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

Shares of Centerspace (NYSE:CSR) have received a consensus rating of “Hold” from the ten ratings firms that are currently covering the stock, Marketbeat reports. Six equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $73.30.

CSR has been the subject of several research analyst reports. Royal Bank of Canada increased their price objective on Centerspace from $72.00 to $73.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Wells Fargo & Company started coverage on shares of Centerspace in a report on Wednesday, March 19th. They issued an “equal weight” rating and a $68.00 price target for the company. UBS Group initiated coverage on shares of Centerspace in a report on Monday, April 7th. They set a “neutral” rating and a $67.00 price objective on the stock. Janney Montgomery Scott raised shares of Centerspace from a “neutral” rating to a “buy” rating and set a $72.00 target price for the company in a report on Wednesday, January 15th. Finally, BMO Capital Markets upgraded shares of Centerspace from a “market perform” rating to an “outperform” rating and set a $77.00 price target for the company in a research report on Friday, April 4th.

Centerspace Price Performance

Centerspace stock opened at $57.60 on Monday. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.04 and a quick ratio of 0.05. The business has a 50 day simple moving average of $62.39 and a 200-day simple moving average of $65.74. Centerspace has a 12 month low of $54.13 and a 12 month high of $76.16. The stock has a market capitalization of $963.53 million, a PE ratio of -45.36 and a beta of 0.79.

Centerspace (NYSE:CSR) last announced its quarterly earnings data on Tuesday, February 18th. The company reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $1.36. The company had revenue of $66.41 million during the quarter, compared to the consensus estimate of $65.96 million. Centerspace had a negative net margin of 4.34% and a negative return on equity of 1.34%. Equities analysts predict that Centerspace will post 4.94 earnings per share for the current year.

Centerspace Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 8th. Shareholders of record on Friday, March 28th were issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 5.35%. The ex-dividend date was Friday, March 28th. This is a boost from Centerspace’s previous quarterly dividend of $0.75. Centerspace’s dividend payout ratio is -242.52%.

Hedge Funds Weigh In On Centerspace

A number of institutional investors have recently made changes to their positions in the stock. Smartleaf Asset Management LLC increased its position in Centerspace by 370.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 381 shares of the company’s stock worth $25,000 after purchasing an additional 300 shares in the last quarter. Sterling Capital Management LLC boosted its stake in shares of Centerspace by 903.8% during the 4th quarter. Sterling Capital Management LLC now owns 522 shares of the company’s stock worth $35,000 after purchasing an additional 470 shares during the last quarter. KBC Group NV grew its holdings in shares of Centerspace by 75.9% during the fourth quarter. KBC Group NV now owns 1,080 shares of the company’s stock worth $71,000 after buying an additional 466 shares in the last quarter. Summit Investment Advisors Inc. raised its position in shares of Centerspace by 15.2% in the fourth quarter. Summit Investment Advisors Inc. now owns 1,732 shares of the company’s stock valued at $115,000 after buying an additional 229 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of Centerspace in the fourth quarter valued at approximately $196,000. 79.00% of the stock is 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.