Centerspace (NYSE:CSR) Cut to “Strong Sell” at Wall Street Zen

Wall Street Zen cut shares of Centerspace (NYSE:CSR) from a hold rating to a strong sell rating in a report released on Saturday morning.

CSR has been the topic of a number of other reports. Piper Sandler upped their price target on shares of Centerspace from $66.00 to $69.00 and gave the stock a “neutral” rating in a research note on Thursday. UBS Group boosted their target price on Centerspace from $63.00 to $66.00 and gave the company a “neutral” rating in a research note on Thursday, January 8th. Weiss Ratings reissued a “hold (c+)” rating on shares of Centerspace in a research note on Monday, December 29th. Wells Fargo & Company increased their price objective on Centerspace from $60.00 to $74.00 and gave the stock an “equal weight” rating in a report on Monday, November 17th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $65.00 price objective on shares of Centerspace in a research report on Monday, January 5th. Two analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $70.29.

Centerspace Price Performance

Shares of CSR opened at $62.14 on Friday. The company has a market capitalization of $1.04 billion, a price-to-earnings ratio of 62.14 and a beta of 0.78. Centerspace has a fifty-two week low of $52.76 and a fifty-two week high of $69.15. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.04 and a quick ratio of 0.04. The business’s 50-day moving average is $65.02 and its 200-day moving average is $62.02.

Centerspace (NYSE:CSR) last posted its quarterly earnings results on Tuesday, February 17th. The company reported ($1.10) EPS for the quarter, missing the consensus estimate of $1.21 by ($2.31). The company had revenue of $66.62 million for the quarter, compared to analyst estimates of $69.77 million. Centerspace had a return on equity of 2.00% and a net margin of 6.25%.Centerspace has set its FY 2026 guidance at 4.810-5.050 EPS. Equities research analysts expect that Centerspace will post 4.94 EPS for the current fiscal year.

Centerspace Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 14th. Investors of record on Monday, March 30th will be paid a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 5.0%. The ex-dividend date is Monday, March 30th. Centerspace’s dividend payout ratio is presently 308.00%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Covestor Ltd boosted its holdings in Centerspace by 57,100.0% during 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. Hantz Financial Services Inc. boosted its stake in Centerspace by 998.3% in the 3rd quarter. Hantz Financial Services Inc. now owns 659 shares of the company’s stock valued at $39,000 after buying an additional 599 shares in the last quarter. Danske Bank A S acquired a new position in Centerspace during the fourth quarter worth $47,000. Kestra Advisory Services LLC acquired a new position in Centerspace during the fourth quarter worth $58,000. Finally, GAMMA Investing LLC lifted its holdings in shares of Centerspace by 107.0% during the fourth quarter. GAMMA Investing LLC now owns 942 shares of the company’s stock valued at $63,000 after acquiring an additional 487 shares during the period. Institutional investors own 79.00% of the company’s stock.

About Centerspace

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.