Centerspace (NYSE:CSR) Given Consensus Rating of “Hold” by Analysts

Centerspace (NYSE:CSR) has been given an average recommendation of “Hold” by the seven analysts that are presently covering the company, Marketbeat.com reports. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $74.86.

Several research analysts have recently weighed in on CSR shares. Wedbush started coverage on Centerspace in a research note on Tuesday, December 17th. They set a “neutral” rating and a $72.00 target price for the company. Royal Bank of Canada reissued an “outperform” rating and set a $76.00 price objective on shares of Centerspace in a research report on Wednesday, October 30th. Raymond James downgraded Centerspace from an “outperform” rating to a “market perform” rating in a research note on Monday, October 21st. Finally, Janney Montgomery Scott upgraded Centerspace from a “neutral” rating to a “buy” rating and set a $72.00 price target on the stock in a research note on Wednesday, January 15th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC raised its position in shares of Centerspace by 370.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 381 shares of the company’s stock valued at $25,000 after purchasing an additional 300 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Centerspace by 35.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 579 shares of the company’s stock worth $41,000 after purchasing an additional 150 shares during the period. Loomis Sayles & Co. L P boosted its stake in Centerspace by 3,131.6% during the 3rd quarter. Loomis Sayles & Co. L P now owns 614 shares of the company’s stock valued at $43,000 after purchasing an additional 595 shares in the last quarter. KBC Group NV grew its stake in shares of Centerspace by 75.9% in the 4th quarter. KBC Group NV now owns 1,080 shares of the company’s stock worth $71,000 after purchasing an additional 466 shares during the last quarter. Finally, Van ECK Associates Corp grew its holdings in shares of Centerspace by 15.2% in the 3rd quarter. Van ECK Associates Corp now owns 2,626 shares of the company’s stock worth $186,000 after acquiring an additional 347 shares during the last quarter. 79.00% of the stock is owned by hedge funds and other institutional investors.

Centerspace Trading Down 1.0 %

NYSE:CSR opened at $61.67 on Wednesday. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.70. The firm has a fifty day simple moving average of $64.64 and a 200-day simple moving average of $69.51. Centerspace has a 12 month low of $52.26 and a 12 month high of $76.16. The company has a market capitalization of $1.02 billion, a P/E ratio of -38.31 and a beta of 0.90.

Centerspace Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Monday, December 30th were issued a $0.75 dividend. The ex-dividend date was Monday, December 30th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 4.86%. Centerspace’s dividend payout ratio (DPR) is -186.33%.

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.