Analysts Set Centerspace (NYSE:CSR) Price Target at $75.33

Shares of Centerspace (NYSE:CSR) have been assigned a consensus rating of “Hold” from the seven analysts that are covering the company, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $74.86.

CSR has been the subject of a number of research analyst reports. Janney Montgomery Scott upgraded Centerspace from a “neutral” rating to a “buy” rating and set a $72.00 price objective for the company in a research report on Wednesday. Raymond James downgraded Centerspace from an “outperform” rating to a “market perform” rating in a research note on Monday, October 21st. Wedbush initiated coverage on Centerspace in a research report on Tuesday, December 17th. They set a “neutral” rating and a $72.00 target price for the company. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $76.00 price target on shares of Centerspace in a research report on Wednesday, October 30th.

Centerspace Trading Down 0.9 %

CSR stock opened at $60.95 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.05 and a quick ratio of 0.05. Centerspace has a 1-year low of $52.26 and a 1-year high of $76.16. The business has a 50 day simple moving average of $68.17 and a two-hundred day simple moving average of $70.33. The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of -37.86, a PEG ratio of 1.74 and a beta of 0.91.

Centerspace (NYSE:CSR) last issued its earnings results on Monday, October 28th. The company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of $1.17 by ($1.57). The company had revenue of $65.03 million for the quarter, compared to the consensus estimate of $66.35 million. Centerspace had a negative return on equity of 1.72% and a negative net margin of 5.57%. During the same quarter in the prior year, the company posted $1.20 EPS. Research analysts anticipate that Centerspace will post 4.85 EPS for the current fiscal year.

Centerspace Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Monday, December 30th were issued a dividend of $0.75 per share. The ex-dividend date was Monday, December 30th. This represents a $3.00 annualized dividend and a yield of 4.92%. Centerspace’s payout ratio is -186.34%.

Institutional Trading of Centerspace

Several institutional investors have recently added to or reduced their stakes in CSR. Wellington Management Group LLP raised its holdings in shares of Centerspace by 6.4% in the third quarter. Wellington Management Group LLP now owns 1,019,353 shares of the company’s stock worth $71,834,000 after buying an additional 61,394 shares during the period. State Street Corp increased its stake in Centerspace by 0.5% in the third quarter. State Street Corp now owns 897,749 shares of the company’s stock worth $63,931,000 after purchasing an additional 4,263 shares during the period. Geode Capital Management LLC lifted its position in shares of Centerspace by 3.1% during the third quarter. Geode Capital Management LLC now owns 387,517 shares of the company’s stock worth $27,314,000 after purchasing an additional 11,749 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Centerspace by 9.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 275,511 shares of the company’s stock valued at $19,415,000 after purchasing an additional 23,839 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Centerspace by 6.9% in the second quarter. Dimensional Fund Advisors LP now owns 223,770 shares of the company’s stock worth $15,134,000 after purchasing an additional 14,440 shares during the last quarter. Institutional investors own 79.00% of the company’s stock.

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.