Centerspace (NYSE:CSR) Earns Neutral Rating from Analysts at UBS Group

UBS Group began coverage on shares of Centerspace (NYSE:CSR) in a research report released on Monday, Marketbeat reports. The brokerage issued a neutral rating and a $67.00 price target on the stock.

A number of other research analysts also recently issued reports on CSR. Wells Fargo & Company initiated coverage on shares of Centerspace in a research report on Wednesday, March 19th. They set an “equal weight” rating and a $68.00 target price on the stock. Wedbush began coverage on shares of Centerspace in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $72.00 target price for the company. Janney Montgomery Scott upgraded shares of Centerspace from a “neutral” rating to a “buy” rating and set a $72.00 target price for the company in a research note on Wednesday, January 15th. Royal Bank of Canada raised their price objective on shares of Centerspace from $72.00 to $73.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. Finally, BMO Capital Markets upgraded shares of Centerspace from a “market perform” rating to an “outperform” rating and set a $77.00 price objective for the company in a report on Friday, April 4th. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $73.30.

Centerspace Stock Performance

CSR opened at $58.32 on Monday. The business’s 50 day moving average is $62.97 and its 200-day moving average is $66.47. The stock has a market cap of $975.55 million, a PE ratio of -45.92 and a beta of 0.79. The company has a current ratio of 0.04, a quick ratio of 0.05 and a debt-to-equity ratio of 0.74. Centerspace has a twelve month low of $54.13 and a twelve month high of $76.16.

Centerspace (NYSE:CSR) last posted its quarterly earnings results on Tuesday, February 18th. The company reported $1.21 EPS for the quarter, beating the consensus estimate of ($0.15) by $1.36. The business had revenue of $66.41 million for the quarter, compared to analysts’ expectations of $65.96 million. Centerspace had a negative net margin of 4.34% and a negative return on equity of 1.34%. On average, analysts predict that Centerspace will post 4.94 earnings per share for the current year.

Centerspace Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 8th. Investors of record on Friday, March 28th were issued a dividend of $0.77 per share. This is an increase from Centerspace’s previous quarterly dividend of $0.75. The ex-dividend date was Friday, March 28th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 5.28%. Centerspace’s payout ratio is -242.52%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of CSR. Smartleaf Asset Management LLC increased its position in shares of Centerspace by 370.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 381 shares of the company’s stock valued at $25,000 after buying an additional 300 shares in the last quarter. Sterling Capital Management LLC lifted its stake in shares of Centerspace by 903.8% in the 4th quarter. Sterling Capital Management LLC now owns 522 shares of the company’s stock valued at $35,000 after purchasing an additional 470 shares during the last quarter. KBC Group NV lifted 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 valued at $71,000 after purchasing an additional 466 shares during the last quarter. Summit Investment Advisors Inc. lifted its stake in Centerspace by 15.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 1,732 shares of the company’s stock worth $115,000 after acquiring an additional 229 shares in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in Centerspace during the 4th quarter worth about $196,000. 79.00% of the stock is owned by institutional investors and hedge funds.

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.