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

Shares of Centerspace (NYSE:CSR) have been given a consensus rating of “Moderate Buy” by the ten brokerages that are covering the stock, Marketbeat reports. Six investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $68.1111.

CSR has been the subject of several recent research reports. Cantor Fitzgerald started coverage on Centerspace in a research report on Wednesday, October 1st. They issued a “neutral” rating and a $62.00 price target for the company. Wells Fargo & Company reduced their target price on shares of Centerspace from $68.00 to $60.00 and set an “equal weight” rating for the company in a report on Wednesday, August 27th. Weiss Ratings raised shares of Centerspace from a “sell (d+)” rating to a “hold (c)” rating in a research report on Friday. Piper Sandler cut their price objective on shares of Centerspace from $68.00 to $66.00 and set a “neutral” rating on the stock in a research report on Monday. Finally, Wall Street Zen upgraded shares of Centerspace from a “sell” rating to a “hold” rating in a research note on Saturday.

Centerspace Price Performance

NYSE CSR opened at $65.99 on Friday. The company has a market cap of $1.10 billion, a PE ratio of -36.66 and a beta of 0.75. The firm’s 50 day moving average price is $59.24 and its 200-day moving average price is $59.66. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.05 and a current ratio of 0.05. Centerspace has a 52-week low of $52.76 and a 52-week high of $75.92.

Centerspace (NYSE:CSR) last issued its quarterly earnings data on Monday, November 3rd. The company reported $1.19 EPS for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.03). The business had revenue of $71.40 million during the quarter, compared to the consensus estimate of $69.07 million. Centerspace had a negative return on equity of 2.81% and a negative net margin of 9.13%. Centerspace has set its FY 2025 guidance at 4.880-4.960 EPS. Sell-side analysts forecast that Centerspace will post 4.94 EPS for the current fiscal year.

Centerspace Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Monday, September 29th were given a dividend of $0.77 per share. The ex-dividend date of this dividend was Monday, September 29th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.7%. Centerspace’s dividend payout ratio is presently 172.07%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Nuveen LLC purchased a new stake in Centerspace in the first quarter valued at about $13,147,000. Millennium Management LLC increased its holdings in shares of Centerspace by 307.3% during the first quarter. Millennium Management LLC now owns 184,051 shares of the company’s stock valued at $11,917,000 after acquiring an additional 138,861 shares in the last quarter. Systematic Financial Management LP purchased a new position in shares of Centerspace in the 2nd quarter valued at approximately $7,662,000. Allianz Asset Management GmbH acquired a new stake in Centerspace in the 1st quarter worth approximately $6,388,000. Finally, Strs Ohio grew its position in Centerspace by 3,025.8% during the 2nd quarter. Strs Ohio now owns 96,900 shares of the company’s stock worth $5,832,000 after purchasing an additional 93,800 shares during the last quarter. 79.00% of the stock is currently owned by hedge funds and other 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.