Centerspace (NYSE:CSR) Lowered to Strong Sell Rating by Zacks Research

Zacks Research lowered shares of Centerspace (NYSE:CSR) from a hold rating to a strong sell rating in a research note published on Tuesday morning,Zacks.com reports.

Other equities research analysts have also recently issued reports about the company. Royal Bank Of Canada cut their target price on Centerspace from $67.00 to $64.00 and set an “outperform” rating for the company in a research note on Wednesday, August 5th. BTIG Research cut Centerspace from a “buy” rating to a “neutral” rating in a report on Tuesday, June 16th. UBS Group boosted their price target on Centerspace from $66.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. Wall Street Zen upgraded Centerspace from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Piper Sandler reduced their price objective on Centerspace from $64.00 to $60.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 21st. One equities research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $63.80.

Centerspace Price Performance

CSR stock opened at $54.21 on Tuesday. The company’s 50-day moving average price is $55.92 and its two-hundred day moving average price is $60.71. The firm has a market cap of $910.19 million, a P/E ratio of 43.02 and a beta of 0.88. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.87. Centerspace has a 12 month low of $53.33 and a 12 month high of $69.61.

Centerspace (NYSE:CSR) last issued its quarterly earnings results on Monday, August 3rd. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.06. The company had revenue of $65.78 million during the quarter, compared to the consensus estimate of $66.29 million. Centerspace had a net margin of 7.97% and a return on equity of 2.58%. Centerspace has set its FY 2026 guidance at 4.580-4.680 EPS. On average, analysts anticipate that Centerspace will post 4.67 earnings per share for the current fiscal year.

Centerspace Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 14th. Shareholders of record on Monday, June 29th were given a $0.77 dividend. The ex-dividend date was Monday, June 29th. This represents a $3.08 dividend on an annualized basis and a yield of 5.7%. Centerspace’s dividend payout ratio (DPR) is currently 244.44%.

Insider Buying and Selling

In related news, Director Rodney Jones-Tyson bought 1,700 shares of the firm’s stock in a transaction on Monday, June 22nd. The shares were purchased at an average price of $55.26 per share, with a total value of $93,942.00. Following the completion of the purchase, the director owned 7,877 shares in the company, valued at $435,283.02. This represents a 27.52% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director John A. Schissel purchased 500 shares of the stock in a transaction dated Thursday, June 18th. The shares were bought at an average price of $54.90 per share, with a total value of $27,450.00. Following the completion of the acquisition, the director directly owned 17,195 shares of the company’s stock, valued at approximately $944,005.50. This represents a 2.99% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 0.49% of the company’s stock.

Hedge Funds Weigh In On Centerspace

A number of institutional investors and hedge funds have recently bought and sold shares of CSR. Sound Income Strategies LLC boosted its stake in shares of Centerspace by 67.4% during 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 stake 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 buying an additional 571 shares during the period. Avalon Trust Co increased its stake 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 buying an additional 189 shares during the period. Danske Bank A S bought a new position in Centerspace in the 4th quarter valued at approximately $47,000. Finally, Kestra Advisory Services LLC bought a new position in Centerspace in the 4th 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.