Centerspace (NYSE:CSR) Now Covered by Wedbush

Wedbush began coverage on shares of Centerspace (NYSE:CSR) in a research report released on Tuesday, Marketbeat reports. The brokerage issued a neutral rating and a $72.00 price target on the stock.

A number of other equities analysts have also recently weighed in on the stock. Raymond James cut shares of Centerspace from an “outperform” rating to a “market perform” rating in a research report on Monday, October 21st. Royal Bank of Canada restated an “outperform” rating and set a $76.00 price objective on shares of Centerspace in a research note on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $75.33.

Centerspace Price Performance

CSR stock opened at $68.31 on Tuesday. The firm has a market cap of $1.13 billion, a P/E ratio of -42.43, a price-to-earnings-growth ratio of 2.05 and a beta of 0.89. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.05 and a current ratio of 0.05. Centerspace has a 1 year low of $52.26 and a 1 year high of $76.16. The stock has a 50-day simple moving average of $71.17 and a 200-day simple moving average of $71.00.

Centerspace (NYSE:CSR) last issued its quarterly earnings data 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). Centerspace had a negative net margin of 5.57% and a negative return on equity of 1.72%. The firm had revenue of $65.03 million during the quarter, compared to analyst estimates of $66.35 million. During the same period last year, the business earned $1.20 EPS. On average, equities analysts predict that Centerspace will post 4.86 earnings per share for the current fiscal 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 $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 4.39%. The ex-dividend date is Monday, December 30th. Centerspace’s dividend payout ratio is currently -186.34%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Bank of New York Mellon Corp raised its position in shares of Centerspace by 0.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 139,188 shares of the company’s stock valued at $9,413,000 after acquiring an additional 605 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Centerspace by 2.6% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 17,401 shares of the company’s stock worth $1,177,000 after purchasing an additional 446 shares during the period. Panagora Asset Management Inc. lifted its position in shares of Centerspace by 2.6% in the 2nd quarter. Panagora Asset Management Inc. now owns 27,267 shares of the company’s stock worth $1,844,000 after buying an additional 694 shares during the last quarter. Rothschild Investment LLC acquired a new position in shares of Centerspace in the 2nd quarter valued at about $42,000. Finally, Capital Square LLC grew its position in shares of Centerspace by 18.2% during the 2nd quarter. Capital Square LLC now owns 7,339 shares of the company’s stock valued at $518,000 after buying an additional 1,128 shares during the last quarter. 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.