday. The firm’s fifty day moving average is $63.79 and its two-hundred day moving average is $60.53. The firm has a market cap of $1.12 billion, a PE ratio of 37.60 and a beta of 0.78. Centerspace has a twelve month low of $52.76 and a twelve month high of $69.15. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.18 and a current ratio of 0.18.

Centerspace (NYSE:CSR) last released its quarterly earnings data on Monday, November 3rd. The company reported $1.19 EPS for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.03). Centerspace had a net margin of 11.14% and a return on equity of 3.52%. Centerspace has set its FY 2025 guidance at 4.880-4.960 EPS. Equities research analysts anticipate that Centerspace will post 4.94 EPS for the current year.

Centerspace Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 12th. Stockholders of record on Tuesday, December 30th will be given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 4.6%. The ex-dividend date of this dividend is Tuesday, December 30th. Centerspace’s dividend payout ratio is currently 172.07%.

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. Centerspace was named a Top Workplace for the fourth consecutive year in 2023 by the Minneapolis Star Tribune.