Centerspace (NYSE:CSR) Research Coverage Started at Wells Fargo & Company

Wells Fargo & Company initiated coverage on shares of Centerspace (NYSE:CSR) in a research report released on Wednesday morning, Marketbeat Ratings reports. The firm issued an equal weight rating and a $68.00 target price on the stock.

A number of other research analysts have also weighed in on the stock. Wedbush initiated coverage on shares of Centerspace in a research report on Tuesday, December 17th. They set a “neutral” rating and a $72.00 price target on the stock. Janney Montgomery Scott raised shares of Centerspace from a “neutral” rating to a “buy” rating and set a $72.00 target price on the stock in a research report on Wednesday, January 15th. Finally, Royal Bank of Canada increased their price target on Centerspace from $72.00 to $73.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $73.63.

Centerspace Stock Down 0.9 %

CSR stock opened at $63.63 on Wednesday. The stock’s 50 day simple moving average is $62.86 and its 200 day simple moving average is $67.78. The company has a market cap of $1.06 billion, a P/E ratio of -50.10 and a beta of 0.91. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.05 and a current ratio of 0.04. Centerspace has a fifty-two week low of $54.90 and a fifty-two week high of $76.16.

Centerspace (NYSE:CSR) last posted its quarterly earnings results on Tuesday, February 18th. The company reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $1.36. Centerspace had a negative net margin of 4.34% and a negative return on equity of 1.34%. The business had revenue of $66.41 million during the quarter, compared to the consensus estimate of $65.96 million. On average, research analysts expect that Centerspace will post 4.94 earnings per share for the current fiscal year.

Centerspace Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 8th. Stockholders of record on Friday, March 28th will be issued a $0.77 dividend. This is a positive change from Centerspace’s previous quarterly dividend of $0.75. The ex-dividend date is Friday, March 28th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.84%. Centerspace’s dividend payout ratio is presently -242.52%.

Hedge Funds Weigh In On Centerspace

A number of hedge funds and other institutional investors have recently modified their holdings of CSR. Summit Investment Advisors Inc. grew its position in shares of Centerspace by 15.2% in the 4th quarter. Summit Investment Advisors Inc. now owns 1,732 shares of the company’s stock worth $115,000 after buying an additional 229 shares during the last quarter. California State Teachers Retirement System boosted its holdings in Centerspace by 1.9% in the fourth quarter. California State Teachers Retirement System now owns 14,401 shares of the company’s stock valued at $953,000 after acquiring an additional 268 shares in the last quarter. Yousif Capital Management LLC increased its position in Centerspace by 4.6% during the 4th quarter. Yousif Capital Management LLC now owns 6,226 shares of the company’s stock valued at $412,000 after purchasing an additional 276 shares during the period. Oregon Public Employees Retirement Fund raised its holdings in Centerspace by 8.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,861 shares of the company’s stock worth $255,000 after purchasing an additional 300 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its position in shares of Centerspace by 370.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 381 shares of the company’s stock worth $25,000 after purchasing an additional 300 shares during the period. 79.00% of the stock is currently owned by hedge funds and other institutional investors.

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.