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

Centerspace (NYSE:CSR) has received a consensus recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the company, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $68.75.

Several research analysts recently commented on the company. Wells Fargo & Company reduced their price target on Centerspace from $68.00 to $60.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 27th. UBS Group cut their price objective on Centerspace from $67.00 to $60.00 and set a “neutral” rating for the company in a report on Tuesday, July 15th. Finally, Wall Street Zen cut shares of Centerspace from a “hold” rating to a “sell” rating in a research note on Sunday, September 7th.

Centerspace Price Performance

Shares of CSR opened at $57.38 on Thursday. The stock has a 50 day simple moving average of $57.43 and a 200 day simple moving average of $60.31. Centerspace has a 52-week low of $52.76 and a 52-week high of $75.92. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.05 and a current ratio of 0.05. The firm has a market capitalization of $961.61 million, a PE ratio of -31.87 and a beta of 0.75.

Centerspace (NYSE:CSR) last released its quarterly earnings results on Monday, August 4th. The company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.02. Centerspace had a negative return on equity of 2.81% and a negative net margin of 9.13%.The firm had revenue of $68.55 million for the quarter, compared to the consensus estimate of $67.89 million. Centerspace has set its FY 2025 guidance at 4.880-5.000 EPS. Sell-side analysts predict that Centerspace will post 4.94 EPS for the current fiscal year.

Centerspace Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Monday, September 29th will be issued a dividend of $0.77 per share. The ex-dividend date of this dividend is Monday, September 29th. This represents a $3.08 annualized dividend and a yield of 5.4%. Centerspace’s dividend payout ratio (DPR) is currently -171.11%.

Insider Buying and Selling at Centerspace

In other news, CFO Bhairav Patel purchased 500 shares of Centerspace stock in a transaction that occurred on Friday, August 8th. The stock was acquired at an average cost of $54.00 per share, for a total transaction of $27,000.00. Following the purchase, the chief financial officer directly owned 3,733 shares of the company’s stock, valued at $201,582. This trade represents a 15.47% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Anne Olson bought 750 shares of the company’s stock in a transaction dated Friday, August 8th. The shares were purchased at an average cost of $55.10 per share, with a total value of $41,325.00. Following the acquisition, the chief executive officer directly owned 19,496 shares of the company’s stock, valued at approximately $1,074,229.60. This represents a 4.00% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 1,750 shares of company stock worth $95,325 over the last ninety days. Insiders own 0.44% of the company’s stock.

Institutional Trading of Centerspace

A number of institutional investors have recently bought and sold shares of the business. Illinois Municipal Retirement Fund grew its holdings in Centerspace by 2.6% during the 1st quarter. Illinois Municipal Retirement Fund now owns 8,726 shares of the company’s stock worth $565,000 after acquiring an additional 225 shares during the last quarter. State of Tennessee Department of Treasury lifted its holdings in shares of Centerspace by 3.7% during the second quarter. State of Tennessee Department of Treasury now owns 6,877 shares of the company’s stock worth $414,000 after purchasing an additional 247 shares during the period. California State Teachers Retirement System grew its stake in shares of Centerspace by 1.9% in the fourth quarter. California State Teachers Retirement System now owns 14,401 shares of the company’s stock worth $953,000 after purchasing an additional 268 shares during the last quarter. Capital Square LLC increased its holdings in Centerspace by 3.3% in the second quarter. Capital Square LLC now owns 8,367 shares of the company’s stock valued at $503,000 after purchasing an additional 271 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Centerspace by 2.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,790 shares of the company’s stock valued at $958,000 after purchasing an additional 287 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.