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

Centerspace (NYSE:CSR) has earned an average rating of “Hold” from the eight analysts that are covering the company, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $68.80.

Several brokerages have recently commented on CSR. Wells Fargo & Company raised their price target on Centerspace from $69.00 to $70.00 and gave the company an “equal weight” rating in a research note on Monday, June 1st. Royal Bank Of Canada lowered their price objective on shares of Centerspace from $71.00 to $67.00 and set an “outperform” rating for the company in a research note on Friday, June 5th. Wall Street Zen upgraded shares of Centerspace from a “strong sell” rating to a “sell” rating in a report on Sunday, May 17th. Weiss Ratings downgraded shares of Centerspace from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, June 17th. Finally, BTIG Research lowered shares of Centerspace from a “buy” rating to a “neutral” rating in a report on Tuesday, June 16th.

Centerspace Trading Down 0.9%

CSR opened at $55.26 on Wednesday. The stock’s fifty day moving average is $60.97 and its two-hundred day moving average is $62.55. The company has a market capitalization of $928.28 million, a P/E ratio of 122.79 and a beta of 0.89. Centerspace has a 52 week low of $52.76 and a 52 week high of $69.61. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.88.

Centerspace (NYSE:CSR) last issued its earnings results on Monday, May 4th. The company reported ($0.77) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.48). Centerspace had a net margin of 2.93% and a return on equity of 0.94%. The firm had revenue of $65.07 million for the quarter, compared to the consensus estimate of $66.54 million. Centerspace has set its FY 2026 guidance at 4.810-5.050 EPS. Analysts forecast that Centerspace will post 4.85 earnings per share for the current year.

Centerspace Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 14th. Stockholders of record on Monday, June 29th were paid a dividend of $0.77 per share. The ex-dividend date was Monday, June 29th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 5.6%. Centerspace’s dividend payout ratio (DPR) is currently 684.44%.

Insider Activity at Centerspace

In other Centerspace news, Director John A. Schissel acquired 500 shares of the business’s stock in a transaction that occurred on Thursday, June 18th. The shares were bought at an average cost of $54.90 per share, with a total value of $27,450.00. Following the completion of the acquisition, the director directly owned 17,195 shares in the company, valued at $944,005.50. This represents a 2.99% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Rodney Jones-Tyson acquired 1,700 shares of Centerspace stock in a transaction that occurred on Monday, June 22nd. The stock was acquired at an average cost of $55.26 per share, with a total value of $93,942.00. Following the purchase, the director directly owned 7,877 shares of the company’s stock, valued at $435,283.02. This represents a 27.52% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 0.49% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Amundi raised its position in shares of Centerspace by 4.4% in the 1st quarter. Amundi now owns 11,052 shares of the company’s stock worth $635,000 after acquiring an additional 462 shares in the last quarter. Quantinno Capital Management LP boosted its position in Centerspace by 19.2% during the first quarter. Quantinno Capital Management LP now owns 34,406 shares of the company’s stock valued at $1,977,000 after purchasing an additional 5,534 shares in the last quarter. ABS Direct Equity Fund LLC boosted its position in Centerspace by 131.3% during the first quarter. ABS Direct Equity Fund LLC now owns 25,000 shares of the company’s stock valued at $1,436,000 after purchasing an additional 14,193 shares in the last quarter. Cetera Investment Advisers bought a new stake in Centerspace during the first quarter valued at about $208,000. Finally, Dimensional Fund Advisors LP grew its stake in Centerspace by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 238,535 shares of the company’s stock valued at $13,704,000 after purchasing an additional 2,139 shares during the last quarter. 79.00% of the stock is currently owned by hedge funds and other institutional investors.

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.