Centerspace’s (CSR) “Outperform” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of Centerspace (NYSE:CSR) in a research report sent to investors on Wednesday, Benzinga reports. The brokerage currently has a $76.00 target price on the stock.

Several other equities analysts also recently weighed in on the company. BTIG Research raised their target price on Centerspace from $69.00 to $79.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Raymond James cut Centerspace from an “outperform” rating to a “market perform” rating in a report on Monday, October 21st. Finally, Piper Sandler lifted their target price on shares of Centerspace from $64.00 to $75.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $76.00.

Centerspace Stock Down 4.2 %

Shares of CSR stock opened at $66.76 on Wednesday. Centerspace has a fifty-two week low of $48.23 and a fifty-two week high of $76.16. The firm has a market capitalization of $1.11 billion, a PE ratio of -41.47, a P/E/G ratio of 2.09 and a beta of 0.89. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.04 and a current ratio of 0.05. The stock’s 50-day simple moving average is $72.15 and its 200-day simple moving average is $69.96.

Centerspace (NYSE:CSR) last released its quarterly earnings data on Monday, October 28th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate of $1.17 by ($1.57). Centerspace had a negative net margin of 5.57% and a negative return on equity of 1.72%. The business had revenue of $65.03 million during the quarter, compared to analysts’ expectations of $66.35 million. During the same period last year, the company earned $1.20 earnings per share. Equities analysts expect that Centerspace will post 4.85 earnings per share for the current year.

Centerspace Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Monday, September 30th were issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 4.49%. The ex-dividend date was Monday, September 30th. Centerspace’s dividend payout ratio (DPR) is -186.33%.

Institutional Trading of Centerspace

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CSR. Mirae Asset Global Investments Co. Ltd. lifted its position in Centerspace by 35.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 579 shares of the company’s stock valued at $41,000 after acquiring an additional 150 shares during the last quarter. Asset Management One Co. Ltd. boosted its position in shares of Centerspace by 0.7% in the 3rd quarter. Asset Management One Co. Ltd. now owns 23,116 shares of the company’s stock valued at $1,629,000 after purchasing an additional 170 shares during the period. The Manufacturers Life Insurance Company increased its position in Centerspace by 3.1% during the second quarter. The Manufacturers Life Insurance Company now owns 5,736 shares of the company’s stock worth $388,000 after buying an additional 171 shares during the period. Texas Permanent School Fund Corp increased its position in Centerspace by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 13,174 shares of the company’s stock worth $753,000 after buying an additional 176 shares during the period. Finally, State of Alaska Department of Revenue boosted its holdings in shares of Centerspace by 1.3% in the third quarter. State of Alaska Department of Revenue now owns 16,110 shares of the company’s stock valued at $1,134,000 after acquiring an additional 208 shares during the period. 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.