Centerspace (NYSE:CSR) Downgraded by Raymond James

Raymond James downgraded shares of Centerspace (NYSE:CSR) from an outperform rating to a market perform rating in a report published on Monday morning, Marketbeat.com reports.

CSR has been the topic of a number of other reports. Piper Sandler raised their target price on Centerspace from $64.00 to $75.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Royal Bank of Canada raised their target price on Centerspace from $72.00 to $73.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Finally, BTIG Research raised their target price on Centerspace from $69.00 to $79.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $75.40.

Centerspace Price Performance

NYSE CSR opened at $70.70 on Monday. The business’s fifty day moving average price is $72.83 and its 200-day moving average price is $69.57. The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of -88.28, a PEG ratio of 2.08 and a beta of 0.89. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.04 and a quick ratio of 0.04. Centerspace has a 1-year low of $46.74 and a 1-year high of $76.16.

Centerspace (NYSE:CSR) last announced its earnings results on Monday, July 29th. The company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of $1.20 by ($1.39). Centerspace had a negative return on equity of 0.67% and a negative net margin of 2.16%. The company had revenue of $65.04 million during the quarter, compared to the consensus estimate of $65.90 million. During the same period in the prior year, the business posted $1.28 earnings per share. On average, equities analysts predict that Centerspace will post 4.83 earnings per share for the current year.

Centerspace Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Monday, September 30th were issued a dividend of $0.75 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $3.00 dividend on an annualized basis and a yield of 4.24%. Centerspace’s dividend payout ratio is presently -375.00%.

Institutional Investors Weigh In On Centerspace

A number of institutional investors and hedge funds have recently bought and sold shares of CSR. Janus Henderson Group PLC raised its holdings in Centerspace by 1,438.2% during the first quarter. Janus Henderson Group PLC now owns 97,940 shares of the company’s stock valued at $5,597,000 after acquiring an additional 91,573 shares during the period. Millennium Management LLC grew its position in shares of Centerspace by 377.3% during the second quarter. Millennium Management LLC now owns 43,604 shares of the company’s stock valued at $2,949,000 after purchasing an additional 34,469 shares in the last quarter. Marshall Wace LLP purchased a new position in shares of Centerspace during the second quarter valued at about $1,046,000. Dimensional Fund Advisors LP grew its position in shares of Centerspace by 6.9% during the second quarter. Dimensional Fund Advisors LP now owns 223,770 shares of the company’s stock valued at $15,134,000 after purchasing an additional 14,440 shares in the last quarter. Finally, Cornercap Investment Counsel Inc. purchased a new position in shares of Centerspace during the second quarter valued at about $776,000. 79.00% of the stock is owned by institutional investors.

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.