Centerspace (NYSE:CSR) Rating Increased to Overweight at Piper Sandler

Piper Sandler upgraded shares of Centerspace (NYSE:CSR) from a neutral rating to an overweight rating in a report issued on Tuesday, Marketbeat.com reports. The firm currently has $72.00 price objective on the stock, up from their previous price objective of $69.00.

Several other research firms have also recently weighed in on CSR. Wells Fargo & Company lowered their price objective on Centerspace from $74.00 to $69.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 5th. Royal Bank Of Canada increased their price objective on Centerspace from $68.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, February 19th. Cantor Fitzgerald reiterated a “neutral” rating and set a $65.00 price objective on shares of Centerspace in a research report on Monday, January 5th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Centerspace in a research report on Monday, December 29th. Finally, Wall Street Zen cut Centerspace from a “hold” rating to a “strong sell” rating in a research report on Saturday, February 21st. Two analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Centerspace currently has a consensus rating of “Hold” and a consensus price target of $68.83.

Centerspace Stock Up 1.3%

Shares of CSR opened at $60.04 on Tuesday. Centerspace has a 52 week low of $52.76 and a 52 week high of $69.15. The firm has a market cap of $1.01 billion, a P/E ratio of 60.04 and a beta of 0.81. The firm’s 50-day simple moving average is $61.75 and its 200 day simple moving average is $62.66. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.04 and a current ratio of 0.04.

Centerspace (NYSE:CSR) last posted its quarterly earnings data on Tuesday, February 17th. The company reported ($1.10) earnings per share for the quarter, missing the consensus estimate of $1.21 by ($2.31). The firm had revenue of $66.62 million for the quarter, compared to the consensus estimate of $69.77 million. Centerspace had a return on equity of 2.00% and a net margin of 6.25%.Centerspace has set its FY 2026 guidance at 4.810-5.050 EPS. On average, analysts forecast that Centerspace will post 4.94 earnings per share for the current year.

Centerspace Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 14th. Stockholders of record on Monday, March 30th will be issued a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 5.1%. The ex-dividend date of this dividend is Monday, March 30th. Centerspace’s dividend payout ratio is 308.00%.

Institutional Trading of Centerspace

Several large investors have recently modified their holdings of the stock. Doliver Advisors LP grew its holdings in shares of Centerspace by 3.0% during the 4th quarter. Doliver Advisors LP now owns 5,930 shares of the company’s stock worth $396,000 after purchasing an additional 170 shares in the last quarter. Amalgamated Bank grew its holdings in shares of Centerspace by 4.1% during the 3rd quarter. Amalgamated Bank now owns 4,927 shares of the company’s stock worth $290,000 after purchasing an additional 194 shares in the last quarter. Captrust Financial Advisors grew its holdings in shares of Centerspace by 4.9% during the 4th quarter. Captrust Financial Advisors now owns 4,348 shares of the company’s stock worth $290,000 after purchasing an additional 202 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in Centerspace by 1.2% in the fourth quarter. State of Alaska Department of Revenue now owns 17,657 shares of the company’s stock valued at $1,176,000 after buying an additional 212 shares in the last quarter. Finally, Engineers Gate Manager LP boosted its stake in Centerspace by 6.4% in the fourth quarter. Engineers Gate Manager LP now owns 4,091 shares of the company’s stock valued at $273,000 after buying an additional 246 shares in the last quarter. 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. Centerspace was named a Top Workplace for the fourth consecutive year in 2023 by the Minneapolis Star Tribune.