Centerspace (NYSE:CSR) Sets New 12-Month High at $75.40

Centerspace (NYSE:CSR)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $75.40 and last traded at $74.21, with a volume of 136735 shares trading hands. The stock had previously closed at $75.03.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CSR. Piper Sandler boosted their price target on Centerspace from $64.00 to $75.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. 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 research note on Wednesday, July 31st. Compass Point downgraded shares of Centerspace from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $65.00 to $68.00 in a report on Friday, May 3rd. BTIG Research increased their target price on shares of Centerspace from $69.00 to $79.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. 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 research report on Friday, May 24th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $71.29.

Centerspace Trading Down 1.1 %

The firm has a market cap of $1.11 billion, a price-to-earnings ratio of -93.05, a PEG ratio of 2.09 and a beta of 0.88. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.04 and a current ratio of 0.04. The business has a fifty day simple moving average of $69.47 and a 200-day simple moving average of $64.08.

Centerspace (NYSE:CSR) last posted its earnings results on Monday, July 29th. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of $1.20 by ($1.39). The business had revenue of $65.04 million for the quarter, compared to analyst estimates of $65.90 million. Centerspace had a negative return on equity of 0.67% and a negative net margin of 2.16%. During the same quarter in the prior year, the business earned $1.28 earnings per share. As a group, equities analysts forecast that Centerspace will post 4.82 earnings per share for the current fiscal year.

Centerspace Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 10th. Investors of record on Friday, June 28th were given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 4.04%. The ex-dividend date was Friday, June 28th. Centerspace’s dividend payout ratio is currently -375.00%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Rothschild Investment LLC bought a new stake in Centerspace in the second quarter worth approximately $42,000. ICA Group Wealth Management LLC bought a new position in shares of Centerspace in the fourth quarter valued at approximately $55,000. Van ECK Associates Corp increased its position in shares of Centerspace by 19.7% during the 4th quarter. Van ECK Associates Corp now owns 2,118 shares of the company’s stock valued at $123,000 after purchasing an additional 348 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Centerspace during the 1st quarter valued at approximately $173,000. Finally, Victory Capital Management Inc. purchased a new stake in Centerspace in the second quarter worth $209,000. 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.