Centerspace (NYSE:CSR) Receives $76.00 Average Price Target from Analysts

Centerspace (NYSE:CSR) has earned an average rating of “Hold” from the six brokerages that are covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $75.33.

CSR has been the subject of a number of analyst reports. Raymond James cut Centerspace from an “outperform” rating to a “market perform” rating in a report on Monday, October 21st. Wedbush began coverage on shares of Centerspace in a research note on Tuesday. They issued a “neutral” rating and a $72.00 target price for the company. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $76.00 price target on shares of Centerspace in a research note on Wednesday, October 30th.

Hedge Funds Weigh In On Centerspace

A number of institutional investors and hedge funds have recently bought and sold shares of CSR. Barclays PLC boosted its position in Centerspace by 1,553.4% in the 3rd quarter. Barclays PLC now owns 102,859 shares of the company’s stock valued at $7,249,000 after buying an additional 96,638 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Centerspace by 295.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 107,820 shares of the company’s stock valued at $7,598,000 after purchasing an additional 80,566 shares during the last quarter. Wellington Management Group LLP grew its stake in Centerspace by 6.4% during the 3rd quarter. Wellington Management Group LLP now owns 1,019,353 shares of the company’s stock valued at $71,834,000 after purchasing an additional 61,394 shares in the last quarter. Millennium Management LLC increased its holdings in Centerspace by 377.3% during the 2nd quarter. Millennium Management LLC now owns 43,604 shares of the company’s stock worth $2,949,000 after purchasing an additional 34,469 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Centerspace by 9.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 275,511 shares of the company’s stock worth $19,415,000 after purchasing an additional 23,839 shares during the last quarter. Hedge funds and other institutional investors own 79.00% of the company’s stock.

Centerspace Stock Down 1.5 %

CSR stock opened at $64.75 on Tuesday. Centerspace has a 52 week low of $52.26 and a 52 week high of $76.16. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.70. The company has a market cap of $1.07 billion, a P/E ratio of -40.22, a P/E/G ratio of 2.05 and a beta of 0.89. The company’s 50-day moving average price is $70.99 and its 200 day moving average price is $70.92.

Centerspace (NYSE:CSR) last posted its earnings results on Monday, October 28th. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of $1.17 by ($1.57). The firm had revenue of $65.03 million during the quarter, compared to analyst estimates of $66.35 million. Centerspace had a negative net margin of 5.57% and a negative return on equity of 1.72%. During the same period last year, the company posted $1.20 EPS. On average, research analysts expect 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 will be paid on Monday, January 13th. Shareholders of record on Monday, December 30th will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 4.63%. The ex-dividend date of this dividend is Monday, December 30th. Centerspace’s dividend payout ratio (DPR) is presently -186.34%.

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.