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

Centerspace (NYSE:CSR) has received a consensus recommendation of “Moderate Buy” from the six analysts that are covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $72.29.

Several analysts recently issued reports on the stock. BTIG Research lifted their price target on shares of Centerspace from $69.00 to $79.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Raymond James lifted their price objective on shares of Centerspace from $75.00 to $82.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Piper Sandler upped their target price on shares of Centerspace from $64.00 to $75.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Finally, Royal Bank of Canada raised their price target on shares of Centerspace from $72.00 to $73.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st.

Hedge Funds Weigh In On Centerspace

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CSR. Westwood Holdings Group Inc. purchased a new position in shares of Centerspace in the fourth quarter valued at $5,238,000. Cbre Investment Management Listed Real Assets LLC purchased a new position in Centerspace during the 4th quarter valued at about $1,708,000. UniSuper Management Pty Ltd increased its position in shares of Centerspace by 199.4% during the first quarter. UniSuper Management Pty Ltd now owns 12,785 shares of the company’s stock valued at $731,000 after buying an additional 8,515 shares during the period. Boston Partners bought a new stake in shares of Centerspace during the first quarter valued at about $545,000. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Centerspace by 5.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,191 shares of the company’s stock worth $697,000 after buying an additional 652 shares in the last quarter. Institutional investors own 79.00% of the company’s stock.

Centerspace Stock Performance

Shares of Centerspace stock opened at $73.93 on Friday. The business has a 50-day moving average price of $72.23 and a two-hundred day moving average price of $66.91. Centerspace has a 1-year low of $46.74 and a 1-year high of $76.16. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.79. The company has a market cap of $1.10 billion, a P/E ratio of -92.41, a PEG ratio of 2.15 and a beta of 0.90.

Centerspace (NYSE:CSR) last announced its quarterly earnings data on Monday, July 29th. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of $1.20 by ($1.39). The company had revenue of $65.04 million for the quarter, compared to analyst estimates of $65.90 million. Centerspace had a negative return on equity of 0.67% and a negative net margin of 2.16%. During the same period last year, the business earned $1.28 EPS. As a group, analysts anticipate that Centerspace will post 4.83 EPS for the current year.

Centerspace Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Monday, September 30th will be given a dividend of $0.75 per share. The ex-dividend date is Monday, September 30th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 4.06%. Centerspace’s dividend payout ratio is presently -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.