Centerspace (NYSE:CSR) Given Average Recommendation of "Moderate Buy" by Analysts

Centerspace (NYSE:CSR - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the six research firms that are presently covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $72.29.

A number of brokerages recently weighed in on CSR. Raymond James raised their price objective on Centerspace from $75.00 to $82.00 and gave the company an "outperform" rating in a report on Thursday, August 29th. Royal Bank of Canada lifted their price target on shares of Centerspace from $72.00 to $73.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 31st. Piper Sandler lifted their price target on shares of Centerspace from $64.00 to $75.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 31st. Finally, BTIG Research lifted their price target on shares of Centerspace from $69.00 to $79.00 and gave the stock a "buy" rating in a research note on Monday, August 12th.

Centerspace Price Performance

NYSE CSR traded down $0.20 during trading hours on Tuesday, hitting $69.55. The company had a trading volume of 98,783 shares, compared to its average volume of 103,417. The firm has a 50 day simple moving average of $72.83 and a 200 day simple moving average of $68.47. Centerspace has a 52 week low of $46.74 and a 52 week high of $76.16. The firm has a market capitalization of $1.04 billion, a price-to-earnings ratio of -87.19, a PEG ratio of 2.18 and a beta of 0.89. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.04 and a current ratio of 0.04.

Centerspace (NYSE:CSR - Get Free Report) last issued its quarterly earnings data on Monday, July 29th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.20 by ($1.39). The business had revenue of $65.04 million during the quarter, compared to analysts' expectations of $65.90 million. Centerspace had a negative return on equity of 0.67% and a negative net margin of 2.16%. During the same quarter last year, the business posted $1.28 EPS. Equities research analysts expect that Centerspace will post 4.83 earnings per share for the current year.

Centerspace Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Monday, September 30th will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 4.31%. The ex-dividend date of this dividend is Monday, September 30th. Centerspace's dividend payout ratio is currently -375.00%.

Institutional Investors Weigh In On Centerspace

A number of hedge funds and other institutional investors have recently bought and sold shares of CSR. Quadrature Capital Ltd purchased a new stake in shares of Centerspace in the fourth quarter worth $607,000. Pensionfund DSM Netherlands raised its holdings in Centerspace by 19.6% in the first quarter. Pensionfund DSM Netherlands now owns 18,280 shares of the company's stock worth $1,045,000 after buying an additional 3,000 shares during the last quarter. Pensionfund Sabic lifted its stake in shares of Centerspace by 26.8% in the first quarter. Pensionfund Sabic now owns 8,519 shares of the company's stock worth $487,000 after buying an additional 1,800 shares in the last quarter. BTC Capital Management Inc. bought a new position in shares of Centerspace in the first quarter worth approximately $279,000. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of Centerspace in the first quarter worth approximately $173,000. Hedge funds and other institutional investors own 79.00% of the company's stock.

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.