Centerspace (NYSE:CSR) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Centerspace (NYSE:CSR) have received a consensus recommendation of “Hold” from the ten analysts that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, five have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $68.00.

CSR has been the subject of several recent research reports. Cantor Fitzgerald began coverage on Centerspace in a report on Wednesday, October 1st. They issued a “neutral” rating and a $62.00 price target for the company. Wells Fargo & Company cut their target price on Centerspace from $68.00 to $60.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 27th. Wall Street Zen cut Centerspace from a “hold” rating to a “sell” rating in a research note on Sunday, September 7th. UBS Group cut their target price on Centerspace from $67.00 to $60.00 and set a “neutral” rating for the company in a research note on Tuesday, July 15th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Centerspace in a research note on Wednesday, October 8th.

Centerspace Price Performance

NYSE:CSR opened at $60.23 on Monday. Centerspace has a one year low of $52.76 and a one year high of $75.92. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.05 and a current ratio of 0.05. The stock has a market cap of $1.01 billion, a PE ratio of -33.46 and a beta of 0.73. The stock has a 50 day moving average price of $58.16 and a 200 day moving average price of $59.48.

Centerspace (NYSE:CSR) last posted its quarterly earnings results on Monday, August 4th. The company reported $1.28 EPS for the quarter, beating the consensus estimate of $1.26 by $0.02. Centerspace had a negative return on equity of 2.81% and a negative net margin of 9.13%.The firm had revenue of $68.55 million during the quarter, compared to analysts’ expectations of $67.89 million. Centerspace has set its FY 2025 guidance at 4.880-5.000 EPS. Equities research analysts expect that Centerspace will post 4.94 EPS for the current fiscal year.

Centerspace Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Monday, September 29th were paid a $0.77 dividend. The ex-dividend date of this dividend was Monday, September 29th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 5.1%. Centerspace’s payout ratio is presently -171.11%.

Insider Activity

In other news, Director John A. Schissel acquired 500 shares of the company’s stock in a transaction dated Friday, August 8th. The stock was acquired at an average cost of $54.00 per share, with a total value of $27,000.00. Following the completion of the purchase, the director owned 14,398 shares of the company’s stock, valued at $777,492. This represents a 3.60% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Anne Olson acquired 750 shares of the company’s stock in a transaction dated Friday, August 8th. The stock was purchased at an average cost of $55.10 per share, with a total value of $41,325.00. Following the completion of the purchase, the chief executive officer directly owned 19,496 shares of the company’s stock, valued at approximately $1,074,229.60. This represents a 4.00% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 1,750 shares of company stock valued at $95,325. 0.44% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CSR. Hilltop National Bank purchased a new position in Centerspace in the second quarter valued at $29,000. Wolff Wiese Magana LLC boosted its holdings in Centerspace by 897.3% in the second quarter. Wolff Wiese Magana LLC now owns 748 shares of the company’s stock valued at $45,000 after purchasing an additional 673 shares during the period. New Age Alpha Advisors LLC purchased a new position in Centerspace in the first quarter valued at $86,000. PNC Financial Services Group Inc. boosted its holdings in Centerspace by 103.4% in the second quarter. PNC Financial Services Group Inc. now owns 2,176 shares of the company’s stock valued at $131,000 after purchasing an additional 1,106 shares during the period. Finally, Tower Research Capital LLC TRC boosted its holdings in Centerspace by 64.0% in the second quarter. Tower Research Capital LLC TRC now owns 2,252 shares of the company’s stock valued at $136,000 after purchasing an additional 879 shares during the period. 79.00% of the stock is currently owned by hedge funds and other institutional investors.

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.