Centerspace (NYSE:CSR) Given New $73.00 Price Target at Royal Bank of Canada

Centerspace (NYSE:CSR) had its price target increased by Royal Bank of Canada from $72.00 to $73.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have an outperform rating on the stock.

CSR has been the topic of several other reports. Wedbush started coverage on shares of Centerspace in a report on Tuesday, December 17th. They issued a “neutral” rating and a $72.00 price objective on the stock. Janney Montgomery Scott upgraded shares of Centerspace from a “neutral” rating to a “buy” rating and set a $72.00 price target for the company in a research report on Wednesday, January 15th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $74.43.

Centerspace Stock Performance

Centerspace stock opened at $64.98 on Thursday. The firm has a 50 day simple moving average of $63.20 and a 200-day simple moving average of $69.05. The stock has a market cap of $1.08 billion, a price-to-earnings ratio of -51.17 and a beta of 0.90. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.05 and a quick ratio of 0.05. Centerspace has a 1-year low of $54.22 and a 1-year high of $76.16.

Centerspace (NYSE:CSR) last issued its quarterly earnings data on Tuesday, February 18th. The company reported $1.21 earnings per share for the quarter, topping the consensus estimate of ($0.15) by $1.36. Centerspace had a negative return on equity of 1.36% and a negative net margin of 4.34%. The company had revenue of $66.41 million during the quarter, compared to analyst estimates of $65.96 million. On average, analysts expect that Centerspace will post 4.94 EPS for the current year.

Centerspace Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 8th. Shareholders of record on Friday, March 28th will be given a $0.77 dividend. This is an increase from Centerspace’s previous quarterly dividend of $0.75. This represents a $3.08 annualized dividend and a yield of 4.74%. The ex-dividend date is Friday, March 28th. Centerspace’s payout ratio is currently -236.22%.

Institutional Trading of Centerspace

Several hedge funds have recently made changes to their positions in the business. Smartleaf Asset Management LLC increased its stake 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 buying an additional 300 shares during the period. Sterling Capital Management LLC boosted its position in Centerspace by 903.8% in 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. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Centerspace by 35.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 579 shares of the company’s stock worth $41,000 after acquiring an additional 150 shares in the last quarter. Loomis Sayles & Co. L P increased its position in shares of Centerspace by 3,131.6% during the third quarter. Loomis Sayles & Co. L P now owns 614 shares of the company’s stock worth $43,000 after acquiring an additional 595 shares during the period. Finally, KBC Group NV raised its stake in shares of Centerspace by 75.9% in the fourth quarter. KBC Group NV now owns 1,080 shares of the company’s stock valued at $71,000 after acquiring an additional 466 shares in the last quarter. Institutional investors and hedge funds own 79.00% of the company’s stock.

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.