Piper Sandler Raises Centerspace (NYSE:CSR) Price Target to $75.00

Centerspace (NYSE:CSR) had its price objective increased by Piper Sandler from $64.00 to $75.00 in a report released on Wednesday morning, Benzinga reports. They currently have a neutral rating on the stock.

Several other research analysts have also recently issued reports on CSR. Royal Bank of Canada upped their price objective on Centerspace from $66.00 to $68.00 and gave the stock an outperform rating in a research report on Wednesday, May 1st. Raymond James raised Centerspace from a market perform rating to an outperform rating and set a $75.00 target price for the company in a report on Friday, May 24th. Finally, Compass Point downgraded Centerspace from a buy rating to a neutral rating and upped their price objective for the company from $65.00 to $68.00 in a research note on Friday, May 3rd. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Centerspace currently has an average rating of Moderate Buy and a consensus price target of $69.86.

Centerspace Stock Down 0.2 %

Shares of NYSE CSR opened at $70.39 on Wednesday. Centerspace has a twelve month low of $46.74 and a twelve month high of $71.50. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.79. The stock has a fifty day simple moving average of $68.54 and a 200-day simple moving average of $62.73.

Centerspace (NYSE:CSR) last released its earnings results on Monday, July 29th. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of $1.20 by ($1.39). Centerspace had a negative return on equity of 0.67% and a negative net margin of 2.16%. The company had revenue of $65.04 million for the quarter, compared to analyst estimates of $65.90 million. During the same period in the previous year, the firm earned $1.28 earnings per share. As a group, sell-side analysts expect that Centerspace will post 4.82 earnings per share for the current year.

Centerspace Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 10th. Shareholders of record on Friday, June 28th were paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 4.26%. The ex-dividend date of this dividend was Friday, June 28th. Centerspace’s dividend payout ratio is presently -375.00%.

Hedge Funds Weigh In On Centerspace

A number of large investors have recently modified their holdings of the business. Capital Square LLC raised its stake in shares of Centerspace by 18.2% during the 2nd quarter. Capital Square LLC now owns 7,339 shares of the company’s stock worth $518,000 after buying an additional 1,128 shares in the last quarter. Rothschild Investment LLC acquired a new stake in shares of Centerspace in the 2nd quarter worth approximately $42,000. Panagora Asset Management Inc. grew its holdings in shares of Centerspace by 2.6% in the 2nd quarter. Panagora Asset Management Inc. now owns 27,267 shares of the company’s stock worth $1,844,000 after acquiring an additional 694 shares during the period. Cambridge Investment Research Advisors Inc. grew its holdings in Centerspace by 2.6% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 17,401 shares of the company’s stock valued at $1,177,000 after buying an additional 446 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Centerspace by 0.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 139,188 shares of the company’s stock valued at $9,413,000 after buying an additional 605 shares during the last quarter. 79.00% of the stock is 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.