CSR
Centerspace
About: Centerspace is a real estate investment trust (REIT) that focuses on the ownership, management, acquisitions, redevelopment, and development of apartment communities. The company operates through a single reportable segment which includes the ownership, management, development, redevelopment, and acquisition of apartment communities and they conduct their corporate operations from offices in Minot, North Dakota and Minneapolis, Minnesota.
Employees: 414
0
Funds holding %
of 6,823 funds
0
Analysts bullish %
of 3 analysts
Fund manager confidence
Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)
179% more first-time investments, than exits
New positions opened: 39 | Existing positions closed: 14
84% more call options, than puts
Call options by funds: $324K | Put options by funds: $176K
16% more capital invested
Capital invested by funds: $827M [Q2] → $960M (+$132M) [Q3]
14% more funds holding
Funds holding: 167 [Q2] → 190 (+23) [Q3]
6.95% more ownership
Funds ownership: 82.34% [Q2] → 89.29% (+6.95%) [Q3]
4% more repeat investments, than reductions
Existing positions increased: 58 | Existing positions reduced: 56
Research analyst outlook
3 Wall Street Analysts provided 1 year price targets over the past 3 months
Low target
$72
15%
upside
Avg. target
$73
18%
upside
High target
$76
22%
upside
3 analyst ratings
2 positive
67%
1 neutral
33%
0 negative
0%
Janney Montgomery Scott Robert Stevenson 50% 1-year accuracy 2 / 4 met price target | 16%upside $72 | Buy Upgraded | 15 Jan 2025 |
Wedbush Richard Anderson 53% 1-year accuracy 17 / 32 met price target | 16%upside $72 | Neutral Initiated | 17 Dec 2024 |
RBC Capital Brad Heffern 46% 1-year accuracy 16 / 35 met price target | 22%upside $76 | Outperform Reiterated | 30 Oct 2024 |
Financial journalist opinion
Based on 3 articles about CSR published over the past 30 days
Positive
Seeking Alpha
18 hours ago
Centerspace: Midwestern Apartments At A Discount
Centerspace is a Midwest-focused apartment REIT trading at a discount to peers, with strong near-term AFFO/share growth prospects not priced in. CSR's clever acquisition strategy, including using OP units, allows for accretive purchases in growth markets, enhancing long-term performance. The Midwest's stable rental market and CSR's significant presence in Minneapolis and Denver contribute to its outperformance in same-store NOI growth.
Positive
Seeking Alpha
1 week ago
Apartment Rents Are Too Low
Apartment rental rates are significantly below equilibrium due to oversupply from zero interest rate policies, with rents expected to rise 10%-20% by 2027. Investment opportunities in apartment REITs are promising; current low valuations present a buying opportunity as equilibrium is restored and rents increase. Coastal, Midwestern, and Sunbelt apartment REITs, as well as Canadian REIT BSR, offer varied prospects based on regional supply/demand dynamics and management capabilities.
Neutral
Seeking Alpha
2 weeks ago
Sector Spotlight: Multifamily REITs - They Survived Until 2025!
COVID-19 led to a migration to Sunbelt cities, causing a surge in apartment rents and subsequent overbuilding, which is now stabilizing. Multifamily REITs saw a decline in valuations but are now modestly valued with a P/AFFO multiple averaging 18.3x, higher than the broader REIT market. Despite suppressed rent growth and occupancy, strong job markets and reduced new supply suggest the potential for landlords to regain pricing power.
Positive
Seeking Alpha
1 month ago
Centerspace: Attractively Valued Despite Signs Of Moderating Growth
Centerspace manages 13,014 apartments with a focus on Minnesota, Colorado, and North Dakota. Q3 2024 per share results were impacted by a capital increase to fund the redemption of the Series C preferred shares. Only 4% of all debt is variable rate, indicating limited benefits from Fed rate cuts.
Positive
Seeking Alpha
1 month ago
Property Type Round-Up From REITworld 2024
REITs are poised for growth with stabilizing interest rates, low new supply, and robust balance sheets supporting higher rents and long-term asset growth. Healthcare REITs benefit from strong senior housing demand and limited new supply, despite valuation debates and management changes at Healthcare Realty. Multifamily and single-family rental sectors show regional variability, but long-term growth driven by demographic trends.
Neutral
PRNewsWire
1 month ago
CENTERSPACE ANNOUNCES QUARTERLY DIVIDEND
MINNEAPOLIS , Dec. 2, 2024 /PRNewswire/ -- NYSE: CSR. Centerspace's Board of Trustees announced today that it has declared a regular quarterly distribution of $0.75 per share/unit, payable on January 13, 2025, to common shareholders and unitholders of record at the close of business on December 30, 2024.
Neutral
Seeking Alpha
2 months ago
Centerspace (CSR) Q3 2024 Earnings Call Transcript
Centerspace (NYSE:CSR ) Q3 2024 Earnings Conference Call October 29, 2024 10:00 AM ET Company Participants Josh Klaetsch - IR Anne Olson - President and CEO Bhairav Patel - EVP and CFO Grant Campbell - SVP, Investments Conference Call Participants Brad Heffern - RBC Capital Markets John Kim - BMO Capital Markets Connor Mitchell - Piper Sandler Cooper Clark - Wells Fargo Rob Stevenson - Janney Michael Gorman - BTIG Mason Guell - Baird Operator Hello, everyone, and welcome to the Centerspace Q3 2024 Earnings Call. My name is Ezra, and I will be your coordinator today.
Positive
Zacks Investment Research
2 months ago
Centerspace (CSR) Q3 FFO Surpass Estimates
Centerspace (CSR) came out with quarterly funds from operations (FFO) of $1.18 per share, beating the Zacks Consensus Estimate of $1.17 per share. This compares to FFO of $1.20 per share a year ago.
Neutral
PRNewsWire
2 months ago
Centerspace Reports Third Quarter 2024 Financial Results and Raises Mid-Point for 2024 Core FFO per Share Guidance
MINNEAPOLIS , Oct. 28, 2024 /PRNewswire/ -- Centerspace (NYSE: CSR) announced today its financial and operating results for the three and nine months ended September 30, 2024. The tables below show Net Income (Loss), Funds from Operations ("FFO")1, and Core FFO1, all on a per diluted share basis, for the three and nine months ended September 30, 2024; Same-Store Revenues, Expenses, and Net Operating Income ("NOI")1 over comparable periods; along with Same-Store Weighted-Average Occupancy and leasing rates for each of the three and applicable nine months ended September 30, 2024, June 30, 2024, and September 30, 2023.
Neutral
Zacks Investment Research
3 months ago
CSR or AMH: Which Is the Better Value Stock Right Now?
Investors interested in REIT and Equity Trust - Residential stocks are likely familiar with Centerspace (CSR) and American Homes 4 Rent (AMH). But which of these two stocks offers value investors a better bang for their buck right now?
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