Centerspace (NYSE:CSR) Rating Lowered to Neutral at Compass Point

Compass Point lowered shares of Centerspace (NYSE:CSR) from a buy rating to a neutral rating in a research note released on Friday, MarketBeat.com reports. Compass Point currently has $68.00 price target on the stock, up from their prior price target of $65.00.

CSR has been the subject of several other reports. Royal Bank of Canada raised their price objective on Centerspace from $66.00 to $68.00 and gave the stock an outperform rating in a research note on Wednesday, May 1st. Piper Sandler reiterated a neutral rating and issued a $63.00 target price on shares of Centerspace in a report on Tuesday, March 26th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of $66.33.

Centerspace Trading Up 0.9 %

Shares of Centerspace stock opened at $69.35 on Friday. The business has a fifty day simple moving average of $59.26 and a 200-day simple moving average of $56.25. Centerspace has a fifty-two week low of $46.74 and a fifty-two week high of $70.15. The firm has a market cap of $1.03 billion, a price-to-earnings ratio of -86.66, a price-to-earnings-growth ratio of 2.07 and a beta of 0.87. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.77.

Centerspace (NYSE:CSR) last posted its quarterly earnings data on Monday, April 29th. The company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of $1.12 by ($1.49). Centerspace had a negative net margin of 2.38% and a negative return on equity of 0.73%. The business had revenue of $64.51 million for the quarter, compared to the consensus estimate of $65.30 million. During the same quarter last year, the business posted $1.07 EPS. On average, equities analysts forecast that Centerspace will post 4.75 EPS for the current fiscal year.

Centerspace Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 8th. Shareholders of record on Thursday, March 28th were paid a $0.75 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $3.00 dividend on an annualized basis and a yield of 4.33%. This is an increase from Centerspace’s previous quarterly dividend of $0.73. Centerspace’s payout ratio is -375.00%.

Insider Activity

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

Institutional Investors Weigh In On Centerspace

A number of large investors have recently bought and sold shares of the business. Asset Management One Co. Ltd. boosted its stake in shares of Centerspace by 1.3% during the 4th quarter. Asset Management One Co. Ltd. now owns 23,023 shares of the company’s stock worth $1,366,000 after acquiring an additional 301 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Centerspace by 3.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 247,845 shares of the company’s stock worth $14,935,000 after buying an additional 9,179 shares during the period. Dark Forest Capital Management LP acquired a new position in Centerspace in the 3rd quarter valued at $549,000. Jackson Creek Investment Advisors LLC bought a new position in Centerspace in the 4th quarter worth $1,025,000. Finally, Panagora Asset Management Inc. acquired a new stake in shares of Centerspace in the third quarter valued at about $886,000. 79.00% of the stock is currently owned by institutional investors.

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.