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

Centerspace (NYSE:CSR) has been given an average recommendation of “Hold” by the six brokerages that are currently covering the stock, Marketbeat.com reports. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $75.33.

Several brokerages recently commented on CSR. Wedbush assumed coverage on Centerspace in a research note on Tuesday, December 17th. They set a “neutral” rating and a $72.00 price objective on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $76.00 price target on shares of Centerspace in a research report on Wednesday, October 30th. Finally, Raymond James lowered Centerspace from an “outperform” rating to a “market perform” rating in a research report on Monday, October 21st.

Institutional Trading of Centerspace

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. raised its holdings in Centerspace by 35.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 579 shares of the company’s stock worth $41,000 after acquiring an additional 150 shares in the last quarter. Asset Management One Co. Ltd. raised its stake in shares of Centerspace by 0.7% during the 3rd quarter. Asset Management One Co. Ltd. now owns 23,116 shares of the company’s stock worth $1,629,000 after purchasing an additional 170 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Centerspace by 3.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,736 shares of the company’s stock valued at $388,000 after buying an additional 171 shares during the last quarter. State of Alaska Department of Revenue grew its stake in shares of Centerspace by 1.3% in the third quarter. State of Alaska Department of Revenue now owns 16,110 shares of the company’s stock valued at $1,134,000 after buying an additional 208 shares in the last quarter. Finally, MetLife Investment Management LLC increased its holdings in Centerspace by 3.4% during the third quarter. MetLife Investment Management LLC now owns 9,091 shares of the company’s stock worth $641,000 after buying an additional 303 shares during the last quarter. 79.00% of the stock is currently owned by institutional investors and hedge funds.

Centerspace Stock Performance

Shares of CSR stock opened at $60.22 on Friday. The stock has a market cap of $997.97 million, a PE ratio of -37.40, a price-to-earnings-growth ratio of 2.04 and a beta of 0.91. The stock has a 50-day moving average of $69.16 and a 200-day moving average of $70.55. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.05 and a quick ratio of 0.05. Centerspace has a one year low of $52.26 and a one year high of $76.16.

Centerspace (NYSE:CSR) last issued its earnings results on Monday, October 28th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate of $1.17 by ($1.57). The firm had revenue of $65.03 million during the quarter, compared to the consensus estimate of $66.35 million. Centerspace had a negative net margin of 5.57% and a negative return on equity of 1.72%. During the same period in the previous year, the company posted $1.20 EPS. As a group, sell-side analysts expect that Centerspace will post 4.86 earnings per share for the current year.

Centerspace Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Monday, December 30th will be issued a dividend of $0.75 per share. The ex-dividend date of this dividend is Monday, December 30th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 4.98%. Centerspace’s payout ratio is presently -186.34%.

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.