Centerspace (NYSE:CSR) Now Covered by UBS Group

UBS Group initiated coverage on shares of Centerspace (NYSE:CSR - Free Report) in a research note issued to investors on Monday morning, Marketbeat Ratings reports. The brokerage issued a neutral rating and a $67.00 target price on the stock.

CSR has been the topic of a number of other reports. Royal Bank of Canada boosted their price target on Centerspace from $72.00 to $73.00 and gave the stock an "outperform" rating in a research report on Thursday, February 20th. Wells Fargo & Company assumed coverage on Centerspace in a research note on Wednesday, March 19th. They issued an "equal weight" rating and a $68.00 target price on the stock. Janney Montgomery Scott upgraded shares of Centerspace from a "neutral" rating to a "buy" rating and set a $72.00 price target on the stock in a research note on Wednesday, January 15th. BMO Capital Markets upgraded 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 note on Friday, April 4th. Finally, Wedbush assumed coverage on shares of Centerspace in a report on Tuesday, December 17th. They set a "neutral" rating and a $72.00 price target on the stock. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Centerspace currently has an average rating of "Hold" and an average target price of $73.30.

Remove Ads

Centerspace Price Performance

Shares of Centerspace stock traded up $0.34 during trading on Monday, hitting $57.26. The stock had a trading volume of 89,414 shares, compared to its average volume of 110,619. Centerspace has a 12 month low of $54.13 and a 12 month high of $76.16. The company has a current ratio of 0.04, a quick ratio of 0.05 and a debt-to-equity ratio of 0.74. The firm has a market cap of $957.79 million, a price-to-earnings ratio of -45.09 and a beta of 0.79. The business's 50-day moving average is $62.81 and its 200 day moving average is $66.25.

Centerspace (NYSE:CSR - Get Free Report) last announced its 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 analyst estimates of $65.96 million. As a group, sell-side analysts anticipate that Centerspace will post 4.94 earnings per share for the current year.

Centerspace Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 8th. Shareholders of record on Friday, March 28th were given a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 5.38%. The ex-dividend date was Friday, March 28th. This is an increase from Centerspace's previous quarterly dividend of $0.75. Centerspace's payout ratio is -242.52%.

Hedge Funds Weigh In On Centerspace

Several hedge funds and other institutional investors have recently modified their holdings of CSR. GAMMA Investing LLC lifted its stake in shares of Centerspace by 7,022.7% in the 1st quarter. GAMMA Investing LLC now owns 18,519 shares of the company's stock worth $1,199,000 after purchasing an additional 18,259 shares during the period. California State Teachers Retirement System increased its holdings in 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 buying an additional 268 shares during the last quarter. Phocas Financial Corp. raised its position in Centerspace by 8.4% in the fourth quarter. Phocas Financial Corp. now owns 58,483 shares of the company's stock worth $3,869,000 after acquiring an additional 4,542 shares during the period. Employees Retirement System of Texas boosted its stake in shares of Centerspace by 59.3% during the 4th quarter. Employees Retirement System of Texas now owns 43,000 shares of the company's stock worth $2,844,000 after acquiring an additional 16,000 shares during the last quarter. Finally, Public Employees Retirement System of Ohio grew its position in shares of Centerspace by 7.3% during the 4th quarter. Public Employees Retirement System of Ohio now owns 23,691 shares of the company's stock valued at $1,567,000 after acquiring an additional 1,621 shares during the period. 79.00% of the stock is owned by institutional investors.

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.