Centerspace (NYSE:CSR) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Centerspace (NYSE:CSR) have received an average recommendation of “Hold” from the eight research firms that are presently covering the stock, MarketBeat reports. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $63.80.

A number of brokerages recently commented on CSR. BTIG Research cut shares of Centerspace from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 16th. Wells Fargo & Company cut their target price on shares of Centerspace from $70.00 to $60.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 22nd. Weiss Ratings raised shares of Centerspace from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 4th. Wall Street Zen upgraded shares of Centerspace from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Piper Sandler lowered their price target on shares of Centerspace from $64.00 to $60.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 21st.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Centerspace

Hedge funds and other institutional investors have recently made changes to their positions in the business. Royal Bank of Canada lifted its stake in shares of Centerspace by 199.5% during the first quarter. Royal Bank of Canada now owns 15,720 shares of the company’s stock worth $1,019,000 after purchasing an additional 10,472 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Centerspace by 32.5% in the first quarter. AQR Capital Management LLC now owns 4,891 shares of the company’s stock valued at $317,000 after buying an additional 1,200 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Centerspace by 2.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,790 shares of the company’s stock valued at $958,000 after buying an additional 287 shares during the period. Millennium Management LLC raised its holdings in shares of Centerspace by 307.3% during the 1st quarter. Millennium Management LLC now owns 184,051 shares of the company’s stock valued at $11,917,000 after buying an additional 138,861 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in Centerspace by 17.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 138,676 shares of the company’s stock worth $8,979,000 after acquiring an additional 20,992 shares in the last quarter. Institutional investors and hedge funds own 79.00% of the company’s stock.

Centerspace Stock Up 1.4%

Centerspace stock opened at $55.85 on Friday. Centerspace has a twelve month low of $53.81 and a twelve month high of $69.61. The stock has a 50 day moving average of $56.21 and a two-hundred day moving average of $60.98. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.87. The stock has a market capitalization of $937.72 million, a price-to-earnings ratio of 44.33 and a beta of 0.88.

Centerspace (NYSE:CSR) last posted its quarterly earnings results on Monday, August 3rd. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.06. The firm had revenue of $65.78 million during the quarter, compared to analysts’ expectations 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. As a group, research analysts expect that Centerspace will post 4.63 earnings per share for the current 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 issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 5.5%. The ex-dividend date was Monday, June 29th. Centerspace’s dividend payout ratio is 244.44%.

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.