Centerspace (NYSE:CSR) Hits New 12-Month High at $75.76

Centerspace (NYSE:CSR) shares hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $75.76 and last traded at $75.43, with a volume of 8214 shares changing hands. The stock had previously closed at $75.00.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Piper Sandler increased their target price on shares of Centerspace from $64.00 to $75.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Raymond James increased their target price on shares of Centerspace from $75.00 to $82.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. BTIG Research increased their target price on shares of Centerspace from $69.00 to $79.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Finally, Royal Bank of Canada upped their price target on shares of Centerspace from $72.00 to $73.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $72.29.

Centerspace Stock Down 0.3 %

The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.79. The company has a market capitalization of $1.12 billion, a PE ratio of -93.75, a price-to-earnings-growth ratio of 2.21 and a beta of 0.90. The business’s 50 day simple moving average is $71.15 and its 200 day simple moving average is $65.71.

Centerspace (NYSE:CSR) last posted its quarterly earnings data on Monday, July 29th. The company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of $1.20 by ($1.39). The firm had revenue of $65.04 million for the quarter, compared to analysts’ expectations of $65.90 million. Centerspace had a negative net margin of 2.16% and a negative return on equity of 0.67%. During the same period in the prior year, the company posted $1.28 earnings per share. As a group, analysts forecast that Centerspace will post 4.83 EPS for the current year.

Centerspace Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Monday, September 30th will be given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 4.01%. The ex-dividend date of this dividend is Monday, September 30th. Centerspace’s dividend payout ratio (DPR) is -375.00%.

Institutional Trading of Centerspace

A number of hedge funds have recently made changes to their positions in the stock. Rothschild Investment LLC acquired a new position in Centerspace in the second quarter worth approximately $42,000. Van ECK Associates Corp increased its holdings in Centerspace by 19.7% in the fourth quarter. Van ECK Associates Corp now owns 2,118 shares of the company’s stock worth $123,000 after buying an additional 348 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in Centerspace in the first quarter worth approximately $173,000. Victory Capital Management Inc. acquired a new position in Centerspace in the second quarter worth approximately $209,000. Finally, XTX Topco Ltd acquired a new position in Centerspace in the second quarter worth approximately $303,000. 79.00% of the stock is 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.