Analysts Set Centerspace (NYSE:CSR) Target Price at $67.57

Centerspace (NYSE:CSR) has received an average rating of “Moderate Buy” from the six brokerages that are covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $69.86.

A number of brokerages have issued reports on CSR. Compass Point cut shares of Centerspace from a “buy” rating to a “neutral” rating and raised their price objective for the company from $65.00 to $68.00 in a research note on Friday, May 3rd. Piper Sandler increased their target price on shares of Centerspace from $64.00 to $75.00 and gave the stock a “neutral” rating in a report on Wednesday. Raymond James upgraded shares of Centerspace from a “market perform” rating to an “outperform” rating and set a $75.00 target price on the stock in a report on Friday, May 24th. Finally, Royal Bank of Canada increased their target price on shares of Centerspace from $72.00 to $73.00 and gave the stock an “outperform” rating in a report on Wednesday.

Centerspace Price Performance

CSR opened at $69.83 on Thursday. Centerspace has a one year low of $46.74 and a one year high of $71.50. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.04 and a quick ratio of 0.04. The company’s 50 day simple moving average is $68.41 and its 200-day simple moving average is $62.58. The stock has a market capitalization of $1.07 billion, a P/E ratio of -87.29, a price-to-earnings-growth ratio of 2.03 and a beta of 0.88.

Centerspace (NYSE:CSR) last announced its quarterly earnings data on Monday, July 29th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.20 by ($1.39). Centerspace had a negative net margin of 2.16% and a negative return on equity of 0.67%. The business had revenue of $65.04 million during the quarter, compared to the consensus estimate of $65.90 million. During the same period in the previous year, the business posted $1.28 earnings per share. Sell-side analysts anticipate that Centerspace will post 4.86 earnings per share for the current fiscal year.

Centerspace Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 10th. Investors of record on Friday, June 28th were issued a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 4.30%. Centerspace’s payout ratio is -375.00%.

Institutional Investors Weigh In On Centerspace

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC grew its position in shares of Centerspace by 2.6% in the 4th quarter. SG Americas Securities LLC now owns 12,662 shares of the company’s stock valued at $737,000 after acquiring an additional 318 shares during the period. Asset Management One Co. Ltd. boosted its holdings in shares of Centerspace by 1.3% during the 4th quarter. Asset Management One Co. Ltd. now owns 23,023 shares of the company’s stock worth $1,366,000 after buying an additional 301 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Centerspace by 4.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,616 shares of the company’s stock worth $734,000 after buying an additional 563 shares during the period. Meeder Asset Management Inc. bought a new stake in shares of Centerspace during the 4th quarter worth about $149,000. Finally, Louisiana State Employees Retirement System bought a new stake in shares of Centerspace during the 4th quarter worth about $436,000. 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.