Centerspace Analysts Recommend “Hold” as Stock Fluctuates

Shares of Centerspace (NYSE:CSR) have been assigned a consensus rating of “Hold” by ten research firms currently monitoring the stock, according to a report from MarketBeat. Of these analysts, seven recommend holding the stock, while three suggest a buy. The average one-year price target is set at $69.67.

Several brokerages have recently updated their ratings on Centerspace. On December 1, Weiss Ratings reaffirmed a “hold (c)” rating for the company. On November 10, UBS Group raised its price target from $60.00 to $63.00 while maintaining a “neutral” rating. Additionally, Wall Street Zen upgraded its recommendation from “sell” to “hold” on November 8.

On November 17, Wells Fargo & Company increased its price target on Centerspace to $74.00, assigning an “equal weight” rating. Raymond James Financial also reaffirmed a “market perform” rating on November 12.

Current Trading Status

As of Tuesday, Centerspace stock opened at $63.91, reflecting a decline of 1.1%. The stock has experienced a twelve-month low of $52.76 and a high of $71.84. Centerspace currently holds a market capitalization of $1.07 billion, with a price-to-earnings ratio of 35.70 and a beta of 0.78. The company’s fifty-day simple moving average stands at $62.00, while the two-hundred-day average is $60.31.

Financial metrics reveal a current ratio of 0.18, a quick ratio of 0.18, and a debt-to-equity ratio of 0.96.

Recent Earnings and Dividend Announcement

Centerspace recently disclosed its quarterly earnings on November 3, reporting earnings per share (EPS) of $1.19, which fell short of the consensus estimate of $1.22 by $0.03. The company recorded a return on equity of 3.52% and a net margin of 11.14%. For fiscal year 2025, Centerspace has set a guidance range of $4.88 to $4.96 EPS. Analysts predict an average EPS of $4.94 for the current fiscal year.

In addition to earnings, Centerspace announced a quarterly dividend of $0.77 per share, scheduled for payment on January 12, 2024. Shareholders of record on December 30, 2023, will receive this dividend, which represents an annualized amount of $3.08 and a yield of 4.8%. The company’s current dividend payout ratio is notably high at 172.07%.

Founded in 1970, Centerspace is dedicated to managing apartment communities across several states, including Colorado, Minnesota, Montana, Nebraska, North Dakota, and South Dakota. As of September 30, 2023, the company owned interests in 71 apartment communities, comprising 12,785 apartment homes.

Investors and analysts will be closely monitoring Centerspace’s performance as it navigates the current market landscape.