Centerspace (NYSE:CSR) Rating Increased to Buy at Janney Montgomery Scott

Janney Montgomery Scott upgraded shares of Centerspace (NYSE:CSR) from a neutral rating to a buy rating in a research report report published on Wednesday, Marketbeat reports. Janney Montgomery Scott currently has $72.00 target price on the stock.

A number of other research analysts have also recently weighed in on the stock. Wedbush assumed coverage on shares of Centerspace in a report on Tuesday, December 17th. They issued a “neutral” rating and a $72.00 price objective for the company. Royal Bank of Canada restated an “outperform” rating and issued a $76.00 price target on shares of Centerspace in a research note on Wednesday, October 30th. Finally, Raymond James cut Centerspace from an “outperform” rating to a “market perform” rating in a research note on Monday, October 21st. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $74.86.

Centerspace Stock Up 1.3 %

CSR opened at $61.66 on Wednesday. Centerspace has a 52 week low of $52.26 and a 52 week 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 has a fifty day simple moving average of $68.83 and a 200-day simple moving average of $70.49.

Centerspace (NYSE:CSR) last announced its earnings results on Monday, October 28th. The company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of $1.17 by ($1.57). The firm had revenue of $65.03 million for the quarter, compared to analysts’ expectations of $66.35 million. Centerspace had a negative net margin of 5.57% and a negative return on equity of 1.72%. During the same quarter last year, the business earned $1.20 earnings per share. On average, equities analysts predict that Centerspace will post 4.85 earnings per share for the current year.

Centerspace Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Monday, December 30th were paid a dividend of $0.75 per share. The ex-dividend date was Monday, December 30th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 4.87%. Centerspace’s payout ratio is currently -186.33%.

Institutional Trading of Centerspace

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Wellington Management Group LLP boosted its position in shares of Centerspace by 6.4% during the 3rd quarter. Wellington Management Group LLP now owns 1,019,353 shares of the company’s stock worth $71,834,000 after acquiring an additional 61,394 shares in the last quarter. State Street Corp lifted its stake in Centerspace by 0.5% during the third quarter. State Street Corp now owns 897,749 shares of the company’s stock worth $63,931,000 after purchasing an additional 4,263 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Centerspace by 3.1% in the third quarter. Geode Capital Management LLC now owns 387,517 shares of the company’s stock valued at $27,314,000 after purchasing an additional 11,749 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Centerspace by 9.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 275,511 shares of the company’s stock valued at $19,415,000 after purchasing an additional 23,839 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Centerspace by 6.9% in the second quarter. Dimensional Fund Advisors LP now owns 223,770 shares of the company’s stock valued at $15,134,000 after acquiring an additional 14,440 shares during the last quarter. 79.00% of the stock is currently 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.