Centerspace (NYSE:CSR) Given Average Rating of “Moderate Buy” by Brokerages

Centerspace (NYSE:CSR) has received an average recommendation of “Moderate Buy” from the nine research firms that are currently covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $71.56.

Several equities analysts recently commented on CSR shares. Raymond James Financial raised shares of Centerspace from an “outperform” rating to a “strong-buy” rating and increased their price objective for the company from $66.00 to $69.00 in a research report on Thursday, May 15th. Royal Bank Of Canada increased their price objective on shares of Centerspace from $71.00 to $72.00 and gave the company an “outperform” rating in a research report on Monday, May 5th. Wells Fargo & Company started coverage on shares of Centerspace in a research report on Wednesday, March 19th. They issued an “equal weight” rating and a $68.00 price objective for the company. BMO Capital Markets raised shares of Centerspace from a “market perform” rating to an “outperform” rating and set a $77.00 price objective for the company in a research report on Friday, April 4th. Finally, UBS Group started coverage on shares of Centerspace in a research report on Monday, April 7th. They issued a “neutral” rating and a $67.00 price objective for the company.

Centerspace Stock Performance

CSR stock opened at $61.09 on Friday. The firm has a market cap of $1.02 billion, a price-to-earnings ratio of -54.54 and a beta of 0.72. The firm has a 50-day simple moving average of $62.10 and a two-hundred day simple moving average of $62.32. Centerspace has a one year low of $54.13 and a one year high of $76.16. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.05 and a current ratio of 0.05.

Centerspace (NYSE:CSR) last announced its quarterly earnings data on Thursday, May 1st. The company reported $1.21 EPS for the quarter, meeting the consensus estimate of $1.21. The firm had revenue of $67.09 million during the quarter, compared to analyst estimates of $66.70 million. Centerspace had a negative net margin of 4.23% and a negative return on equity of 1.30%. On average, equities analysts forecast that Centerspace will post 4.94 EPS for the current fiscal year.

Centerspace Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Friday, June 27th will be issued a $0.77 dividend. The ex-dividend date is Friday, June 27th. This represents a $3.08 annualized dividend and a yield of 5.04%. Centerspace’s dividend payout ratio (DPR) is presently -275.00%.

Hedge Funds Weigh In On Centerspace

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Voya Investment Management LLC increased its holdings in Centerspace by 33.7% in the 1st quarter. Voya Investment Management LLC now owns 13,876 shares of the company’s stock worth $898,000 after buying an additional 3,498 shares during the period. Strs Ohio acquired a new position in Centerspace in the 1st quarter worth approximately $201,000. Integrity Alliance LLC. acquired a new position in Centerspace in the 1st quarter worth approximately $251,000. Goldman Sachs Group Inc. increased its holdings in Centerspace by 17.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 138,676 shares of the company’s stock worth $8,979,000 after buying an additional 20,992 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Centerspace during the 1st quarter worth approximately $307,000. Institutional investors and hedge funds own 79.00% of the company’s stock.

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.