Centerspace (NYSE:CSR) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Centerspace (NYSE:CSR) have received an average recommendation of “Moderate Buy” from the six analysts that are currently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $67.57.

CSR has been the subject of a number of analyst reports. Piper Sandler raised their price target on Centerspace from $63.00 to $64.00 and gave the stock a “neutral” rating in a report on Monday, May 6th. Raymond James raised Centerspace from a “market perform” rating to an “outperform” rating and set a $75.00 price target for the company in a report on Friday, May 24th. Compass Point lowered Centerspace from a “buy” rating to a “neutral” rating and raised their price target for the stock from $65.00 to $68.00 in a report on Friday, May 3rd. Finally, Royal Bank of Canada raised their price target on Centerspace from $66.00 to $68.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st.

Institutional Investors Weigh In On Centerspace

Several large investors have recently added to or reduced their stakes in the business. Texas Permanent School Fund Corp raised its position in Centerspace by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 13,174 shares of the company’s stock valued at $753,000 after purchasing an additional 176 shares in the last quarter. Daiwa Securities Group Inc. raised its position in Centerspace by 4.9% during the first quarter. Daiwa Securities Group Inc. now owns 4,764 shares of the company’s stock valued at $272,000 after purchasing an additional 222 shares in the last quarter. Asset Management One Co. Ltd. raised its position in Centerspace by 1.3% during the fourth quarter. Asset Management One Co. Ltd. now owns 23,023 shares of the company’s stock valued at $1,366,000 after purchasing an additional 301 shares in the last quarter. SG Americas Securities LLC raised its position in Centerspace by 2.6% during the fourth quarter. SG Americas Securities LLC now owns 12,662 shares of the company’s stock valued at $737,000 after purchasing an additional 318 shares in the last quarter. Finally, New York State Common Retirement Fund raised its position in Centerspace by 1.6% during the fourth quarter. New York State Common Retirement Fund now owns 20,679 shares of the company’s stock valued at $1,204,000 after purchasing an additional 329 shares in the last quarter. Institutional investors own 79.00% of the company’s stock.

Centerspace Stock Performance

NYSE:CSR opened at $67.63 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.04 and a quick ratio of 0.04. The business has a fifty day simple moving average of $67.84 and a two-hundred day simple moving average of $60.62. Centerspace has a 1 year low of $46.74 and a 1 year high of $71.36. The company has a market capitalization of $1.01 billion, a P/E ratio of -84.54, a P/E/G ratio of 2.00 and a beta of 0.87.

Centerspace (NYSE:CSR) last released its earnings results on Monday, April 29th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.12 by ($1.49). Centerspace had a negative return on equity of 0.73% and a negative net margin of 2.38%. The firm had revenue of $64.51 million during the quarter, compared to analysts’ expectations of $65.30 million. During the same period in the prior year, the business earned $1.07 earnings per share. On average, analysts expect that Centerspace will post 4.86 earnings per share for the current year.

Centerspace Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 10th. Investors of record on Friday, June 28th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 4.44%. The ex-dividend date of this dividend is Friday, June 28th. Centerspace’s dividend payout ratio is -375.00%.

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.