Wells Fargo & Company started coverage on shares of Centerspace (NYSE:CSR - Free Report) in a research report released on Wednesday morning, MarketBeat.com reports. The brokerage issued an equal weight rating and a $68.00 target price on the stock.
A number of other research analysts also recently issued reports on CSR. Royal Bank of Canada boosted their target price on shares of Centerspace from $72.00 to $73.00 and gave the company an "outperform" rating in a research report on Thursday, February 20th. Wedbush began coverage on shares of Centerspace in a research report on Tuesday, December 17th. They issued a "neutral" rating and a $72.00 price objective for the company. Finally, Janney Montgomery Scott raised shares of Centerspace from a "neutral" rating to a "buy" rating and set a $72.00 target price for the company in a research note on Wednesday, January 15th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $73.63.
Check Out Our Latest Analysis on CSR
Centerspace Stock Performance
Shares of CSR traded down $0.55 during trading hours on Wednesday, reaching $63.63. 245,840 shares of the company traded hands, compared to its average volume of 104,643. The stock has a market capitalization of $1.06 billion, a P/E ratio of -50.10 and a beta of 0.91. The company has a quick ratio of 0.05, a current ratio of 0.04 and a debt-to-equity ratio of 0.74. Centerspace has a 12-month low of $54.90 and a 12-month high of $76.16. The business has a fifty day moving average price of $62.86 and a 200-day moving average price of $67.68.
Centerspace (NYSE:CSR - Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The company reported $1.21 earnings per share for the quarter, beating analysts' consensus estimates of ($0.15) by $1.36. The firm had revenue of $66.41 million for the quarter, compared to analyst estimates of $65.96 million. Centerspace had a negative net margin of 4.34% and a negative return on equity of 1.34%. Equities analysts anticipate that Centerspace will post 4.94 EPS for the current fiscal year.
Centerspace Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 8th. Stockholders of record on Friday, March 28th will be issued a $0.77 dividend. This is a positive change from Centerspace's previous quarterly dividend of $0.75. This represents a $3.08 annualized dividend and a dividend yield of 4.84%. The ex-dividend date is Friday, March 28th. Centerspace's dividend payout ratio is currently -242.52%.
Hedge Funds Weigh In On Centerspace
Several large investors have recently made changes to their positions in CSR. Smartleaf Asset Management LLC lifted its holdings in shares of Centerspace by 370.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 381 shares of the company's stock worth $25,000 after acquiring an additional 300 shares during the last quarter. Sterling Capital Management LLC lifted its holdings in Centerspace by 903.8% during the 4th quarter. Sterling Capital Management LLC now owns 522 shares of the company's stock worth $35,000 after buying an additional 470 shares in the last quarter. Loomis Sayles & Co. L P lifted its holdings in Centerspace by 3,131.6% during the 3rd quarter. Loomis Sayles & Co. L P now owns 614 shares of the company's stock worth $43,000 after buying an additional 595 shares in the last quarter. KBC Group NV lifted its holdings in Centerspace by 75.9% during the 4th quarter. KBC Group NV now owns 1,080 shares of the company's stock worth $71,000 after buying an additional 466 shares in the last quarter. Finally, Summit Investment Advisors Inc. lifted its holdings in Centerspace by 15.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 1,732 shares of the company's stock worth $115,000 after buying an additional 229 shares in the last quarter. 79.00% of the stock is currently owned by institutional investors and hedge funds.
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.
See Also
Before you consider Centerspace, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Centerspace wasn't on the list.
While Centerspace currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Almost everyone loves strong dividend-paying stocks, but high yields can signal danger. Discover 20 high-yield dividend stocks paying an unsustainably large percentage of their earnings. Enter your email to get this report and avoid a high-yield dividend trap.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
