Centerspace (NYSE:CSR) Receives $67.57 Consensus PT from Analysts

Centerspace (NYSE:CSR) has been assigned an average rating of “Moderate Buy” from the six brokerages that are currently covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $67.57.

A number of research firms have commented on CSR. Compass Point cut shares of Centerspace from a “buy” rating to a “neutral” rating and raised their price target for the stock from $65.00 to $68.00 in a report on Friday, May 3rd. Royal Bank of Canada raised their price target on shares of Centerspace from $66.00 to $68.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. Piper Sandler raised their price target on shares of Centerspace from $63.00 to $64.00 and gave the stock a “neutral” rating in a report on Monday, May 6th. Finally, Raymond James upgraded shares of Centerspace from a “market perform” rating to an “outperform” rating and set a $75.00 price target for the company in a report on Friday, May 24th.

Institutional Trading of Centerspace

Hedge funds have recently added to or reduced their stakes in the stock. Invesco Ltd. raised its position in shares of Centerspace by 1.7% in the third quarter. Invesco Ltd. now owns 104,712 shares of the company’s stock valued at $6,310,000 after purchasing an additional 1,789 shares during the period. Public Employees Retirement System of Ohio raised its position in shares of Centerspace by 7.9% in the third quarter. Public Employees Retirement System of Ohio now owns 21,667 shares of the company’s stock valued at $1,306,000 after purchasing an additional 1,581 shares during the period. Ziegler Capital Management LLC raised its position in shares of Centerspace by 6.1% in the fourth quarter. Ziegler Capital Management LLC now owns 9,242 shares of the company’s stock valued at $538,000 after purchasing an additional 535 shares during the period. SG Americas Securities LLC raised its position in shares of Centerspace by 2.6% in the fourth quarter. SG Americas Securities LLC now owns 12,662 shares of the company’s stock valued at $737,000 after purchasing an additional 318 shares during the period. Finally, Asset Management One Co. Ltd. raised its position in shares of Centerspace by 1.3% in the fourth quarter. Asset Management One Co. Ltd. now owns 23,023 shares of the company’s stock valued at $1,366,000 after purchasing an additional 301 shares during the period. Institutional investors own 79.00% of the company’s stock.

Centerspace Trading Down 1.1 %

CSR opened at $67.89 on Friday. Centerspace has a twelve month low of $46.74 and a twelve month high of $71.36. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.77. The company has a fifty day moving average of $68.07 and a 200-day moving average of $60.88. The stock has a market cap of $1.01 billion, a PE ratio of -84.86, a price-to-earnings-growth ratio of 2.02 and a beta of 0.88.

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, sell-side analysts predict that Centerspace will post 4.86 EPS for the current year.

Centerspace Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 10th. Shareholders of record on Friday, June 28th will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 4.42%. The ex-dividend date is Friday, June 28th. Centerspace’s dividend payout ratio is -375.00%.

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.