Centerspace (NYSE:CSR) Given Average Rating of “Hold” by Analysts

Shares of Centerspace (NYSE:CSR) have received an average recommendation of “Hold” from the seven analysts that are covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $74.86.

Several brokerages have recently commented on CSR. Janney Montgomery Scott raised Centerspace from a “neutral” rating to a “buy” rating and set a $72.00 price target on the stock in a research note on Wednesday, January 15th. Raymond James cut shares of Centerspace from an “outperform” rating to a “market perform” rating in a research report on Monday, October 21st. Wedbush assumed coverage on shares of Centerspace in a research report on Tuesday, December 17th. They set a “neutral” rating and a $72.00 price target for the company. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $76.00 price target on shares of Centerspace in a research note on Wednesday, October 30th.

Centerspace Price Performance

NYSE:CSR opened at $61.30 on Wednesday. Centerspace has a one year low of $52.26 and a one year high of $76.16. The stock has a market cap of $1.02 billion, a PE ratio of -38.08 and a beta of 0.90. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.05 and a current ratio of 0.05. The stock has a 50 day moving average price of $65.29 and a 200 day moving average price of $69.68.

Centerspace Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Monday, December 30th were paid a $0.75 dividend. The ex-dividend date was Monday, December 30th. This represents a $3.00 dividend on an annualized basis and a yield of 4.89%. Centerspace’s dividend payout ratio (DPR) is -186.33%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Barclays PLC boosted its stake in Centerspace by 1,553.4% during the 3rd quarter. Barclays PLC now owns 102,859 shares of the company’s stock valued at $7,249,000 after purchasing an additional 96,638 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Centerspace by 295.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 107,820 shares of the company’s stock valued at $7,598,000 after buying an additional 80,566 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Centerspace by 6.4% during the third quarter. Wellington Management Group LLP now owns 1,019,353 shares of the company’s stock worth $71,834,000 after buying an additional 61,394 shares during the period. JPMorgan Chase & Co. grew its holdings in Centerspace by 25.6% in 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. Finally, Millennium Management LLC increased its position in Centerspace by 377.3% in the 2nd quarter. Millennium Management LLC now owns 43,604 shares of the company’s stock valued at $2,949,000 after acquiring an additional 34,469 shares during the period. 79.00% of the stock is owned by institutional investors and hedge funds.

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.