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

Centerspace (NYSE:CSR) has been given an average rating of “Hold” by the five analysts that are presently covering the company, Marketbeat Ratings reports. Three research 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 brokers that have issued a report on the stock in the last year is $76.00.

Several research analysts recently commented on the company. Wedbush began coverage on Centerspace in a research note on Tuesday. They issued a “neutral” rating and a $72.00 price target on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $76.00 price objective on shares of Centerspace in a research report on Wednesday, October 30th. Finally, Raymond James cut shares of Centerspace from an “outperform” rating to a “market perform” rating in a research report on Monday, October 21st.

Centerspace Trading Down 0.1 %

CSR stock traded down $0.04 on Tuesday, hitting $69.31. 5,032 shares of the company were exchanged, compared to its average volume of 104,030. Centerspace has a twelve month low of $52.26 and a twelve month high of $76.16. The business’s fifty day moving average is $71.21 and its two-hundred day moving average is $70.99. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.05 and a quick ratio of 0.05. The stock has a market capitalization of $1.15 billion, a price-to-earnings ratio of -42.73, a price-to-earnings-growth ratio of 2.05 and a beta of 0.89.

Centerspace (NYSE:CSR) last announced its quarterly earnings results on Monday, October 28th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.17 by ($1.57). The company had revenue of $65.03 million during the quarter, compared to analyst estimates 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 quarter in the prior year, the company posted $1.20 earnings per share. As a group, research analysts forecast that Centerspace will post 4.86 earnings per share for the current year.

Centerspace Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Monday, December 30th will be given a $0.75 dividend. The ex-dividend date is Monday, December 30th. This represents a $3.00 annualized dividend and a yield of 4.33%. Centerspace’s dividend payout ratio (DPR) is -186.34%.

Institutional Investors Weigh In On Centerspace

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. increased its position in Centerspace by 35.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 579 shares of the company’s stock worth $41,000 after purchasing an additional 150 shares during the last quarter. Rothschild Investment LLC bought a new position in shares of Centerspace during the 2nd quarter valued at $42,000. Loomis Sayles & Co. L P lifted its stake in shares of Centerspace by 3,131.6% in the 3rd quarter. Loomis Sayles & Co. L P now owns 614 shares of the company’s stock valued at $43,000 after purchasing an additional 595 shares during the last quarter. Van ECK Associates Corp lifted its stake in shares of Centerspace by 15.2% in the 3rd quarter. Van ECK Associates Corp now owns 2,626 shares of the company’s stock valued at $186,000 after purchasing an additional 347 shares during the last quarter. Finally, Versor Investments LP bought a new stake in Centerspace in the third quarter worth $204,000. 79.00% of the stock is owned by institutional investors and hedge funds.

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.