Centerspace (NYSE:CSR) Receives Average Rating of “Hold” from Analysts

Shares of Centerspace (NYSE:CSR) have earned a consensus recommendation of “Hold” from the eight brokerages that are presently covering the company, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $68.80.

Several equities research analysts have recently issued reports on the company. Wall Street Zen upgraded shares of Centerspace from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 17th. Wells Fargo & Company increased their target price on shares of Centerspace from $69.00 to $70.00 and gave the company an “equal weight” rating in a research note on Monday, June 1st. BTIG Research cut shares of Centerspace from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 16th. Piper Sandler upgraded shares of Centerspace from a “neutral” rating to an “overweight” rating and increased their target price for the company from $69.00 to $72.00 in a research note on Tuesday, April 7th. Finally, UBS Group increased their target price on shares of Centerspace from $66.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th.

Centerspace Trading Up 0.9%

NYSE CSR opened at $56.92 on Friday. The company has a market capitalization of $956.29 million, a PE ratio of 126.49 and a beta of 0.88. Centerspace has a 1-year low of $52.76 and a 1-year high of $69.61. The firm’s fifty day simple moving average is $63.58 and its 200-day simple moving average is $63.37. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.88.

Centerspace (NYSE:CSR) last issued its quarterly earnings data on Monday, May 4th. The company reported ($0.77) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.48). Centerspace had a return on equity of 0.94% and a net margin of 2.93%.The business had revenue of $65.07 million during the quarter, compared to the consensus estimate of $66.54 million. Centerspace has set its FY 2026 guidance at 4.810-5.050 EPS. As a group, sell-side analysts anticipate that Centerspace will post 4.85 earnings per share for the current fiscal year.

Centerspace Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 14th. Investors of record on Monday, June 29th will be paid a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 5.4%. The ex-dividend date is Monday, June 29th. Centerspace’s dividend payout ratio (DPR) is presently 684.44%.

Insider Transactions at Centerspace

In other Centerspace news, Director John A. Schissel purchased 500 shares of the business’s stock in a transaction on Thursday, June 18th. The stock was purchased at an average price of $54.90 per share, for a total transaction of $27,450.00. Following the completion of the purchase, the director directly owned 17,195 shares in the company, valued at approximately $944,005.50. This trade represents a 2.99% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Rodney Jones-Tyson purchased 1,700 shares of the business’s stock in a transaction on Monday, June 22nd. The shares were acquired at an average price of $55.26 per share, with a total value of $93,942.00. Following the purchase, the director owned 7,877 shares of the company’s stock, valued at approximately $435,283.02. This trade represents a 27.52% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.49% of the stock is owned by company insiders.

Institutional Trading of Centerspace

Several hedge funds have recently modified their holdings of CSR. Sound Income Strategies LLC increased its holdings in shares of Centerspace by 67.4% in the first quarter. Sound Income Strategies LLC now owns 626 shares of the company’s stock valued at $36,000 after purchasing an additional 252 shares in the last quarter. Covestor Ltd increased its holdings in shares of Centerspace by 57,100.0% in the fourth quarter. Covestor Ltd now owns 572 shares of the company’s stock valued at $38,000 after purchasing an additional 571 shares in the last quarter. Avalon Trust Co increased its holdings in shares of Centerspace by 36.3% in the first quarter. Avalon Trust Co now owns 709 shares of the company’s stock valued at $41,000 after purchasing an additional 189 shares in the last quarter. Danske Bank A S acquired a new stake in shares of Centerspace in the fourth quarter valued at approximately $47,000. Finally, Kestra Advisory Services LLC acquired a new stake in shares of Centerspace in the fourth quarter valued at approximately $58,000. Institutional investors and hedge funds own 79.00% of the company’s stock.

Centerspace Company Profile

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. Centerspace was named a Top Workplace for the fourth consecutive year in 2023 by the Minneapolis Star Tribune.