Analysts Set Centerspace (NYSE:CSR) Price Target at $71.56

Centerspace (NYSE:CSR) has earned a consensus recommendation of “Moderate Buy” from the nine ratings firms that are presently covering the company, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $71.56.

CSR has been the topic of a number of research analyst reports. Royal Bank of Canada raised their price objective on shares of Centerspace from $71.00 to $72.00 and gave the company an “outperform” rating in a research note on Monday, May 5th. Wells Fargo & Company initiated coverage on shares of Centerspace in a research note on Wednesday, March 19th. They set an “equal weight” rating and a $68.00 price objective on the stock. UBS Group initiated coverage on shares of Centerspace in a research note on Monday, April 7th. They set a “neutral” rating and a $67.00 price objective on the stock. Piper Sandler lowered their price objective on shares of Centerspace from $75.00 to $68.00 and set a “neutral” rating on the stock in a research note on Monday, May 5th. Finally, BMO Capital Markets upgraded shares of Centerspace from a “market perform” rating to an “outperform” rating and set a $77.00 price objective on the stock in a research note on Friday, April 4th.

Centerspace Stock Performance

CSR opened at $63.26 on Friday. The business’s 50 day moving average is $60.93 and its 200-day moving average is $64.38. The stock has a market cap of $1.06 billion, a PE ratio of -49.81 and a beta of 0.77. The company has a current ratio of 0.04, a quick ratio of 0.05 and a debt-to-equity ratio of 0.74. Centerspace has a twelve month low of $54.13 and a twelve month high of $76.16.

Centerspace (NYSE:CSR) last released its quarterly earnings results on Thursday, May 1st. The company reported $1.21 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.21. The company had revenue of $67.09 million for the quarter, compared to analysts’ expectations of $66.70 million. Centerspace had a negative return on equity of 1.34% and a negative net margin of 4.34%. On average, analysts predict that Centerspace will post 4.94 earnings per share for the current year.

Centerspace Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 8th. Shareholders of record on Friday, March 28th were given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 4.87%. This is a boost from Centerspace’s previous quarterly dividend of $0.75. The ex-dividend date was Friday, March 28th. Centerspace’s payout ratio is presently -275.00%.

Hedge Funds Weigh In On Centerspace

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC grew its position in Centerspace by 370.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 381 shares of the company’s stock worth $25,000 after purchasing an additional 300 shares in the last quarter. Sterling Capital Management LLC boosted its stake in shares of Centerspace by 903.8% during the 4th quarter. Sterling Capital Management LLC now owns 522 shares of the company’s stock valued at $35,000 after buying an additional 470 shares during the period. KBC Group NV boosted its stake in shares of Centerspace by 75.9% during the 4th quarter. KBC Group NV now owns 1,080 shares of the company’s stock valued at $71,000 after buying an additional 466 shares during the period. New Age Alpha Advisors LLC acquired a new stake in shares of Centerspace during the 1st quarter valued at $86,000. Finally, Summit Investment Advisors Inc. boosted its stake in shares of Centerspace by 15.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 1,732 shares of the company’s stock valued at $115,000 after buying an additional 229 shares during the period. 79.00% of the stock is currently owned by hedge funds and other institutional investors.

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.