Centerspace (NYSE:CSR) Receives Average Rating of “Hold” from Brokerages

Shares of Centerspace (NYSE:CSR) have been assigned a consensus rating of “Hold” from the ten brokerages that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $64.00.

A number of equities research analysts recently weighed in on the company. Zacks Research lowered Centerspace from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 18th. Piper Sandler lowered their price objective on Centerspace from $60.00 to $58.00 and set a “neutral” rating for the company in a research note on Thursday, August 27th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $57.00 price objective on shares of Centerspace in a report on Thursday, September 10th. Wells Fargo & Company cut their target price on shares of Centerspace from $60.00 to $57.00 and set an “equal weight” rating on the stock in a research report on Tuesday, September 1st. Finally, Weiss Ratings lowered shares of Centerspace from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, August 19th.

Hedge Funds Weigh In On Centerspace

A number of hedge funds and other institutional investors have recently made changes to their positions in CSR. BlackRock Inc. bought a new stake in shares of Centerspace in the 2nd quarter valued at $167,912,000. Voss Capital LP bought a new position in shares of Centerspace in the 4th quarter worth about $22,068,000. Pacific Heights Asset Management LLC acquired a new position in shares of Centerspace in the 2nd quarter valued at about $16,857,000. Bank of New York Mellon Corp acquired a new position in shares of Centerspace in the 2nd quarter valued at about $7,190,000. Finally, Diamond Hill Capital Management LLC Investment Advisor bought a new stake in shares of Centerspace during the 2nd quarter valued at about $7,009,000. 79.00% of the stock is owned by institutional investors and hedge funds.

Centerspace Stock Performance

Centerspace stock opened at $54.55 on Monday. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.87. The stock has a market cap of $915.81 million, a PE ratio of 43.29 and a beta of 0.84. Centerspace has a 12-month low of $52.00 and a 12-month high of $69.61. The business’s 50-day moving average price is $55.03 and its two-hundred day moving average price is $58.85.

Centerspace (NYSE:CSR) last released its quarterly earnings data on Monday, August 3rd. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.06. The business 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, analysts expect 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 will be paid on Wednesday, October 14th. Shareholders of record on Tuesday, September 29th will be issued a dividend of $0.77 per share. The ex-dividend date of this dividend is Tuesday, September 29th. This represents a $3.08 annualized dividend and a yield of 5.6%. Centerspace’s payout ratio is presently 244.44%.

About Centerspace

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.