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

Shares of Centerspace (NYSE:CSR - Get Free Report) have received an average recommendation of "Hold" from the six brokerages that are currently covering the company, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $75.33.

Several equities analysts have recently weighed in on the stock. Wedbush assumed coverage on shares of Centerspace in a research note on Tuesday. They set a "neutral" rating and a $72.00 price target for the company. Royal Bank of Canada reiterated an "outperform" rating and issued a $76.00 price target on shares of Centerspace in a research note on Wednesday, October 30th. Finally, Raymond James downgraded shares of Centerspace from an "outperform" rating to a "market perform" rating in a research note on Monday, October 21st.

Centerspace Trading Down 1.5 %

Shares of Centerspace stock traded down $1.04 on Tuesday, hitting $68.31. 110,571 shares of the company's stock traded hands, compared to its average volume of 104,469. Centerspace has a one year low of $52.26 and a one year high of $76.16. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.05 and a quick ratio of 0.05. The stock has a market capitalization of $1.13 billion, a PE ratio of -42.43, a price-to-earnings-growth ratio of 2.05 and a beta of 0.89. The firm's 50-day moving average price is $71.17 and its two-hundred day moving average price is $71.00.

Centerspace (NYSE:CSR - Get Free Report) last issued its earnings results on Monday, October 28th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate of $1.17 by ($1.57). Centerspace had a negative net margin of 5.57% and a negative return on equity of 1.72%. The firm had revenue of $65.03 million during the quarter, compared to the consensus estimate of $66.35 million. During the same period in the previous year, the company posted $1.20 EPS. On average, research analysts expect that Centerspace will post 4.86 EPS for the current fiscal year.

Centerspace Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Monday, December 30th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Monday, December 30th. This represents a $3.00 annualized dividend and a yield of 4.39%. Centerspace's dividend payout ratio (DPR) is presently -186.34%.

Institutional Investors Weigh In On Centerspace

Several institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp lifted its holdings in shares of Centerspace by 0.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 139,188 shares of the company's stock worth $9,413,000 after acquiring an additional 605 shares during the period. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Centerspace by 2.6% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 17,401 shares of the company's stock valued at $1,177,000 after purchasing an additional 446 shares in the last quarter. Panagora Asset Management Inc. increased its stake in shares of Centerspace by 2.6% in the 2nd quarter. Panagora Asset Management Inc. now owns 27,267 shares of the company's stock valued at $1,844,000 after purchasing an additional 694 shares during the last quarter. Rothschild Investment LLC acquired a new position in shares of Centerspace during the 2nd quarter worth $42,000. Finally, Capital Square LLC lifted its position in shares of Centerspace by 18.2% during the 2nd quarter. Capital Square LLC now owns 7,339 shares of the company's stock worth $518,000 after buying an additional 1,128 shares during the last quarter. 79.00% of the stock is currently owned by 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.