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

Shares of Centerspace (NYSE:CSR) have received an average rating of “Hold” from the seven research firms that are currently covering the stock, Marketbeat Ratings reports. Six analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $68.3333.

A number of equities research analysts have recently commented on CSR shares. Wall Street Zen lowered Centerspace from a “hold” rating to a “strong sell” rating in a research report on Saturday, February 21st. Royal Bank Of Canada boosted their price objective on Centerspace from $68.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, February 19th. Cantor Fitzgerald reissued a “neutral” rating and set a $65.00 target price on shares of Centerspace in a research note on Monday, January 5th. Piper Sandler raised their target price on shares of Centerspace from $66.00 to $69.00 and gave the stock a “neutral” rating in a report on Thursday, February 19th. Finally, Wells Fargo & Company cut their price target on shares of Centerspace from $74.00 to $69.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 5th.

Hedge Funds Weigh In On Centerspace

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wellington Management Group LLP raised its stake in shares of Centerspace by 324.4% in the 4th quarter. Wellington Management Group LLP now owns 855,869 shares of the company’s stock valued at $57,104,000 after purchasing an additional 654,209 shares during the period. Land & Buildings Investment Management LLC lifted its holdings in shares of Centerspace by 96.4% in the third quarter. Land & Buildings Investment Management LLC now owns 599,252 shares of the company’s stock valued at $35,296,000 after purchasing an additional 294,086 shares in the last quarter. Long Pond Capital LP boosted its position in shares of Centerspace by 108.0% during the fourth quarter. Long Pond Capital LP now owns 444,101 shares of the company’s stock worth $29,630,000 after buying an additional 230,638 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Centerspace by 9.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 340,286 shares of the company’s stock worth $22,704,000 after buying an additional 28,809 shares during the period. Finally, Voss Capital LP bought a new position in shares of Centerspace during the fourth quarter worth about $22,068,000. 79.00% of the stock is owned by institutional investors and hedge funds.

Centerspace Trading Down 0.1%

CSR opened at $59.82 on Monday. The firm’s fifty day moving average is $61.92 and its two-hundred day moving average is $62.64. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.04 and a current ratio of 0.04. The firm has a market cap of $1.00 billion, a PE ratio of 59.82 and a beta of 0.81. Centerspace has a twelve month low of $52.76 and a twelve month high of $69.15.

Centerspace (NYSE:CSR) last announced its quarterly earnings results on Tuesday, February 17th. The company reported ($1.10) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.21 by ($2.31). Centerspace had a net margin of 6.25% and a return on equity of 2.00%. The firm had revenue of $66.62 million during the quarter, compared to analyst estimates of $69.77 million. Centerspace has set its FY 2026 guidance at 4.810-5.050 EPS. Equities research analysts anticipate that Centerspace will post 4.94 EPS for the current year.

Centerspace Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 14th. Investors of record on Monday, March 30th will be issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date is Monday, March 30th. Centerspace’s dividend payout ratio (DPR) is presently 308.00%.

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