Centerspace (NYSE:CSR) Downgraded to “Neutral” at Compass Point

Compass Point cut shares of Centerspace (NYSE:CSR) from a buy rating to a neutral rating in a report issued on Friday morning, Marketbeat reports. They currently have $68.00 price objective on the stock, up from their previous price objective of $65.00.

A number of other equities research analysts have also recently issued reports on CSR. Piper Sandler reissued a neutral rating and set a $63.00 target price on shares of Centerspace in a report on Tuesday, March 26th. Royal Bank of Canada upped their price target on shares of Centerspace from $66.00 to $68.00 and gave the stock an outperform rating in a report on Wednesday, May 1st. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus target price of $66.17.

Centerspace Price Performance

Shares of NYSE CSR opened at $68.71 on Friday. Centerspace has a twelve month low of $46.74 and a twelve month high of $69.97. The stock’s 50 day moving average price is $59.26 and its 200-day moving average price is $56.25. The company has a market capitalization of $1.02 billion, a PE ratio of -85.89, a PEG ratio of 2.07 and a beta of 0.87. The company has a quick ratio of 0.03, a current ratio of 0.04 and a debt-to-equity ratio of 0.77.

Centerspace (NYSE:CSR) last announced its earnings results on Monday, April 29th. The company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of $1.12 by ($1.49). The business had revenue of $64.51 million during the quarter, compared to analysts’ expectations of $65.30 million. Centerspace had a negative return on equity of 0.73% and a negative net margin of 2.38%. During the same quarter in the previous year, the firm earned $1.07 EPS. On average, equities analysts anticipate that Centerspace will post 4.75 EPS for the current year.

Centerspace Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 8th. Investors of record on Thursday, March 28th were given a $0.75 dividend. 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. This represents a $3.00 annualized dividend and a yield of 4.37%. Centerspace’s payout ratio is -375.00%.

Insider Buying and Selling

In other Centerspace news, Director John A. Schissel purchased 500 shares of the business’s stock in a transaction on Monday, March 11th. The stock was acquired at an average cost of $56.40 per share, for a total transaction of $28,200.00. Following the completion of the transaction, the director now directly owns 9,522 shares in the company, valued at approximately $537,040.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.92% of the stock is owned by company insiders.

Institutional Trading of Centerspace

Several institutional investors have recently added to or reduced their stakes in the business. Daiwa Securities Group Inc. boosted its position in Centerspace by 4.9% during the first quarter. Daiwa Securities Group Inc. now owns 4,764 shares of the company’s stock valued at $272,000 after buying an additional 222 shares during the period. Nisa Investment Advisors LLC boosted its position in Centerspace by 4.6% during the third quarter. Nisa Investment Advisors LLC now owns 6,605 shares of the company’s stock valued at $398,000 after buying an additional 290 shares during the period. Asset Management One Co. Ltd. boosted its position in Centerspace by 1.3% during the fourth quarter. Asset Management One Co. Ltd. now owns 23,023 shares of the company’s stock valued at $1,366,000 after buying an additional 301 shares during the period. SG Americas Securities LLC boosted its position in Centerspace by 2.6% during the fourth quarter. SG Americas Securities LLC now owns 12,662 shares of the company’s stock valued at $737,000 after buying an additional 318 shares during the period. Finally, New York State Common Retirement Fund boosted its position in Centerspace by 1.6% during the fourth quarter. New York State Common Retirement Fund now owns 20,679 shares of the company’s stock valued at $1,204,000 after buying an additional 329 shares during the period. 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.