Royal Bank of Canada Increases Centerspace (NYSE:CSR) Price Target to $68.00

Centerspace (NYSE:CSR) had its price target upped by Royal Bank of Canada from $66.00 to $68.00 in a research note published on Wednesday, Benzinga reports. They currently have an outperform rating on the stock.

Separately, Piper Sandler reissued a neutral rating and issued a $63.00 price objective on shares of Centerspace in a research report on Tuesday, March 26th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Hold and a consensus target price of $66.17.

Centerspace Stock Performance

NYSE:CSR opened at $68.71 on Wednesday. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.04 and a quick ratio of 0.03. Centerspace has a fifty-two week low of $46.74 and a fifty-two week high of $69.97. The company has a 50 day simple moving average of $59.26 and a two-hundred day simple moving average of $56.25.

Centerspace (NYSE:CSR) last posted its quarterly earnings data on Monday, April 29th. The company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of $1.12 by ($1.49). Centerspace had a negative return on equity of 0.73% and a negative net margin of 2.38%. The firm had revenue of $64.51 million for the quarter, compared to analyst estimates of $65.30 million. During the same quarter last year, the company earned $1.07 earnings per share. On average, analysts forecast that Centerspace will post 4.75 earnings per share for the current year.

Centerspace Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 8th. Investors of record on Thursday, March 28th were paid a dividend of $0.75 per share. The ex-dividend date was Wednesday, March 27th. This is a positive change from Centerspace’s previous quarterly dividend of $0.73. This represents a $3.00 annualized dividend and a yield of 4.37%. Centerspace’s dividend payout ratio is currently -375.00%.

Insiders Place Their Bets

In other news, Director John A. Schissel bought 500 shares of Centerspace stock in a transaction dated Monday, March 11th. The stock was bought at an average cost of $56.40 per share, for a total transaction of $28,200.00. Following the purchase, the director now directly owns 9,522 shares in the company, valued at approximately $537,040.80. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.92% of the company’s stock.

Hedge Funds Weigh In On Centerspace

A number of institutional investors have recently modified their holdings of CSR. ICA Group Wealth Management LLC acquired a new stake in Centerspace in the 4th quarter valued at $55,000. Van ECK Associates Corp grew its holdings in shares of Centerspace by 19.7% during the fourth quarter. Van ECK Associates Corp now owns 2,118 shares of the company’s stock valued at $123,000 after buying an additional 348 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in shares of Centerspace during the fourth quarter worth about $149,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Centerspace during the first quarter worth about $173,000. Finally, DekaBank Deutsche Girozentrale raised its holdings in shares of Centerspace by 18.8% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 3,709 shares of the company’s stock worth $224,000 after acquiring an additional 587 shares during the last quarter. 79.00% of the stock is owned by institutional investors and hedge funds.

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.