Centerspace (NYSE:CSR) Given Consensus Rating of “Moderate Buy” by Brokerages

Centerspace (NYSE:CSR) has been assigned a consensus recommendation of “Moderate Buy” from the six ratings firms that are covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $71.29.

CSR has been the subject of several recent analyst reports. Compass Point cut shares of Centerspace from a “buy” rating to a “neutral” rating and raised their target price for the stock from $65.00 to $68.00 in a report on Friday, May 3rd. Piper Sandler lifted their price objective on shares of Centerspace from $64.00 to $75.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Royal Bank of Canada increased their target price on Centerspace from $72.00 to $73.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. BTIG Research raised their target price on Centerspace from $69.00 to $79.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Finally, Raymond James raised Centerspace from a “market perform” rating to an “outperform” rating and set a $75.00 price target on the stock in a research report on Friday, May 24th.

Centerspace Stock Up 1.5 %

Shares of CSR stock opened at $74.38 on Monday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.04 and a current ratio of 0.04. The stock has a market cap of $1.11 billion, a PE ratio of -92.73, a price-to-earnings-growth ratio of 2.09 and a beta of 0.88. The business’s fifty day moving average is $69.89 and its 200-day moving average is $64.35. Centerspace has a 1 year low of $46.74 and a 1 year high of $75.19.

Centerspace (NYSE:CSR) last posted its quarterly earnings data on Monday, July 29th. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of $1.20 by ($1.39). The business had revenue of $65.04 million for the quarter, compared to the consensus estimate of $65.90 million. Centerspace had a negative net margin of 2.16% and a negative return on equity of 0.67%. During the same quarter last year, the business posted $1.28 EPS. Equities analysts expect that Centerspace will post 4.82 earnings per share for the current fiscal year.

Centerspace Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 10th. Shareholders of record on Friday, June 28th were paid a $0.75 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $3.00 dividend on an annualized basis and a yield of 4.03%. Centerspace’s dividend payout ratio (DPR) is currently -375.00%.

Institutional Investors Weigh In On Centerspace

Hedge funds and other institutional investors have recently made changes to their positions in the company. Rothschild Investment LLC acquired a new position in Centerspace in the second quarter worth approximately $42,000. ICA Group Wealth Management LLC acquired a new position in shares of Centerspace during the 4th quarter worth $55,000. Van ECK Associates Corp raised its holdings in shares of Centerspace by 19.7% during the 4th quarter. Van ECK Associates Corp now owns 2,118 shares of the company’s stock valued at $123,000 after purchasing an additional 348 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Centerspace during the 1st quarter valued at $173,000. Finally, Victory Capital Management Inc. acquired a new stake in shares of Centerspace in the 2nd quarter valued at $209,000. 79.00% of the stock is owned by hedge funds and other institutional investors.

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.