Centerspace (NYSE:CSR) Receives Average Recommendation of “Moderate Buy” from Brokerages

by · The Markets Daily

Shares of Centerspace (NYSE:CSR – Get Free Report) have earned an average recommendation of “Moderate Buy” from the six research firms that are presently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $72.29.

A number of equities research analysts have issued reports on the company. Raymond James increased their price target on Centerspace from $75.00 to $82.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. BTIG Research increased their target price on shares of Centerspace from $69.00 to $79.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Piper Sandler boosted their price objective on Centerspace from $64.00 to $75.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Finally, Royal Bank of Canada lifted 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 Wednesday, July 31st.

Get Our Latest Analysis on CSR

Hedge Funds Weigh In On Centerspace

A number of institutional investors and hedge funds have recently bought and sold shares of CSR. Rothschild Investment LLC acquired a new position in Centerspace during the 2nd quarter worth $42,000. Allspring Global Investments Holdings LLC acquired a new position in Centerspace during the 1st quarter valued at about $173,000. Victory Capital Management Inc. bought a new stake in Centerspace during the second quarter worth approximately $209,000. Daiwa Securities Group Inc. raised its stake in shares of Centerspace by 4.9% in the 1st quarter. Daiwa Securities Group Inc. now owns 4,764 shares of the company’s stock worth $272,000 after buying an additional 222 shares in the last quarter. Finally, BTC Capital Management Inc. bought a new stake in Centerspace in the first quarter worth about $279,000. Hedge funds and other institutional investors own 79.00% of the company’s stock.

Centerspace Price Performance

Shares of CSR opened at $74.19 on Friday. The company has a market cap of $1.11 billion, a P/E ratio of -92.74, a PEG ratio of 2.15 and a beta of 0.90. Centerspace has a fifty-two week low of $46.74 and a fifty-two week high of $76.16. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.79. The firm’s 50 day moving average price is $72.34 and its 200 day moving average price is $66.97.

Centerspace (NYSE:CSR – Get Free Report) last posted its quarterly earnings data on Monday, July 29th. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of $1.20 by ($1.39). The company had revenue of $65.04 million for 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 period in the prior year, the company posted $1.28 EPS. On average, research analysts forecast that Centerspace will post 4.83 earnings per share for the current fiscal year.

Centerspace Dividend Announcement

The firm also recently declared 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. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.00 dividend on an annualized basis and a yield of 4.04%. Centerspace’s dividend payout ratio (DPR) is -375.00%.

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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