Centerspace (NYSE:CSR) Given New $82.00 Price Target at Raymond James

Centerspace (NYSE:CSR) had its price objective upped by Raymond James from $75.00 to $82.00 in a report published on Thursday morning, Benzinga reports. They currently have an outperform rating on the stock.

Several other brokerages have also recently issued reports on CSR. BTIG Research increased their price target 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. Compass Point downgraded shares of Centerspace from a buy rating to a neutral rating and boosted their price target for the stock from $65.00 to $68.00 in a research note on Friday, May 3rd. Royal Bank of Canada increased their price objective on Centerspace from $72.00 to $73.00 and gave the company an outperform rating in a research note on Wednesday, July 31st. Finally, Piper Sandler boosted their target price on Centerspace from $64.00 to $75.00 and gave the stock a neutral rating in a research note on Wednesday, July 31st. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $72.29.

Centerspace Stock Up 0.8 %

Centerspace stock opened at $75.08 on Thursday. The company has a market capitalization of $1.12 billion, a PE ratio of -93.85, a price-to-earnings-growth 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. Centerspace has a fifty-two week low of $46.74 and a fifty-two week high of $75.25. The firm has a 50 day moving average price of $70.56 and a 200 day moving average price of $65.07.

Centerspace (NYSE:CSR) last issued its quarterly earnings data on Monday, July 29th. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of $1.20 by ($1.39). Centerspace had a negative net margin of 2.16% and a negative return on equity of 0.67%. The firm had revenue of $65.04 million during the quarter, compared to analyst estimates of $65.90 million. During the same period in the previous year, the firm posted $1.28 earnings per share. Research analysts expect that Centerspace will post 4.82 earnings per share for the current year.

Centerspace Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 10th. Shareholders of record on Friday, June 28th were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 4.00%. The ex-dividend date was Friday, June 28th. Centerspace’s dividend payout ratio (DPR) is -375.00%.

Hedge Funds Weigh In On Centerspace

Several hedge funds have recently added to or reduced their stakes in CSR. Vanguard Group Inc. lifted its position in shares of Centerspace by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 2,401,497 shares of the company’s stock worth $137,222,000 after buying an additional 9,984 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Centerspace by 1.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 251,117 shares of the company’s stock valued at $14,615,000 after acquiring an additional 3,272 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Centerspace by 6.9% in the second quarter. Dimensional Fund Advisors LP now owns 223,770 shares of the company’s stock valued at $15,134,000 after acquiring an additional 14,440 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Centerspace by 0.4% during the second quarter. Bank of New York Mellon Corp now owns 139,188 shares of the company’s stock worth $9,413,000 after purchasing an additional 605 shares during the last quarter. Finally, Westwood Holdings Group Inc. increased its position in shares of Centerspace by 10.8% during the second quarter. Westwood Holdings Group Inc. now owns 99,718 shares of the company’s stock worth $6,744,000 after purchasing an additional 9,718 shares in the last quarter. 79.00% of the stock is currently owned by hedge funds and other institutional investors.

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.