Centerspace (NYSE:CSR) Upgraded to “Hold” at Zacks Research

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

CSR has been the topic of several other research reports. Weiss Ratings downgraded Centerspace from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, August 19th. Piper Sandler decreased their target price on Centerspace from $58.00 to $56.00 and set a “neutral” rating for the company in a research report on Monday. BTIG Research lowered shares of Centerspace from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 16th. Wells Fargo & Company lowered their target price on shares of Centerspace from $60.00 to $57.00 and set an “equal weight” rating for the company in a research note on Tuesday, September 1st. Finally, UBS Group cut their price target on shares of Centerspace from $68.00 to $65.00 and set a “neutral” rating on the stock in a report on Wednesday. Two analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $63.17.

Centerspace Stock Down 1.0%

Shares of NYSE:CSR opened at $55.48 on Tuesday. The firm has a market capitalization of $933.33 million, a PE ratio of 44.03 and a beta of 0.84. The business has a 50 day simple moving average of $54.99 and a two-hundred day simple moving average of $58.65. Centerspace has a 1 year low of $52.00 and a 1 year high of $69.61. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.03 and a quick ratio of 0.03.

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 the consensus estimate of ($0.13) by $0.06. Centerspace had a return on equity of 2.58% and a net margin of 7.97%. The firm had revenue of $65.78 million for the quarter, compared to the consensus estimate of $66.29 million. Centerspace has set its FY 2026 guidance at 4.580-4.680 EPS. On average, equities analysts predict that Centerspace will post 4.67 EPS for the current year.

Centerspace Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 14th. Shareholders of record on Tuesday, September 29th were issued a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 5.6%. The ex-dividend date was Tuesday, September 29th. Centerspace’s dividend payout ratio (DPR) is presently 244.44%.

Institutional Investors Weigh In On Centerspace

Hedge funds have recently made changes to their positions in the company. Avalon Trust Co boosted its stake in shares of Centerspace by 36.3% during 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. Sound Income Strategies LLC increased its holdings in 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 buying an additional 252 shares during the period. Amundi raised its stake in Centerspace by 4.4% in the first quarter. Amundi now owns 11,052 shares of the company’s stock worth $635,000 after buying an additional 462 shares in the last quarter. Resona Asset Management Co. Ltd. raised its stake in Centerspace by 7.2% in the first quarter. Resona Asset Management Co. Ltd. now owns 7,502 shares of the company’s stock worth $431,000 after buying an additional 504 shares in the last quarter. Finally, State of Wyoming bought a new position in Centerspace in the second quarter worth approximately $60,000. 79.00% of the stock is currently owned by hedge funds and other institutional investors.

Centerspace Company Profile

Centerspace (NYSE:CSR) is a real estate investment trust that owns, operates and manages apartment communities. The company focuses on providing rental housing and generating income through multifamily properties, with operations concentrated in select markets across the Upper Midwest and Mountain West regions of the United States.

Its portfolio includes apartment communities serving a range of residents and household needs. Centerspace is involved in property management, leasing, resident services, maintenance and the ongoing improvement of its communities.