Centerspace (NYSE:CSR) Upgraded to “Hold” at Wall Street Zen

Wall Street Zen upgraded shares of Centerspace (NYSE:CSR) from a sell rating to a hold rating in a research note issued to investors on Saturday.

A number of other analysts also recently commented on CSR. BTIG Research downgraded Centerspace from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 16th. UBS Group lifted their price target on Centerspace from $66.00 to $70.00 and gave the stock a “neutral” rating in a research note on Thursday, May 14th. Wells Fargo & Company decreased their price objective on shares of Centerspace from $70.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 22nd. Weiss Ratings upgraded shares of Centerspace from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday. Finally, Piper Sandler lowered their price objective on shares of Centerspace from $64.00 to $60.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 21st. One equities research analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $63.80.

Centerspace Trading Up 1.1%

Shares of Centerspace stock opened at $56.63 on Friday. The company has a 50-day moving average of $56.72 and a two-hundred day moving average of $61.26. Centerspace has a 12-month low of $53.00 and a 12-month high of $69.61. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.87. The stock has a market cap of $951.13 million, a PE ratio of 44.95 and a beta of 0.88.

Centerspace (NYSE:CSR) last announced its quarterly earnings results on Monday, August 3rd. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.06. The business had revenue of $65.78 million for the quarter, compared to analyst estimates of $66.29 million. Centerspace had a return on equity of 2.58% and a net margin of 7.97%.Centerspace has set its FY 2026 guidance at 4.580-4.680 EPS. On average, research analysts anticipate that Centerspace will post 4.63 EPS for the current fiscal year.

Centerspace Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 14th. Investors of record on Monday, June 29th were paid a $0.77 dividend. The ex-dividend date of this dividend was Monday, June 29th. This represents a $3.08 dividend on an annualized basis and a yield of 5.4%. Centerspace’s dividend payout ratio is presently 244.44%.

Insiders Place Their Bets

In related news, Director John A. Schissel bought 500 shares of the stock in a transaction on Thursday, June 18th. The shares were purchased at an average price of $54.90 per share, for a total transaction of $27,450.00. Following the acquisition, the director owned 17,195 shares in the company, valued at $944,005.50. This represents a 2.99% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Rodney Jones-Tyson purchased 1,700 shares of the company’s stock in a transaction on Monday, June 22nd. The shares were bought at an average cost of $55.26 per share, with a total value of $93,942.00. Following the transaction, the director directly owned 7,877 shares of the company’s stock, valued at $435,283.02. This represents a 27.52% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.49% of the stock is currently owned by corporate insiders.

Institutional Trading of Centerspace

A number of large investors have recently made changes to their positions in the stock. Sound Income Strategies LLC increased its position in Centerspace by 67.4% during the 1st quarter. Sound Income Strategies LLC now owns 626 shares of the company’s stock worth $36,000 after purchasing an additional 252 shares in the last quarter. Covestor Ltd lifted its holdings in Centerspace by 57,100.0% in the 4th quarter. Covestor Ltd now owns 572 shares of the company’s stock valued at $38,000 after purchasing an additional 571 shares in the last quarter. Avalon Trust Co lifted its holdings in Centerspace by 36.3% in the 1st quarter. Avalon Trust Co now owns 709 shares of the company’s stock valued at $41,000 after purchasing an additional 189 shares in the last quarter. Danske Bank A S acquired a new stake in shares of Centerspace during the 4th quarter worth about $47,000. Finally, Kestra Advisory Services LLC acquired a new stake in shares of Centerspace during the 4th quarter worth about $58,000. 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. Centerspace was named a Top Workplace for the fourth consecutive year in 2023 by the Minneapolis Star Tribune.