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

Centerspace (NYSE:CSR) has earned an average recommendation of “Hold” from the six brokerages that are covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $75.33.

Several equities analysts recently weighed in on the company. Raymond James cut Centerspace from an “outperform” rating to a “market perform” rating in a research report on Monday, October 21st. Wedbush initiated coverage on Centerspace in a report on Tuesday, December 17th. They set a “neutral” rating and a $72.00 price target for the company. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $76.00 price objective on shares of Centerspace in a research note on Wednesday, October 30th.

Centerspace Stock Performance

CSR stock opened at $60.22 on Friday. The firm has a 50 day moving average of $69.16 and a two-hundred day moving average of $70.55. Centerspace has a 12 month low of $52.26 and a 12 month high of $76.16. The company has a market capitalization of $997.97 million, a price-to-earnings ratio of -37.40, a P/E/G ratio of 2.04 and a beta of 0.91. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.70.

Centerspace (NYSE:CSR) last announced its quarterly earnings results on Monday, October 28th. The company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of $1.17 by ($1.57). The company had revenue of $65.03 million during the quarter, compared to analyst estimates of $66.35 million. Centerspace had a negative return on equity of 1.72% and a negative net margin of 5.57%. During the same period in the prior year, the firm earned $1.20 EPS. As a group, equities analysts anticipate that Centerspace will post 4.86 EPS for the current fiscal year.

Centerspace Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Monday, December 30th will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 4.98%. The ex-dividend date is Monday, December 30th. Centerspace’s dividend payout ratio is currently -186.34%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Centerspace by 35.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 579 shares of the company’s stock valued at $41,000 after purchasing an additional 150 shares during the last quarter. Loomis Sayles & Co. L P lifted its holdings in Centerspace by 3,131.6% in the third quarter. Loomis Sayles & Co. L P now owns 614 shares of the company’s stock valued at $43,000 after buying an additional 595 shares during the period. Van ECK Associates Corp boosted its stake in Centerspace by 15.2% in the third quarter. Van ECK Associates Corp now owns 2,626 shares of the company’s stock valued at $186,000 after acquiring an additional 347 shares during the last quarter. Versor Investments LP acquired a new stake in Centerspace during the 3rd quarter worth $204,000. Finally, Victory Capital Management Inc. bought a new stake in shares of Centerspace during the 2nd quarter valued at $209,000. Institutional investors own 79.00% of the company’s stock.

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.