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

Shares of Centerspace (NYSE:CSR) have been assigned a consensus recommendation of “Moderate Buy” from the six ratings firms that are presently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $69.86.

A number of equities research analysts have issued reports on the stock. Royal Bank of Canada increased their price objective on shares of Centerspace from $72.00 to $73.00 and gave the company an “outperform” rating in a report on Wednesday. Compass Point lowered shares of Centerspace from a “buy” rating to a “neutral” rating and increased their price objective for the company from $65.00 to $68.00 in a report on Friday, May 3rd. Piper Sandler raised their target price on shares of Centerspace from $64.00 to $75.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, Raymond James raised shares of Centerspace from a “market perform” rating to an “outperform” rating and set a $75.00 target price for the company in a report on Friday, May 24th.

Centerspace Price Performance

CSR opened at $69.83 on Thursday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.04 and a current ratio of 0.04. The stock has a market capitalization of $1.07 billion, a P/E ratio of -87.29, a P/E/G ratio of 2.03 and a beta of 0.88. The company’s 50-day simple moving average is $68.41 and its two-hundred day simple moving average is $62.58. Centerspace has a 52-week low of $46.74 and a 52-week high of $71.50.

Centerspace (NYSE:CSR) last issued its quarterly earnings data on Monday, July 29th. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of $1.20 by ($1.39). Centerspace had a negative return on equity of 0.67% and a negative net margin of 2.16%. The business had revenue of $65.04 million during the quarter, compared to the consensus estimate of $65.90 million. During the same quarter last year, the company earned $1.28 EPS. As a group, analysts predict that Centerspace will post 4.86 EPS for the current year.

Centerspace Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 10th. Investors of record on Friday, June 28th were given a $0.75 dividend. The ex-dividend date was Friday, June 28th. This represents a $3.00 dividend on an annualized basis and a yield of 4.30%. Centerspace’s dividend payout ratio is presently -375.00%.

Institutional Trading of Centerspace

Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in shares of Centerspace by 0.4% during the first quarter. Vanguard Group Inc. now owns 2,401,497 shares of the company’s stock worth $137,222,000 after purchasing an additional 9,984 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Centerspace by 1.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 251,117 shares of the company’s stock valued at $14,615,000 after acquiring an additional 3,272 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Centerspace by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 139,188 shares of the company’s stock valued at $9,413,000 after acquiring an additional 605 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of Centerspace by 1,438.2% in the first quarter. Janus Henderson Group PLC now owns 97,940 shares of the company’s stock valued at $5,597,000 after acquiring an additional 91,573 shares in the last quarter. Finally, Westwood Holdings Group Inc. bought a new stake in shares of Centerspace in the fourth quarter valued at about $5,238,000. 79.00% of the stock is currently owned by 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.