Centerspace (NYSE:CSR) Stock Price Down 2.6% – Should You Sell?

Centerspace (NYSE:CSR) fell 2.6% on Monday . The company traded as low as $63.87 and last traded at $63.87. 1,524 shares traded hands during mid-day trading, a decline of 96% from the average session volume of 40,026 shares. The stock had previously closed at $65.56.

Analyst Ratings Changes

CSR has been the topic of several analyst reports. Wedbush initiated coverage on shares of Centerspace in a research report on Tuesday, December 17th. They set a “neutral” rating and a $72.00 target price on the stock. Raymond James cut shares of Centerspace from an “outperform” rating to a “market perform” rating in a report on Monday, October 21st. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $76.00 target price on shares of Centerspace in a research note on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $75.33.

Centerspace Trading Down 3.4 %

The company has a market cap of $1.05 billion, a price-to-earnings ratio of -39.34, a price-to-earnings-growth ratio of 2.04 and a beta of 0.91. The company’s fifty day moving average price is $69.95 and its two-hundred day moving average price is $70.81. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.70.

Centerspace (NYSE:CSR) last announced its quarterly earnings results on Monday, October 28th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.17 by ($1.57). Centerspace had a negative net margin of 5.57% and a negative return on equity of 1.72%. The firm had revenue of $65.03 million during the quarter, compared to analyst estimates of $66.35 million. During the same period last year, the firm earned $1.20 EPS. Research analysts expect that Centerspace will post 4.86 earnings per share for the current year.

Centerspace Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Monday, December 30th will be paid a dividend of $0.75 per share. The ex-dividend date of this dividend is Monday, December 30th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 4.74%. Centerspace’s dividend payout ratio is -186.34%.

Hedge Funds Weigh In On Centerspace

Large investors have recently modified their holdings of the business. Geode Capital Management LLC grew its position in shares of Centerspace by 3.1% during the 3rd 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 in the last quarter. Captrust Financial Advisors acquired a new position in shares of Centerspace during the 3rd quarter worth approximately $234,000. Principal Financial Group Inc. grew its position in shares of Centerspace by 3.6% during the 3rd quarter. Principal Financial Group Inc. now owns 81,338 shares of the company’s stock worth $5,732,000 after purchasing an additional 2,852 shares in the last quarter. Intech Investment Management LLC acquired a new position in shares of Centerspace during the 3rd quarter worth approximately $403,000. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Centerspace by 9.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 275,511 shares of the company’s stock worth $19,415,000 after purchasing an additional 23,839 shares in the last quarter. 79.00% of the stock is currently 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.