Centerspace (NYSE:CSR) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Centerspace (NYSE:CSR) have received a consensus rating of “Moderate Buy” from the seven research firms that are currently covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $65.57.

A number of research firms have weighed in on CSR. Piper Sandler reaffirmed a “neutral” rating and set a $63.00 price objective on shares of Centerspace in a research report on Tuesday, March 26th. Royal Bank of Canada reissued an “outperform” rating and issued a $63.00 price target on shares of Centerspace in a report on Friday, March 22nd.

Centerspace Stock Up 1.4 %

Centerspace stock opened at $61.58 on Tuesday. Centerspace has a twelve month low of $46.74 and a twelve month high of $66.99. The stock has a 50 day moving average of $56.42 and a two-hundred day moving average of $55.50. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.74. The stock has a market capitalization of $916.93 million, a price-to-earnings ratio of 26.43, a PEG ratio of 1.83 and a beta of 0.93.

Centerspace Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 8th. Investors of record on Thursday, March 28th were issued a dividend of $0.75 per share. The ex-dividend date was Wednesday, March 27th. This is a boost from Centerspace’s previous quarterly dividend of $0.73. This represents a $3.00 annualized dividend and a yield of 4.87%. Centerspace’s payout ratio is currently 128.76%.

Insider Buying and Selling

In related news, Director John A. Schissel purchased 500 shares of the company’s stock in a transaction on Monday, March 11th. The stock was bought at an average price of $56.40 per share, with a total value of $28,200.00. Following the completion of the transaction, the director now owns 9,522 shares of the company’s stock, valued at approximately $537,040.80. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.96% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CSR. Wellington Management Group LLP lifted its stake in shares of Centerspace by 27.8% in the first quarter. Wellington Management Group LLP now owns 1,180,660 shares of the company’s stock worth $115,846,000 after acquiring an additional 257,030 shares in the last quarter. Balyasny Asset Management L.P. lifted its stake in shares of Centerspace by 2,265.6% in the fourth quarter. Balyasny Asset Management L.P. now owns 196,561 shares of the company’s stock worth $11,440,000 after acquiring an additional 188,252 shares in the last quarter. Norges Bank acquired a new position in shares of Centerspace in the fourth quarter worth about $8,194,000. State Street Corp lifted its stake in shares of Centerspace by 15.6% in the first quarter. State Street Corp now owns 887,776 shares of the company’s stock worth $87,742,000 after acquiring an additional 119,848 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Centerspace by 191.3% in the second quarter. Goldman Sachs Group Inc. now owns 177,938 shares of the company’s stock worth $10,918,000 after acquiring an additional 116,854 shares in the last quarter. 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.