Centerspace (NYSE:CSR) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Centerspace (NYSE:CSR) from a sell rating to a hold rating in a research report released on Saturday.

CSR has been the subject of a number of other reports. Wells Fargo & Company decreased their target price on Centerspace from $70.00 to $60.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 22nd. UBS Group raised their price target on Centerspace from $66.00 to $70.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. BTIG Research lowered Centerspace from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 16th. Piper Sandler cut their price objective on Centerspace from $64.00 to $60.00 and set a “neutral” rating on the stock in a report on Tuesday, July 21st. Finally, Weiss Ratings upgraded Centerspace from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 4th. One equities research analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $63.80.

Centerspace Trading Down 2.5%

CSR opened at $55.26 on Friday. The firm’s fifty day moving average is $56.48 and its two-hundred day moving average is $61.17. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.03 and a current ratio of 0.03. The firm has a market cap of $927.82 million, a PE ratio of 43.86 and a beta of 0.88. Centerspace has a twelve month low of $53.00 and a twelve month high of $69.61.

Centerspace (NYSE:CSR) last announced its quarterly earnings results on Monday, August 3rd. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.06. Centerspace had a net margin of 7.97% and a return on equity of 2.58%. The company had revenue of $65.78 million during the quarter, compared to analyst estimates of $66.29 million. Centerspace has set its FY 2026 guidance at 4.580-4.680 EPS. Equities research analysts anticipate that Centerspace will post 4.63 EPS for the current year.

Centerspace Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 14th. Investors of record on Monday, June 29th were given a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 5.6%. The ex-dividend date of this dividend was Monday, June 29th. Centerspace’s payout ratio is currently 244.44%.

Insider Transactions at Centerspace

In other news, Director Rodney Jones-Tyson purchased 1,700 shares of the business’s stock in a transaction dated Monday, June 22nd. The shares were bought at an average cost of $55.26 per share, for a total transaction of $93,942.00. Following the completion of the acquisition, the director directly owned 7,877 shares in the company, valued at approximately $435,283.02. This trade represents a 27.52% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John A. Schissel acquired 500 shares of Centerspace stock in a transaction dated Thursday, June 18th. The shares were purchased at an average cost of $54.90 per share, with a total value of $27,450.00. Following the completion of the transaction, the director directly owned 17,195 shares of the company’s stock, valued at $944,005.50. This trade represents a 2.99% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.49% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Centerspace

Institutional investors have recently bought and sold shares of the company. Sound Income Strategies LLC grew its stake in shares of Centerspace by 67.4% during the 1st quarter. Sound Income Strategies LLC now owns 626 shares of the company’s stock worth $36,000 after acquiring an additional 252 shares in the last quarter. Covestor Ltd lifted its position in shares of Centerspace by 57,100.0% in the fourth quarter. Covestor Ltd now owns 572 shares of the company’s stock worth $38,000 after purchasing an additional 571 shares in the last quarter. Avalon Trust Co lifted its position in shares of Centerspace by 36.3% in the first quarter. Avalon Trust Co now owns 709 shares of the company’s stock worth $41,000 after purchasing an additional 189 shares in the last quarter. Danske Bank A S acquired a new position in Centerspace during the fourth quarter worth $47,000. Finally, Kestra Advisory Services LLC acquired a new position in Centerspace during the fourth quarter worth $58,000. Institutional investors own 79.00% of the company’s stock.

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.