Shares of Centerspace (NYSE:CSR) have received a consensus rating of “Hold” from ten research firms monitoring the stock, according to data from MarketBeat. While seven analysts advocate maintaining the current position, three others suggest a buy recommendation for the company, indicating a mixed outlook among experts.
The average price target for Centerspace among analysts over the past year stands at approximately $69.67. Several brokerage firms have issued their insights recently. For instance, Weiss Ratings reaffirmed its “hold (c)” rating on December 1, 2023. Meanwhile, UBS Group increased its price objective from $60.00 to $63.00, maintaining a “neutral” stance on November 10, 2023.
Additionally, Wall Street Zen upgraded Centerspace from a “sell” to a “hold” rating on November 8, 2023. On November 17, 2023, Wells Fargo & Company raised its price target significantly from $60.00 to $74.00, assigning an “equal weight” rating. Lastly, Raymond James Financial confirmed a “market perform” rating on November 12, 2023.
Current Trading Performance
As of Tuesday, Centerspace shares opened at $63.91. The stock has experienced fluctuations over the past year, with a low of $52.76 and a high of $71.84. Centerspace has a market capitalization of $1.07 billion, a price-to-earnings ratio of 35.70, and a beta of 0.78. Its fifty-day simple moving average is $62.00, and the two-hundred-day average stands at $60.31. The company’s current ratio is 0.18, and its quick ratio is also 0.18, with a debt-to-equity ratio of 0.96.
In its most recent quarterly earnings report on November 3, 2023, Centerspace announced an earnings per share (EPS) of $1.19, falling short of the consensus estimate of $1.22 by $0.03. The company reported a return on equity of 3.52% and a net margin of 11.14%. For the fiscal year 2025, Centerspace has guided its EPS expectations to range between $4.880 and $4.960. Analysts predict an average EPS of $4.94 for the current fiscal year.
Dividend Announcement
In a recent development, Centerspace declared a quarterly dividend of $0.77 per share, set to be distributed on January 12, 2024. Shareholders who are on record as of December 30, 2023 will qualify for this dividend, which represents an annualized payout of $3.08 and a yield of 4.8%. Notably, Centerspace’s dividend payout ratio is currently 172.07%, indicating a strong commitment to returning value to shareholders despite recent earnings challenges.
Founded in 1970, Centerspace is dedicated to operating apartment communities across several states, including Colorado, Minnesota, Montana, Nebraska, North Dakota, and South Dakota. As of September 30, 2023, the company managed interests in 71 apartment communities, encompassing 12,785 apartment homes.
As analysts monitor Centerspace’s performance closely, the mixed ratings reflect a broader conversation about the company’s future potential in a competitive market.
