Centerspace (NYSE:CSR) Receives Average Recommendation of “Hold” from Analysts

Centerspace (NYSE:CSR) has earned a consensus rating of “Hold” from the seven research firms that are covering the stock, MarketBeat reports. Four analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $74.43.

Several brokerages have weighed in on CSR. Wedbush started coverage on Centerspace in a report on Tuesday, December 17th. They set a “neutral” rating and a $72.00 price target on the stock. Janney Montgomery Scott upgraded Centerspace from a “neutral” rating to a “buy” rating and set a $72.00 price objective on the stock in a report on Wednesday, January 15th. Finally, Royal Bank of Canada increased their price objective on Centerspace from $72.00 to $73.00 and gave the company an “outperform” rating in a report on Thursday, February 20th.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. lifted its position in Centerspace by 35.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 579 shares of the company’s stock worth $41,000 after acquiring an additional 150 shares during the period. State of Alaska Department of Revenue lifted its position in Centerspace by 1.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 16,110 shares of the company’s stock worth $1,134,000 after acquiring an additional 208 shares during the period. abrdn plc acquired a new stake in Centerspace during the 3rd quarter worth approximately $210,000. Van ECK Associates Corp lifted its position in Centerspace by 15.2% during the 3rd quarter. Van ECK Associates Corp now owns 2,626 shares of the company’s stock worth $186,000 after acquiring an additional 347 shares during the period. Finally, Asset Management One Co. Ltd. lifted its position in Centerspace by 0.7% during the 3rd quarter. Asset Management One Co. Ltd. now owns 23,116 shares of the company’s stock worth $1,629,000 after acquiring an additional 170 shares during the period. Hedge funds and other institutional investors own 79.00% of the company’s stock.

Centerspace Price Performance

CSR opened at $65.53 on Friday. The stock’s 50-day moving average price is $62.83 and its 200 day moving average price is $68.48. The company has a current ratio of 0.04, a quick ratio of 0.05 and a debt-to-equity ratio of 0.74. Centerspace has a 12-month low of $54.50 and a 12-month high of $76.16. The firm has a market cap of $1.10 billion, a price-to-earnings ratio of -51.60 and a beta of 0.91.

Centerspace (NYSE:CSR) last issued its quarterly earnings results on Tuesday, February 18th. The company reported $1.21 earnings per share for the quarter, topping the consensus estimate of ($0.15) by $1.36. Centerspace had a negative return on equity of 1.34% and a negative net margin of 4.34%. The company had revenue of $66.41 million for the quarter, compared to the consensus estimate of $65.96 million. As a group, sell-side analysts expect that Centerspace will post 4.94 earnings per share for the current year.

Centerspace Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 8th. Investors of record on Friday, March 28th will be paid a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 4.70%. The ex-dividend date is Friday, March 28th. This is an increase from Centerspace’s previous quarterly dividend of $0.75. Centerspace’s dividend payout ratio (DPR) is currently -242.52%.

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.