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

Shares of Centerspace (NYSE:CSR) have been given a consensus recommendation of “Hold” by the eight brokerages that are covering the company, Marketbeat.com reports. Six analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $69.8571.

CSR has been the topic of several recent analyst reports. Weiss Ratings restated a “hold (c+)” rating on shares of Centerspace in a research note on Monday, December 29th. Piper Sandler reduced their price target on Centerspace from $68.00 to $66.00 and set a “neutral” rating for the company in a report on Monday, November 10th. UBS Group boosted their price target on Centerspace from $63.00 to $66.00 and gave the stock a “neutral” rating in a research report on Thursday, January 8th. Wall Street Zen raised Centerspace from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, Wells Fargo & Company lifted their target price on Centerspace from $60.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Monday, November 17th.

Centerspace Trading Up 1.2%

Shares of Centerspace stock opened at $63.50 on Friday. The stock has a market cap of $1.06 billion, a P/E ratio of 35.47 and a beta of 0.78. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 0.96. Centerspace has a 12-month low of $52.76 and a 12-month high of $69.15. The business’s 50 day moving average is $65.03 and its 200-day moving average is $61.60.

Centerspace Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 12th. Shareholders of record on Tuesday, December 30th were given a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date of this dividend was Tuesday, December 30th. Centerspace’s payout ratio is 172.07%.

Hedge Funds Weigh In On Centerspace

Large investors have recently modified their holdings of the stock. Covestor Ltd grew its stake in Centerspace by 57,100.0% in the 4th quarter. Covestor Ltd now owns 572 shares of the company’s stock valued at $38,000 after buying an additional 571 shares during the last quarter. Hantz Financial Services Inc. grew its position in shares of Centerspace by 998.3% in the third quarter. Hantz Financial Services Inc. now owns 659 shares of the company’s stock valued at $39,000 after purchasing an additional 599 shares during the last quarter. Danske Bank A S acquired a new position in shares of Centerspace in the fourth quarter valued at approximately $47,000. Kestra Advisory Services LLC bought a new position in shares of Centerspace during the fourth quarter worth approximately $58,000. Finally, GAMMA Investing LLC lifted its holdings in Centerspace by 107.0% during the 4th quarter. GAMMA Investing LLC now owns 942 shares of the company’s stock worth $63,000 after purchasing an additional 487 shares during the last quarter. 79.00% of the stock is owned by 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. Centerspace was named a Top Workplace for the fourth consecutive year in 2023 by the Minneapolis Star Tribune.