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

Centerspace (NYSE:CSR) has been given an average recommendation of “Hold” by the eight research firms that are covering the firm, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $73.63.

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

Centerspace Stock Performance

Shares of CSR opened at $64.27 on Thursday. The firm has a market cap of $1.08 billion, a price-to-earnings ratio of -50.61 and a beta of 0.91. The company’s fifty day moving average is $63.06 and its 200-day moving average is $67.51. The company has a quick ratio of 0.05, a current ratio of 0.04 and a debt-to-equity ratio of 0.74. Centerspace has a 12 month low of $54.90 and a 12 month high of $76.16.

Centerspace (NYSE:CSR) last posted its earnings results on Tuesday, February 18th. The company reported $1.21 EPS 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 firm had revenue of $66.41 million for the quarter, compared to the consensus estimate of $65.96 million. Equities analysts expect that Centerspace will post 4.94 EPS for the current fiscal year.

Centerspace Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 8th. Shareholders of record on Friday, March 28th will be given a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 4.79%. This is a positive change from Centerspace’s previous quarterly dividend of $0.75. The ex-dividend date is Friday, March 28th. Centerspace’s dividend payout ratio (DPR) is currently -242.52%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. California State Teachers Retirement System grew its position in Centerspace by 1.9% during the fourth quarter. California State Teachers Retirement System now owns 14,401 shares of the company’s stock worth $953,000 after buying an additional 268 shares in the last quarter. Phocas Financial Corp. lifted its position in shares of Centerspace by 8.4% in the 4th quarter. Phocas Financial Corp. now owns 58,483 shares of the company’s stock worth $3,869,000 after acquiring an additional 4,542 shares during the period. Employees Retirement System of Texas grew its holdings in shares of Centerspace by 59.3% during the 4th quarter. Employees Retirement System of Texas now owns 43,000 shares of the company’s stock worth $2,844,000 after purchasing an additional 16,000 shares in the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of Centerspace by 7.3% during the 4th quarter. Public Employees Retirement System of Ohio now owns 23,691 shares of the company’s stock worth $1,567,000 after purchasing an additional 1,621 shares in the last quarter. Finally, Westwood Holdings Group Inc. increased its position in shares of Centerspace by 13.4% during the fourth quarter. Westwood Holdings Group Inc. now owns 113,104 shares of the company’s stock valued at $7,482,000 after purchasing an additional 13,386 shares during the period. 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.