Centerspace (NYSE:CSR) Receives Consensus Rating of “Hold” from Brokerages

Shares of Centerspace (NYSE:CSR) have been given a consensus recommendation of “Hold” by the seven analysts that are presently covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $74.43.

CSR has been the subject of a number of research reports. Wedbush started coverage on shares of Centerspace in a research note on Tuesday, December 17th. They set a “neutral” rating and a $72.00 target price for the company. Janney Montgomery Scott upgraded shares of Centerspace from a “neutral” rating to a “buy” rating and set a $72.00 price objective for the company in a research report on Wednesday, January 15th. Finally, Royal Bank of Canada upped their target price on Centerspace from $72.00 to $73.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th.

Centerspace Price Performance

Shares of CSR opened at $66.30 on Friday. The company has a market cap of $1.11 billion, a price-to-earnings ratio of -52.21 and a beta of 0.90. The company has a current ratio of 0.04, a quick ratio of 0.05 and a debt-to-equity ratio of 0.74. The company’s fifty day simple moving average is $62.94 and its 200 day simple moving average is $68.80. Centerspace has a 1-year low of $54.50 and a 1-year high of $76.16.

Centerspace (NYSE:CSR) last released its quarterly earnings data on Tuesday, February 18th. The company reported $1.21 earnings per share for the quarter, topping 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 company had revenue of $66.41 million for the quarter, compared to analyst estimates of $65.96 million. On average, research analysts forecast that Centerspace will post 4.94 earnings per share for the current fiscal year.

Centerspace Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 8th. Shareholders of record on Friday, March 28th will be given a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.65%. The ex-dividend date of this dividend is Friday, March 28th. This is a positive change from Centerspace’s previous quarterly dividend of $0.75. Centerspace’s dividend payout ratio is presently -242.52%.

Institutional Investors Weigh In On Centerspace

A number of hedge funds and other institutional investors have recently made changes to their positions in CSR. JPMorgan Chase & Co. boosted its position 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 acquiring an additional 39,380 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Centerspace by 3.1% in the 3rd quarter. Geode Capital Management LLC now owns 387,517 shares of the company’s stock valued at $27,314,000 after purchasing an additional 11,749 shares in the last quarter. Captrust Financial Advisors acquired a new stake in shares of Centerspace in the 3rd quarter valued at $234,000. Principal Financial Group Inc. increased its stake in shares of Centerspace by 3.6% in the 3rd quarter. Principal Financial Group Inc. now owns 81,338 shares of the company’s stock valued at $5,732,000 after purchasing an additional 2,852 shares during the last quarter. Finally, Intech Investment Management LLC bought a new stake in shares of Centerspace during the 3rd quarter worth $403,000. 79.00% of the stock is currently 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.