Centerspace (NYSE:CSR) Upgraded to Outperform at BMO Capital Markets

BMO Capital Markets upgraded shares of Centerspace (NYSE:CSR) from a market perform rating to an outperform rating in a research report report published on Friday morning, Marketbeat reports. They currently have $77.00 price target on the stock.

Several other equities analysts have also recently weighed in on CSR. Janney Montgomery Scott upgraded Centerspace from a “neutral” rating to a “buy” rating and set a $72.00 price objective on the stock in a report on Wednesday, January 15th. Royal Bank of Canada lifted their price target on shares of Centerspace from $72.00 to $73.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Wedbush initiated coverage on shares of Centerspace in a research report on Tuesday, December 17th. They set a “neutral” rating and a $72.00 price objective for the company. Finally, Wells Fargo & Company started coverage on shares of Centerspace in a research report on Wednesday, March 19th. They issued an “equal weight” rating and a $68.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Centerspace has an average rating of “Hold” and an average price target of $74.00.

Centerspace Stock Down 2.8 %

Centerspace stock opened at $60.14 on Friday. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of -47.35 and a beta of 0.79. The company’s 50 day simple moving average is $63.37 and its 200 day simple moving average is $67.05. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.04 and a quick ratio of 0.05. Centerspace has a fifty-two week low of $55.10 and a fifty-two week high of $76.16.

Centerspace (NYSE:CSR) last announced its quarterly earnings results on Tuesday, February 18th. The company reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $1.36. The company had revenue of $66.41 million during the quarter, compared to analyst estimates of $65.96 million. Centerspace had a negative net margin of 4.34% and a negative return on equity of 1.34%. As a group, sell-side analysts anticipate that Centerspace will post 4.94 EPS for the current year.

Centerspace Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 8th. Stockholders of record on Friday, March 28th will be paid a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 5.12%. This is an increase from Centerspace’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Friday, March 28th. Centerspace’s dividend payout ratio is currently -242.52%.

Hedge Funds Weigh In On Centerspace

Several hedge funds have recently modified their holdings of the stock. Summit Investment Advisors Inc. grew its stake in Centerspace by 15.2% in the fourth quarter. Summit Investment Advisors Inc. now owns 1,732 shares of the company’s stock valued at $115,000 after purchasing an additional 229 shares in the last quarter. California State Teachers Retirement System boosted its holdings in shares of Centerspace by 1.9% in the 4th quarter. California State Teachers Retirement System now owns 14,401 shares of the company’s stock valued at $953,000 after buying an additional 268 shares during the last quarter. Yousif Capital Management LLC grew its stake in shares of Centerspace by 4.6% in the fourth quarter. Yousif Capital Management LLC now owns 6,226 shares of the company’s stock valued at $412,000 after buying an additional 276 shares in the last quarter. Oregon Public Employees Retirement Fund increased its holdings in Centerspace by 8.4% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,861 shares of the company’s stock worth $255,000 after buying an additional 300 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its position in Centerspace by 370.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 381 shares of the company’s stock worth $25,000 after acquiring an additional 300 shares in the last quarter. Institutional investors 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.