Centerspace (NYSE:CSR) Receives Consensus Rating of “Moderate Buy” from Analysts

Centerspace (NYSE:CSR) has earned an average recommendation of “Moderate Buy” from the seven ratings firms that are presently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $65.57.

CSR has been the topic of a number of analyst reports. Piper Sandler reaffirmed a “neutral” rating and set a $63.00 target price on shares of Centerspace in a research report on Tuesday, March 26th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $63.00 target price on shares of Centerspace in a research report on Friday, March 22nd.

Centerspace Stock Up 1.4 %

Shares of NYSE CSR opened at $61.58 on Tuesday. Centerspace has a 1 year low of $46.74 and a 1 year high of $66.99. The firm has a market cap of $916.93 million, a price-to-earnings ratio of 26.43, a PEG ratio of 1.83 and a beta of 0.93. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.03 and a current ratio of 0.03. The stock’s 50-day simple moving average is $56.42 and its 200-day simple moving average is $55.50.

Centerspace Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 8th. Shareholders of record on Thursday, March 28th were paid a $0.75 dividend. This is an increase from Centerspace’s previous quarterly dividend of $0.73. This represents a $3.00 dividend on an annualized basis and a yield of 4.87%. The ex-dividend date of this dividend was Wednesday, March 27th. Centerspace’s payout ratio is presently 128.76%.

Insider Buying and Selling at Centerspace

In related news, Director John A. Schissel bought 500 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was bought at an average cost of $56.40 per share, for a total transaction of $28,200.00. Following the completion of the purchase, the director now directly owns 9,522 shares in the company, valued at approximately $537,040.80. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.96% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Centerspace

A number of hedge funds have recently made changes to their positions in the business. BTC Capital Management Inc. bought a new stake in shares of Centerspace during the first quarter valued at approximately $279,000. Pensionfund Sabic raised its holdings in shares of Centerspace by 26.8% during the first quarter. Pensionfund Sabic now owns 8,519 shares of the company’s stock valued at $487,000 after buying an additional 1,800 shares during the last quarter. Pensionfund DSM Netherlands raised its holdings in shares of Centerspace by 19.6% during the first quarter. Pensionfund DSM Netherlands now owns 18,280 shares of the company’s stock valued at $1,045,000 after buying an additional 3,000 shares during the last quarter. Quadrature Capital Ltd bought a new stake in shares of Centerspace during the fourth quarter valued at approximately $607,000. Finally, ICA Group Wealth Management LLC bought a new stake in shares of Centerspace during the fourth quarter valued at approximately $55,000. Institutional investors own 79.00% of the company’s stock.

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.