Centerspace (NYSE:CSR) Now Covered by Wedbush

Wedbush began coverage on shares of Centerspace (NYSE:CSR) in a research report sent to investors on Tuesday, Marketbeat reports. The firm issued a neutral rating and a $72.00 target price on the stock.

A number of other analysts also recently commented on the stock. Raymond James downgraded shares of Centerspace from an “outperform” rating to a “market perform” rating in a report on Monday, October 21st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $76.00 price target on shares of Centerspace in a report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Centerspace has a consensus rating of “Hold” and an average target price of $75.33.

Centerspace Stock Down 1.5 %

Shares of CSR stock opened at $64.75 on Tuesday. Centerspace has a 1 year low of $52.26 and a 1 year high of $76.16. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.05 and a current ratio of 0.05. The business’s fifty day moving average is $70.99 and its 200-day moving average is $70.92. The stock has a market cap of $1.07 billion, a PE ratio of -40.22, a price-to-earnings-growth ratio of 2.05 and a beta of 0.89.

Centerspace (NYSE:CSR) last released its earnings results on Monday, October 28th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.17 by ($1.57). Centerspace had a negative return on equity of 1.72% and a negative net margin of 5.57%. The firm had revenue of $65.03 million for the quarter, compared to analyst estimates of $66.35 million. During the same period in the previous year, the firm earned $1.20 earnings per share. Equities analysts expect that Centerspace will post 4.86 earnings per share for the current fiscal year.

Centerspace Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Monday, December 30th will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 4.63%. The ex-dividend date is Monday, December 30th. Centerspace’s dividend payout ratio (DPR) is currently -186.34%.

Institutional Investors Weigh In On Centerspace

Hedge funds have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. grew its position in Centerspace by 35.0% during the 3rd 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 in the last quarter. Rothschild Investment LLC acquired a new stake in shares of Centerspace in the second quarter worth $42,000. Loomis Sayles & Co. L P grew its holdings in shares of Centerspace by 3,131.6% during the third quarter. Loomis Sayles & Co. L P now owns 614 shares of the company’s stock valued at $43,000 after buying an additional 595 shares in the last quarter. Van ECK Associates Corp raised its position in Centerspace by 15.2% during the third quarter. Van ECK Associates Corp now owns 2,626 shares of the company’s stock valued at $186,000 after buying an additional 347 shares during the period. Finally, Versor Investments LP purchased a new stake in Centerspace in the 3rd quarter worth about $204,000. Hedge funds and other 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.