Centerspace (NYSE:CSR) Trading 12.7% Higher After Analyst Upgrade

Centerspace (NYSE:CSR - Get Free Report)'s share price rose 12.7% during trading on Tuesday after UBS Group raised their price target on the stock from $60.00 to $63.00. UBS Group currently has a neutral rating on the stock. Centerspace traded as high as $66.78 and last traded at $66.2130. Approximately 241,922 shares traded hands during mid-day trading, an increase of 128% from the average daily volume of 106,017 shares. The stock had previously closed at $58.74.

CSR has been the subject of a number of other reports. Piper Sandler decreased their price objective on Centerspace from $68.00 to $66.00 and set a "neutral" rating for the company in a report on Monday. Wells Fargo & Company lowered their price objective on Centerspace from $68.00 to $60.00 and set an "equal weight" rating for the company in a research report on Wednesday, August 27th. Weiss Ratings upgraded Centerspace from a "sell (d+)" rating to a "hold (c)" rating in a report on Friday. Wall Street Zen raised Centerspace from a "sell" rating to a "hold" rating in a report on Saturday. Finally, Cantor Fitzgerald started coverage on shares of Centerspace in a research note on Wednesday, October 1st. They set a "neutral" rating and a $62.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $68.11.

Read Our Latest Stock Analysis on Centerspace

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Amalgamated Bank boosted its holdings in Centerspace by 4.1% during the third quarter. Amalgamated Bank now owns 4,927 shares of the company's stock worth $290,000 after buying an additional 194 shares in the last quarter. State of Tennessee Department of Treasury raised its position in shares of Centerspace by 3.7% during the 2nd quarter. State of Tennessee Department of Treasury now owns 6,877 shares of the company's stock valued at $414,000 after buying an additional 247 shares during the period. Capital Square LLC increased its position in shares of Centerspace by 3.3% during the second quarter. Capital Square LLC now owns 8,367 shares of the company's stock valued at $503,000 after acquiring an additional 271 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Centerspace by 2.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,790 shares of the company's stock valued at $958,000 after buying an additional 287 shares during the period. Finally, Hsbc Holdings PLC raised its stake in shares of Centerspace by 2.2% in the first quarter. Hsbc Holdings PLC now owns 13,863 shares of the company's stock valued at $898,000 after acquiring an additional 294 shares in the last quarter. Institutional investors and hedge funds own 79.00% of the company's stock.

Centerspace Stock Performance

The stock's 50-day simple moving average is $59.09 and its 200 day simple moving average is $59.62. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.05 and a current ratio of 0.05. The company has a market capitalization of $1.10 billion, a PE ratio of -36.75 and a beta of 0.75.

Centerspace (NYSE:CSR - Get Free Report) last released its quarterly earnings data on Monday, November 3rd. The company reported $1.19 earnings per share for the quarter, missing the consensus estimate of $1.22 by ($0.03). The firm had revenue of $71.40 million during the quarter, compared to analysts' expectations of $69.07 million. Centerspace had a negative net margin of 9.13% and a negative return on equity of 2.81%. Centerspace has set its FY 2025 guidance at 4.880-4.960 EPS. As a group, research analysts expect that Centerspace will post 4.94 earnings per share for the current fiscal year.

Centerspace Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Monday, September 29th were paid a dividend of $0.77 per share. The ex-dividend date of this dividend was Monday, September 29th. This represents a $3.08 annualized dividend and a yield of 4.7%. Centerspace's dividend payout ratio (DPR) is presently 172.07%.

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.

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