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

Shares of Centerspace (NYSE:CSR) have been assigned a consensus recommendation of “Hold” from the eight ratings firms that are covering the firm, Marketbeat reports. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $73.63.

Several research firms recently issued reports on CSR. Royal Bank of Canada boosted their price target on Centerspace from $72.00 to $73.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Wells Fargo & Company initiated coverage on shares of Centerspace in a research note on Wednesday, March 19th. They issued an “equal weight” rating and a $68.00 price target on the stock. Wedbush started coverage on shares of Centerspace in a research report on Tuesday, December 17th. They set a “neutral” rating and a $72.00 price target on the stock. Finally, Janney Montgomery Scott raised shares of Centerspace from a “neutral” rating to a “buy” rating and set a $72.00 price objective for the company in a report on Wednesday, January 15th.

Centerspace Price Performance

NYSE:CSR opened at $64.58 on Thursday. The firm’s fifty day moving average price is $63.37 and its two-hundred day moving average price is $67.18. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.04 and a quick ratio of 0.05. The company has a market cap of $1.08 billion, a P/E ratio of -50.85 and a beta of 0.91. Centerspace has a one year low of $54.90 and a one year high of $76.16.

Centerspace (NYSE:CSR) last released its quarterly earnings results on Tuesday, February 18th. The company reported $1.21 earnings per share for the quarter, beating the consensus estimate of ($0.15) by $1.36. Centerspace had a negative net margin of 4.34% and a negative return on equity of 1.34%. The firm had revenue of $66.41 million for the quarter, compared to analysts’ expectations of $65.96 million. Equities analysts expect that Centerspace will post 4.94 earnings per share for the current year.

Centerspace Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 8th. Investors of record on Friday, March 28th will be given a dividend of $0.77 per share. This is a positive change from Centerspace’s previous quarterly dividend of $0.75. The ex-dividend date is Friday, March 28th. This represents a $3.08 annualized dividend and a dividend yield of 4.77%. Centerspace’s dividend payout ratio (DPR) is currently -242.52%.

Institutional Investors Weigh In On Centerspace

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. raised its holdings in shares of Centerspace by 25.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 193,242 shares of the company’s stock worth $13,618,000 after buying an additional 39,380 shares in the last quarter. Geode Capital Management LLC raised its stake in Centerspace by 3.1% during the third quarter. Geode Capital Management LLC now owns 387,517 shares of the company’s stock worth $27,314,000 after acquiring an additional 11,749 shares in the last quarter. 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 acquiring an additional 9,415 shares during the last quarter. Captrust Financial Advisors acquired a new stake in shares of Centerspace in the 3rd quarter valued at approximately $234,000. Finally, Intech Investment Management LLC bought a new stake in shares of Centerspace during the 3rd quarter valued at approximately $403,000. 79.00% of the stock is currently owned by institutional investors.

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.