Centerspace (NYSE:CSR) Receives $76.00 Average Target Price from Brokerages

Centerspace (NYSE:CSR) has received a consensus rating of “Hold” from the six analysts that are currently covering the company, Marketbeat reports. Four analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $75.33.

A number of research analysts recently commented on the company. Royal Bank of Canada restated an “outperform” rating and set a $76.00 price objective on shares of Centerspace in a research note on Wednesday, October 30th. Wedbush started coverage on shares of Centerspace in a report on Tuesday. They set a “neutral” rating and a $72.00 price target for the company. Finally, Raymond James cut shares of Centerspace from an “outperform” rating to a “market perform” rating in a report on Monday, October 21st.

Centerspace Price Performance

Shares of NYSE CSR opened at $64.75 on Tuesday. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of -40.22, a price-to-earnings-growth ratio of 2.05 and a beta of 0.89. Centerspace has a twelve month low of $52.26 and a twelve month high of $76.16. The business has a 50 day simple moving average of $70.99 and a 200-day simple moving average of $70.92.

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

Centerspace Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Monday, December 30th will be given 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 4.63%. Centerspace’s dividend payout ratio (DPR) is -186.34%.

Institutional Trading of Centerspace

A number of hedge funds and other institutional investors have recently modified their holdings of CSR. Mirae Asset Global Investments Co. Ltd. lifted its stake in Centerspace by 35.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 579 shares of the company’s stock valued at $41,000 after purchasing an additional 150 shares during the last quarter. Rothschild Investment LLC bought a new position in shares of Centerspace in the second quarter valued at $42,000. Loomis Sayles & Co. L P lifted its position in shares of Centerspace by 3,131.6% during the 3rd quarter. Loomis Sayles & Co. L P now owns 614 shares of the company’s stock valued at $43,000 after acquiring an additional 595 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of Centerspace by 15.2% during the 3rd quarter. Van ECK Associates Corp now owns 2,626 shares of the company’s stock worth $186,000 after acquiring an additional 347 shares in the last quarter. Finally, Versor Investments LP acquired a new position in shares of Centerspace in the 3rd quarter worth $204,000. 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.