Centerspace (NYSE:CSR) Now Covered by Analysts at UBS Group

UBS Group started coverage on shares of Centerspace (NYSE:CSR) in a report issued on Monday morning, Marketbeat.com reports. The firm issued a neutral rating and a $67.00 target price on the stock.

Other equities research analysts have also issued reports about the stock. Janney Montgomery Scott raised shares of Centerspace from a “neutral” rating to a “buy” rating and set a $72.00 price target for the company in a research note on Wednesday, January 15th. Wells Fargo & Company initiated coverage on shares of Centerspace in a report on Wednesday, March 19th. They set an “equal weight” rating and a $68.00 price objective for the company. BMO Capital Markets raised Centerspace from a “market perform” rating to an “outperform” rating and set a $77.00 target price on the stock in a research note on Friday. Wedbush initiated coverage on Centerspace in a research note on Tuesday, December 17th. They set a “neutral” rating and a $72.00 price target for the company. 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 research report on Thursday, February 20th. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $73.30.

Centerspace Price Performance

NYSE:CSR opened at $57.47 on Monday. Centerspace has a 52-week low of $56.06 and a 52-week high of $76.16. The stock has a fifty day moving average of $63.27 and a 200 day moving average of $66.83. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.05 and a current ratio of 0.04. The firm has a market capitalization of $961.30 million, a price-to-earnings ratio of -45.25 and a beta of 0.79.

Centerspace (NYSE:CSR) last released its quarterly earnings results on Tuesday, February 18th. The company reported $1.21 earnings per share for the quarter, beating 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 firm had revenue of $66.41 million for the quarter, compared to analysts’ expectations of $65.96 million. On average, research analysts expect that Centerspace will post 4.94 EPS for the current fiscal year.

Centerspace Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 8th. Stockholders of record on Friday, March 28th will be paid a dividend of $0.77 per share. This is a boost from Centerspace’s previous quarterly dividend of $0.75. This represents a $3.08 dividend on an annualized basis and a dividend yield of 5.36%. The ex-dividend date is Friday, March 28th. Centerspace’s dividend payout ratio (DPR) is -242.52%.

Institutional Investors Weigh In On Centerspace

Several institutional investors have recently bought and sold shares of the stock. Summit Investment Advisors Inc. increased its stake in 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 purchasing an additional 229 shares during the period. California State Teachers Retirement System boosted its stake in shares of Centerspace by 1.9% during the fourth quarter. California State Teachers Retirement System now owns 14,401 shares of the company’s stock valued at $953,000 after purchasing an additional 268 shares during the period. Yousif Capital Management LLC grew its holdings in shares of Centerspace by 4.6% in the fourth quarter. Yousif Capital Management LLC now owns 6,226 shares of the company’s stock worth $412,000 after purchasing an additional 276 shares during the last quarter. Oregon Public Employees Retirement Fund increased its stake in shares of Centerspace by 8.4% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,861 shares of the company’s stock worth $255,000 after buying an additional 300 shares during the period. Finally, Smartleaf Asset Management LLC increased its stake in shares of Centerspace by 370.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 381 shares of the company’s stock worth $25,000 after buying 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.