Centerspace (NYSE:CSR) Rating Lowered to Market Perform at Raymond James

Raymond James cut shares of Centerspace (NYSE:CSR) from an outperform rating to a market perform rating in a research note released on Monday, Marketbeat.com reports.

Several other research analysts also recently weighed in on the company. BTIG Research lifted their target price on Centerspace from $69.00 to $79.00 and gave the company a “buy” rating in a research note on Monday, August 12th. Piper Sandler lifted their target price on Centerspace from $64.00 to $75.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Finally, Royal Bank of Canada lifted their target price on Centerspace from $72.00 to $73.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $75.40.

Centerspace Trading Up 0.2 %

NYSE:CSR opened at $70.87 on Monday. The stock’s 50 day moving average price is $72.77 and its 200 day moving average price is $69.58. The company has a market capitalization of $1.06 billion, a PE ratio of -88.38, a P/E/G ratio of 2.08 and a beta of 0.89. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.79. Centerspace has a 52-week low of $46.74 and a 52-week high of $76.16.

Centerspace (NYSE:CSR) last announced its earnings results on Monday, July 29th. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of $1.20 by ($1.39). Centerspace had a negative net margin of 2.16% and a negative return on equity of 0.67%. The company had revenue of $65.04 million during the quarter, compared to analysts’ expectations of $65.90 million. During the same quarter last year, the business posted $1.28 earnings per share. On average, research analysts anticipate that Centerspace will post 4.83 EPS 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 paid a $0.75 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 4.23%. Centerspace’s dividend payout ratio (DPR) is presently -375.00%.

Institutional Trading of Centerspace

Institutional investors have recently modified their holdings of the business. UniSuper Management Pty Ltd boosted its stake in shares of Centerspace by 199.4% in the first quarter. UniSuper Management Pty Ltd now owns 12,785 shares of the company’s stock valued at $731,000 after buying an additional 8,515 shares in the last quarter. Boston Partners purchased a new stake in Centerspace during the first quarter worth $545,000. Price T Rowe Associates Inc. MD boosted its position in Centerspace by 5.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,191 shares of the company’s stock worth $697,000 after purchasing an additional 652 shares in the last quarter. Millennium Management LLC boosted its position in Centerspace by 377.3% during the second quarter. Millennium Management LLC now owns 43,604 shares of the company’s stock worth $2,949,000 after purchasing an additional 34,469 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its position in Centerspace by 1,438.2% during the first quarter. Janus Henderson Group PLC now owns 97,940 shares of the company’s stock worth $5,597,000 after purchasing an additional 91,573 shares in the last quarter. 79.00% of the stock is currently owned by hedge funds and other institutional investors.

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.