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

Shares of Centerspace (NYSE:CSR) have earned a consensus recommendation of “Hold” from the ten ratings firms that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, five have issued a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $68.00.

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

Insiders Place Their Bets

In other news, CFO Bhairav Patel bought 500 shares of the stock in a transaction on Friday, August 8th. The stock was purchased at an average price of $54.00 per share, for a total transaction of $27,000.00. Following the acquisition, the chief financial officer owned 3,733 shares in the company, valued at approximately $201,582. This trade represents a 15.47% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director John A. Schissel bought 500 shares of the stock in a transaction on Friday, August 8th. The shares were purchased at an average price of $54.00 per share, with a total value of $27,000.00. Following the acquisition, the director owned 14,398 shares in the company, valued at approximately $777,492. This represents a 3.60% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 1,750 shares of company stock worth $95,325. Corporate insiders own 0.44% of the company’s stock.

Hedge Funds Weigh In On Centerspace

A number of large investors have recently added to or reduced their stakes in the company. Nuveen LLC bought a new position in shares of Centerspace in the 1st quarter valued at about $13,147,000. Millennium Management LLC lifted its stake in Centerspace by 307.3% in the 1st quarter. Millennium Management LLC now owns 184,051 shares of the company’s stock valued at $11,917,000 after purchasing an additional 138,861 shares during the last quarter. Systematic Financial Management LP acquired a new stake in Centerspace in the 2nd quarter valued at about $7,662,000. Allianz Asset Management GmbH acquired a new stake in Centerspace in the 1st quarter valued at about $6,388,000. Finally, Strs Ohio lifted its stake in Centerspace by 3,025.8% in the 2nd quarter. Strs Ohio now owns 96,900 shares of the company’s stock valued at $5,832,000 after purchasing an additional 93,800 shares during the last quarter. Institutional investors own 79.00% of the company’s stock.

Centerspace Stock Performance

CSR stock opened at $60.23 on Monday. The business’s fifty day moving average is $58.16 and its 200-day moving average is $59.43. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.97. The company has a market cap of $1.01 billion, a P/E ratio of -33.46 and a beta of 0.73. Centerspace has a twelve month low of $52.76 and a twelve month high of $75.92.

Centerspace (NYSE:CSR) last posted its quarterly earnings results on Monday, August 4th. The company reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $68.55 million for the quarter, compared to the consensus estimate of $67.89 million. Centerspace has set its FY 2025 guidance at 4.880-5.000 EPS. Equities research analysts forecast that Centerspace will post 4.94 EPS for the current year.

Centerspace Dividend Announcement

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

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.