Centerspace (NYSE:CSR) Receives $72.29 Average Price Target from Analysts

Shares of Centerspace (NYSE:CSR) have earned a consensus rating of “Moderate Buy” from the six analysts that are currently covering the firm, MarketBeat Ratings 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 1-year price target among brokers that have covered the stock in the last year is $72.29.

Several research firms have recently issued reports on CSR. Piper Sandler raised their price objective on Centerspace from $64.00 to $75.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. BTIG Research raised their target price on Centerspace from $69.00 to $79.00 and gave the company a “buy” rating in a report on Monday, August 12th. Royal Bank of Canada boosted their price target on Centerspace from $72.00 to $73.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Finally, Raymond James increased their price objective on shares of Centerspace from $75.00 to $82.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th.

Institutional Trading of Centerspace

A number of hedge funds have recently bought and sold shares of CSR. Westwood Holdings Group Inc. acquired a new stake in shares of Centerspace during the 4th quarter worth approximately $5,238,000. Cbre Investment Management Listed Real Assets LLC acquired a new stake in Centerspace during the fourth quarter worth $1,708,000. UniSuper Management Pty Ltd increased its holdings in Centerspace by 199.4% in the 1st quarter. UniSuper Management Pty Ltd now owns 12,785 shares of the company’s stock valued at $731,000 after buying an additional 8,515 shares during the period. Boston Partners acquired a new position in shares of Centerspace in the 1st quarter valued at $545,000. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Centerspace by 5.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,191 shares of the company’s stock worth $697,000 after acquiring an additional 652 shares during the period. 79.00% of the stock is owned by institutional investors.

Centerspace Stock Up 2.7 %

CSR stock opened at $75.50 on Friday. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of -94.38, a PEG ratio of 2.15 and a beta of 0.90. The company’s 50 day moving average price is $72.02 and its 200 day moving average price is $66.66. Centerspace has a fifty-two week low of $46.74 and a fifty-two week high of $76.16. 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 (NYSE:CSR) last issued its quarterly earnings data on Monday, July 29th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($1.39). Centerspace had a negative return on equity of 0.67% and a negative net margin of 2.16%. The business had revenue of $65.04 million for the quarter, compared to analysts’ expectations of $65.90 million. During the same period in the previous year, the business posted $1.28 earnings per share. On average, equities research analysts anticipate that Centerspace will post 4.83 EPS for the current fiscal year.

Centerspace Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Monday, September 30th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.00 annualized dividend and a dividend yield of 3.97%. Centerspace’s dividend payout ratio is presently -375.00%.

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.