Centerspace’s (CSR) Neutral Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reissued their neutral rating on shares of Centerspace (NYSE:CSR) in a report issued on Thursday morning, MarketBeat.com reports. Cantor Fitzgerald currently has a $57.00 price target on the stock.

Several other analysts have also weighed in on CSR. Royal Bank Of Canada lowered their target price on Centerspace from $67.00 to $64.00 and set an “outperform” rating on the stock in a report on Wednesday, August 5th. BTIG Research downgraded Centerspace from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 16th. Zacks Research lowered shares of Centerspace from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 18th. Wells Fargo & Company lowered their price objective on shares of Centerspace from $60.00 to $57.00 and set an “equal weight” rating on the stock in a research note on Tuesday, September 1st. Finally, Wall Street Zen upgraded shares of Centerspace from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Two investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Centerspace currently has an average rating of “Hold” and a consensus target price of $64.33.

Centerspace Price Performance

Shares of NYSE:CSR opened at $58.24 on Thursday. The business’s 50 day simple moving average is $55.04 and its 200-day simple moving average is $59.55. The firm has a market capitalization of $977.83 million, a price-to-earnings ratio of 46.22 and a beta of 0.86. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.03 and a quick ratio of 0.03. Centerspace has a 12 month low of $52.00 and a 12 month high of $69.61.

Centerspace (NYSE:CSR) last released its quarterly earnings results on Monday, August 3rd. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.06. The business had revenue of $65.78 million for the quarter, compared to analysts’ expectations 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. As a group, equities analysts forecast that Centerspace will post 4.67 earnings per share for the current fiscal year.

Centerspace Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 14th. Shareholders of record on Tuesday, September 29th will be paid a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 5.3%. The ex-dividend date of this dividend is Tuesday, September 29th. Centerspace’s payout ratio is presently 244.44%.

Insider Buying and Selling at Centerspace

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

Hedge Funds Weigh In On Centerspace

Large investors have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new stake in Centerspace in the 2nd quarter valued at about $167,912,000. Wellington Management Group LLP lifted its holdings in shares of Centerspace by 324.4% during the 4th quarter. Wellington Management Group LLP now owns 855,869 shares of the company’s stock worth $57,104,000 after acquiring an additional 654,209 shares during the period. Long Pond Capital LP lifted its holdings in shares of Centerspace by 108.0% during the 4th quarter. Long Pond Capital LP now owns 444,101 shares of the company’s stock worth $29,630,000 after acquiring an additional 230,638 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Centerspace by 9.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 340,286 shares of the company’s stock worth $22,704,000 after acquiring an additional 28,809 shares during the period. Finally, Voss Capital LP acquired a new stake in shares of Centerspace in the fourth quarter worth approximately $22,068,000. 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. Centerspace was named a Top Workplace for the fourth consecutive year in 2023 by the Minneapolis Star Tribune.