Centerspace (NYSE:CSR) Price Target Raised to $64.00

Centerspace (NYSE:CSR) had its target price raised by Piper Sandler from $63.00 to $64.00 in a research report released on Monday, Benzinga reports. The firm currently has a neutral rating on the stock.

CSR has been the topic of a number of other reports. Compass Point lowered shares of Centerspace from a buy rating to a neutral rating and raised their target price for the company from $65.00 to $68.00 in a research note on Friday, May 3rd. Royal Bank of Canada raised their price target on Centerspace from $66.00 to $68.00 and gave the company an outperform rating in a research report on Wednesday, May 1st. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Hold and an average target price of $66.33.

Centerspace Price Performance

Shares of NYSE:CSR opened at $68.74 on Monday. The stock has a market capitalization of $1.02 billion, a P/E ratio of -87.55, a P/E/G ratio of 2.07 and a beta of 0.87. The business has a 50-day moving average of $59.83 and a two-hundred day moving average of $56.48. Centerspace has a fifty-two week low of $46.74 and a fifty-two week high of $70.68. 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 data on Monday, April 29th. The company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of $1.12 by ($1.49). The company had revenue of $64.51 million during the quarter, compared to the consensus estimate of $65.30 million. Centerspace had a negative net margin of 2.38% and a negative return on equity of 0.73%. During the same period in the previous year, the business posted $1.07 earnings per share. On average, equities research analysts predict that Centerspace will post 4.75 EPS for the current fiscal year.

Centerspace Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 8th. Investors of record on Thursday, March 28th were paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 4.36%. This is a positive change from Centerspace’s previous quarterly dividend of $0.73. The ex-dividend date was Wednesday, March 27th. Centerspace’s payout ratio is currently -375.00%.

Insiders Place Their Bets

In other news, Director John A. Schissel bought 500 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was acquired at an average cost of $56.40 per share, for a total transaction of $28,200.00. Following the completion of the purchase, the director now owns 9,522 shares of the company’s stock, valued at approximately $537,040.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.92% of the company’s stock.

Institutional Trading of Centerspace

Several institutional investors have recently made changes to their positions in the business. Westwood Holdings Group Inc. acquired a new stake in Centerspace during the fourth quarter valued at approximately $5,238,000. Cbre Investment Management Listed Real Assets LLC bought a new position in shares of Centerspace during the 4th quarter worth approximately $1,708,000. Panagora Asset Management Inc. boosted its stake in Centerspace by 181.8% in the 4th quarter. Panagora Asset Management Inc. now owns 41,413 shares of the company’s stock valued at $2,410,000 after buying an additional 26,716 shares in the last quarter. Jackson Creek Investment Advisors LLC bought a new stake in Centerspace in the fourth quarter valued at $1,025,000. Finally, Centersquare Investment Management LLC acquired a new position in Centerspace during the fourth quarter worth $681,000. 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.