Brokerages Set Centerspace (NYSE:CSR) PT at $67.57

Shares of Centerspace (NYSE:CSR) have been assigned a consensus rating of “Moderate Buy” from the six analysts that are covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $67.57.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CSR. ICA Group Wealth Management LLC purchased a new stake in Centerspace during the 4th quarter worth about $55,000. Van ECK Associates Corp grew its stake 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 buying an additional 348 shares during the period. Meeder Asset Management Inc. purchased a new position in shares of Centerspace in the 4th quarter worth $149,000. Allspring Global Investments Holdings LLC acquired a new position in Centerspace in the first quarter valued at $173,000. Finally, Daiwa Securities Group Inc. boosted its holdings in Centerspace by 4.9% in the first quarter. Daiwa Securities Group Inc. now owns 4,764 shares of the company’s stock valued at $272,000 after acquiring an additional 222 shares during the last quarter. Hedge funds and other institutional investors own 79.00% of the company’s stock.

Centerspace Trading Up 2.4 %

Shares of CSR stock opened at $68.67 on Friday. Centerspace has a 1-year low of $46.74 and a 1-year high of $71.36. The firm has a market cap of $1.02 billion, a PE ratio of -85.84, a price-to-earnings-growth ratio of 1.99 and a beta of 0.88. The company has a 50-day moving average of $67.94 and a two-hundred day moving average of $60.78. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.04 and a quick ratio of 0.04.

Centerspace (NYSE:CSR) last issued its quarterly earnings results on Monday, April 29th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.12 by ($1.49). The business had revenue of $64.51 million for the quarter, compared to analysts’ expectations of $65.30 million. Centerspace had a negative return on equity of 0.73% and a negative net margin of 2.38%. During the same quarter last year, the company earned $1.07 earnings per share. On average, analysts predict that Centerspace will post 4.86 EPS for the current year.

Centerspace Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 10th. Investors of record on Friday, June 28th will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 4.37%. The ex-dividend date is Friday, June 28th. Centerspace’s payout ratio is currently -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.