Analysts Set Centerspace (NYSE:CSR) Price Target at $62.80

Centerspace (NYSE:CSR) has been given a consensus recommendation of “Hold” by the nine analysts that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $62.80.

CSR has been the topic of a number of analyst reports. Royal Bank Of Canada dropped their price objective on shares of Centerspace from $67.00 to $64.00 and set an “outperform” rating on the stock in a report on Wednesday, August 5th. Wells Fargo & Company reduced their target price on shares of Centerspace from $60.00 to $57.00 and set an “equal weight” rating for the company in a research note on Tuesday. Piper Sandler decreased their target price on shares of Centerspace from $60.00 to $58.00 and set a “neutral” rating for the company in a research report on Thursday, August 27th. UBS Group raised their price target on shares of Centerspace from $66.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. Finally, Zacks Research downgraded Centerspace from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 18th.

Insiders Place Their Bets

In other Centerspace news, Director Rodney Jones-Tyson purchased 1,700 shares of the stock in a transaction dated Monday, June 22nd. The shares were bought at an average cost of $55.26 per share, with a total value of $93,942.00. Following the completion of the acquisition, the director owned 7,877 shares of the company’s stock, valued at approximately $435,283.02. This trade represents a 27.52% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John A. Schissel acquired 500 shares of the business’s stock in a transaction that occurred on Thursday, June 18th. The shares were bought at an average price of $54.90 per share, for a total transaction of $27,450.00. Following the completion of the purchase, the director owned 17,195 shares of the company’s stock, valued at approximately $944,005.50. This represents a 2.99% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 0.49% of the company’s stock.

Hedge Funds Weigh In On Centerspace

Several large investors have recently bought and sold shares of the stock. Pacific Heights Asset Management LLC acquired a new stake in shares of Centerspace in the 2nd quarter worth approximately $16,857,000. Public Employees Retirement System of Ohio bought a new position in Centerspace during the 2nd quarter valued at $1,091,000. Corient Private Wealth LP bought a new position in Centerspace during the 2nd quarter valued at $574,000. Bank of America Corp DE acquired a new position in shares of Centerspace during the 2nd quarter valued at $1,041,000. Finally, Jupiter Topco LLC bought a new stake in shares of Centerspace in the 2nd quarter worth $354,000. Institutional investors and hedge funds own 79.00% of the company’s stock.

Centerspace Trading Up 0.6%

NYSE:CSR opened at $52.71 on Thursday. Centerspace has a 12-month low of $52.00 and a 12-month high of $69.61. The firm has a market capitalization of $885.00 million, a P/E ratio of 41.83 and a beta of 0.86. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.03 and a quick ratio of 0.03. The business has a 50 day simple moving average of $55.13 and a 200 day simple moving average of $59.81.

Centerspace (NYSE:CSR) last issued its earnings results on Monday, August 3rd. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.06. The firm had revenue of $65.78 million for the quarter, compared to analyst estimates of $66.29 million. Centerspace had a return on equity of 2.58% and a net margin of 7.97%.Centerspace has set its FY 2026 guidance at 4.580-4.680 EPS. Equities research analysts predict that Centerspace will post 4.67 EPS for the current year.

Centerspace Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 14th. Shareholders of record on Tuesday, September 29th will be paid a dividend of $0.77 per share. The ex-dividend date of this dividend is Tuesday, September 29th. This represents a $3.08 annualized dividend and a yield of 5.8%. Centerspace’s payout ratio is presently 244.44%.

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. Centerspace was named a Top Workplace for the fourth consecutive year in 2023 by the Minneapolis Star Tribune.