Centerspace (NYSE:CSR) Downgraded by Wall Street Zen to “Strong Sell”

Wall Street Zen cut shares of Centerspace (NYSE:CSR) from a sell rating to a strong sell rating in a research report sent to investors on Saturday.

Several other equities research analysts have also weighed in on the stock. Weiss Ratings raised shares of Centerspace from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday. Royal Bank Of Canada upped their target price on shares of Centerspace from $70.00 to $71.00 and gave the stock an “outperform” rating in a report on Wednesday. Wells Fargo & Company decreased their price objective on shares of Centerspace from $74.00 to $69.00 and set an “equal weight” rating on the stock in a report on Thursday, March 5th. Finally, Piper Sandler raised shares of Centerspace from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $69.00 to $72.00 in a report on Tuesday, April 7th. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $68.67.

Centerspace Stock Up 0.2%

CSR opened at $67.60 on Friday. The firm’s 50-day simple moving average is $62.33 and its 200-day simple moving average is $63.55. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.04 and a current ratio of 0.03. Centerspace has a twelve month low of $52.76 and a twelve month high of $69.61. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of 150.23 and a beta of 0.89.

Centerspace (NYSE:CSR) last posted its earnings results on Monday, May 4th. The company reported ($0.77) earnings per share for the quarter, missing the consensus estimate of ($0.29) by ($0.48). Centerspace had a return on equity of 0.94% and a net margin of 2.93%.The firm 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. Equities research analysts anticipate that Centerspace will post 4.85 EPS for the current fiscal year.

Centerspace Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 14th. Investors of record on Monday, March 30th were given a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date was Monday, March 30th. Centerspace’s dividend payout ratio (DPR) is currently 684.44%.

Institutional Trading of Centerspace

A number of hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP raised its holdings in Centerspace by 0.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 238,535 shares of the company’s stock worth $13,704,000 after buying an additional 2,139 shares during the period. Avalon Trust Co raised its holdings in Centerspace by 36.3% during the 1st quarter. Avalon Trust Co now owns 709 shares of the company’s stock worth $41,000 after buying an additional 189 shares during the period. Principal Financial Group Inc. raised its holdings in Centerspace by 2.0% during the 1st quarter. Principal Financial Group Inc. now owns 81,188 shares of the company’s stock worth $4,664,000 after buying an additional 1,575 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in Centerspace by 21.9% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 11,712 shares of the company’s stock worth $673,000 after buying an additional 2,107 shares during the period. Finally, Fifth Third Bancorp raised its holdings in Centerspace by 4,481.9% during the 1st quarter. Fifth Third Bancorp now owns 3,803 shares of the company’s stock worth $218,000 after buying an additional 3,720 shares during the period. 79.00% of the stock is currently owned by institutional investors and hedge funds.

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.