Centerspace (NYSE:CSR – Get Free Report) saw strong trading volume on Tuesday . 51,582 shares traded hands during mid-day trading, a decline of 49% from the previous session’s volume of 100,814 shares.The stock last traded at $73.25 and had previously closed at $74.12.
Wall Street Analyst Weigh In
A number of equities analysts have commented on the stock. Piper Sandler lifted their target price on shares of Centerspace from $64.00 to $75.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Royal Bank of Canada lifted their price target on shares of Centerspace from $72.00 to $73.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. BTIG Research increased their price objective on Centerspace from $69.00 to $79.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Finally, Raymond James raised their target price on Centerspace from $75.00 to $82.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Centerspace currently has a consensus rating of “Moderate Buy” and an average target price of $72.29.
Read Our Latest Report on Centerspace
Centerspace Trading Down 1.7 %
Centerspace (NYSE:CSR – Get Free Report) last posted its earnings results 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). The firm had revenue of $65.04 million for the quarter, compared to analyst estimates of $65.90 million. Centerspace had a negative return on equity of 0.67% and a negative net margin of 2.16%. During the same period in the previous year, the company posted $1.28 EPS. On average, analysts predict that Centerspace will post 4.83 EPS for the current fiscal year.
Centerspace Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Monday, September 30th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 4.12%. The ex-dividend date is Monday, September 30th. Centerspace’s payout ratio is currently -375.00%.
Institutional Trading of Centerspace
Several hedge funds have recently modified their holdings of CSR. Rothschild Investment LLC purchased a new position in Centerspace in the second quarter valued at $42,000. Van ECK Associates Corp increased its holdings in shares of Centerspace by 19.7% in the 4th quarter. Van ECK Associates Corp now owns 2,118 shares of the company’s stock valued at $123,000 after acquiring an additional 348 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Centerspace during the 1st quarter worth about $173,000. Victory Capital Management Inc. acquired a new stake in shares of Centerspace during the 2nd quarter worth about $209,000. Finally, XTX Topco Ltd purchased a new stake in Centerspace during the second quarter worth approximately $303,000. 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.
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