Centerspace (NYSE:CSR) Downgraded by Compass Point

Compass Point lowered shares of Centerspace (NYSE:CSR) from a buy rating to a neutral rating in a research report released on Friday morning, Marketbeat.com reports. Compass Point currently has $68.00 price objective on the stock, up from their previous price objective of $65.00.

Several other research firms have also recently commented on CSR. Piper Sandler reissued a neutral rating and set a $63.00 target price on shares of Centerspace in a research note on Tuesday, March 26th. Royal Bank of Canada raised their target price on shares of Centerspace from $66.00 to $68.00 and gave the company an outperform rating in a research note on Wednesday, May 1st. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Centerspace has a consensus rating of Hold and an average target price of $66.17.

Centerspace Stock Down 0.4 %

CSR stock opened at $68.71 on Friday. The company has a quick ratio of 0.03, a current ratio of 0.04 and a debt-to-equity ratio of 0.77. Centerspace has a fifty-two week low of $46.74 and a fifty-two week high of $69.97. The firm’s 50-day simple moving average is $59.26 and its 200 day simple moving average is $56.25. The stock has a market cap of $1.02 billion, a PE ratio of -85.89, a price-to-earnings-growth ratio of 2.07 and a beta of 0.87.

Centerspace (NYSE:CSR) last released its quarterly earnings data on Monday, April 29th. The company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of $1.12 by ($1.49). Centerspace had a negative return on equity of 0.73% and a negative net margin of 2.38%. The firm had revenue of $64.51 million during the quarter, compared to analyst estimates of $65.30 million. During the same period last year, the business earned $1.07 EPS. As a group, sell-side analysts predict that Centerspace will post 4.75 EPS for the current year.

Centerspace Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 8th. Investors of record on Thursday, March 28th were issued a dividend of $0.75 per share. This is a boost from Centerspace’s previous quarterly dividend of $0.73. This represents a $3.00 annualized dividend and a dividend yield of 4.37%. The ex-dividend date of this dividend was Wednesday, March 27th. Centerspace’s dividend payout ratio (DPR) is currently -375.00%.

Insider Buying and Selling

In related news, Director John A. Schissel purchased 500 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was acquired at an average cost of $56.40 per share, for a total transaction of $28,200.00. Following the completion of the acquisition, the director now owns 9,522 shares in the company, valued at approximately $537,040.80. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.92% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Centerspace

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Asset Management One Co. Ltd. raised its position in Centerspace by 1.3% during the fourth quarter. Asset Management One Co. Ltd. now owns 23,023 shares of the company’s stock valued at $1,366,000 after acquiring an additional 301 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Centerspace by 3.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 247,845 shares of the company’s stock valued at $14,935,000 after purchasing an additional 9,179 shares during the period. Dark Forest Capital Management LP bought a new position in shares of Centerspace in the third quarter valued at approximately $549,000. Jackson Creek Investment Advisors LLC bought a new position in shares of Centerspace in the fourth quarter valued at approximately $1,025,000. Finally, Panagora Asset Management Inc. bought a new position in shares of Centerspace in the third quarter valued at approximately $886,000. 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.