BMO Capital Markets upgraded shares of Centerspace (NYSE:CSR - Free Report) from a market perform rating to an outperform rating in a research report released on Friday morning, MarketBeat.com reports. The brokerage currently has $77.00 price objective on the stock.
CSR has been the subject of a number of other reports. Wells Fargo & Company assumed coverage on shares of Centerspace in a report on Wednesday, March 19th. They issued an "equal weight" rating and a $68.00 target price for the company. Royal Bank of Canada boosted their price objective on shares of Centerspace from $72.00 to $73.00 and gave the company an "outperform" rating in a research note on Thursday, February 20th. Janney Montgomery Scott raised 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, Wedbush started coverage on Centerspace in a research report on Tuesday, December 17th. They set a "neutral" rating and a $72.00 price target for the company. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, Centerspace presently has a consensus rating of "Hold" and an average price target of $73.30.
View Our Latest Report on CSR
Centerspace Trading Up 3.9 %
CSR traded up $2.17 during trading on Friday, hitting $58.38. The company's stock had a trading volume of 26,989 shares, compared to its average volume of 110,945. Centerspace has a twelve month low of $54.02 and a twelve month high of $76.16. The stock has a market cap of $976.57 million, a PE ratio of -46.24 and a beta of 0.79. The firm's 50 day moving average price is $63.07 and its 200-day moving average price is $66.63. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.04 and a quick ratio of 0.05.
Centerspace (NYSE:CSR - Get Free Report) last released its earnings results on Tuesday, February 18th. The company reported $1.21 earnings per share for the quarter, topping the consensus estimate of ($0.15) by $1.36. The firm had revenue of $66.41 million for the quarter, compared to the consensus estimate of $65.96 million. Centerspace had a negative return on equity of 1.34% and a negative net margin of 4.34%. On average, analysts expect 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. Investors of record on Friday, March 28th were issued a dividend of $0.77 per share. This is an increase from Centerspace's previous quarterly dividend of $0.75. This represents a $3.08 annualized dividend and a dividend yield of 5.28%. The ex-dividend date of this dividend was Friday, March 28th. Centerspace's dividend payout ratio (DPR) is presently -242.52%.
Hedge Funds Weigh In On Centerspace
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. increased its position in shares of Centerspace by 9.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 275,511 shares of the company's stock worth $19,415,000 after acquiring an additional 23,839 shares during the last quarter. Cerity Partners LLC acquired a new stake in shares of Centerspace during the 3rd quarter valued at approximately $746,000. MetLife Investment Management LLC lifted its position in shares of Centerspace by 3.4% in the 3rd quarter. MetLife Investment Management LLC now owns 9,091 shares of the company's stock worth $641,000 after buying an additional 303 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Centerspace by 295.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 107,820 shares of the company's stock valued at $7,598,000 after buying an additional 80,566 shares during the period. Finally, Captrust Financial Advisors bought a new stake in shares of Centerspace during the 3rd quarter valued at about $234,000. Hedge funds and other institutional investors own 79.00% of the company's stock.
About Centerspace
(
Get Free Report)
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.
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