Centerspace (NYSE:CSR) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Centerspace (NYSE:CSR) have been given an average recommendation of “Moderate Buy” by the seven brokerages that are currently covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year target price among analysts that have covered the stock in the last year is $65.57.

Several research analysts recently issued reports on CSR shares. Royal Bank of Canada reissued an “outperform” rating and issued a $63.00 price objective on shares of Centerspace in a research note on Friday, March 22nd. Piper Sandler reaffirmed a “neutral” rating and set a $63.00 target price on shares of Centerspace in a research report on Tuesday, March 26th.

Centerspace Stock Up 1.2 %

Shares of NYSE:CSR opened at $65.64 on Tuesday. Centerspace has a 52-week low of $46.74 and a 52-week high of $66.99. The stock has a market cap of $977.38 million, a P/E ratio of 28.17, a price-to-earnings-growth ratio of 1.96 and a beta of 0.93. The business’s 50 day moving average is $57.36 and its 200 day moving average is $55.68. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.74.

Centerspace Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 8th. Stockholders of record on Thursday, March 28th were issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 4.57%. The ex-dividend date of this dividend was Wednesday, March 27th. This is a positive change from Centerspace’s previous quarterly dividend of $0.73. Centerspace’s dividend payout ratio is currently 128.76%.

Insider Activity

In other news, Director John A. Schissel acquired 500 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were acquired at an average cost of $56.40 per share, with a total value of $28,200.00. Following the completion of the acquisition, the director now owns 9,522 shares of the company’s stock, valued at $537,040.80. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.96% of the company’s stock.

Institutional Trading of Centerspace

A number of hedge funds and other institutional investors have recently made changes to their positions in CSR. ICA Group Wealth Management LLC acquired a new stake in shares of Centerspace in the fourth quarter worth $55,000. Van ECK Associates Corp increased its stake in shares of Centerspace by 19.7% in the fourth quarter. Van ECK Associates Corp now owns 2,118 shares of the company’s stock worth $123,000 after acquiring an additional 348 shares during the period. Meeder Asset Management Inc. acquired a new stake in shares of Centerspace in the fourth quarter worth $149,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Centerspace in the first quarter worth $173,000. Finally, DekaBank Deutsche Girozentrale increased its stake in shares of Centerspace by 18.8% in the third quarter. DekaBank Deutsche Girozentrale now owns 3,709 shares of the company’s stock worth $224,000 after acquiring an additional 587 shares during the period. Institutional investors and hedge funds own 79.00% of the company’s stock.

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.