Centerspace (NYSE:CSR) Shares Gap Up – Time to Buy?

Centerspace (NYSE:CSR) shares gapped up before the market opened on Wednesday . The stock had previously closed at $52.71, but opened at $57.90. Centerspace shares last traded at $58.22, with a volume of 430,837 shares changing hands.

Analyst Upgrades and Downgrades

CSR has been the topic of several research analyst reports. Wall Street Zen upgraded shares of Centerspace from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Zacks Research lowered shares of Centerspace from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 18th. Wells Fargo & Company cut their price target 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, September 1st. UBS Group increased their price target on shares of Centerspace from $66.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. Finally, BTIG Research cut shares of Centerspace from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 16th. One analyst has rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $62.80.

Centerspace Stock Performance

The company has a 50 day simple moving average of $54.97 and a 200-day simple moving average of $59.64. 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 stock has a market cap of $957.85 million, a P/E ratio of 45.28 and a beta of 0.86.

Centerspace (NYSE:CSR) last announced its quarterly earnings data on Monday, August 3rd. The company reported ($0.07) EPS for the quarter, beating 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. On average, equities analysts expect that Centerspace will post 4.67 earnings per share for the current fiscal year.

Centerspace Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 14th. Shareholders of record on Tuesday, September 29th will be given a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 5.4%. The ex-dividend date is Tuesday, September 29th. Centerspace’s dividend payout ratio (DPR) is presently 244.44%.

Insider Activity at Centerspace

In other Centerspace news, Director Rodney Jones-Tyson acquired 1,700 shares of the stock in a transaction dated Monday, June 22nd. The stock was purchased at an average cost of $55.26 per share, for a total transaction of $93,942.00. Following the acquisition, the director owned 7,877 shares in the company, valued at $435,283.02. The trade was a 27.52% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John Schissel acquired 500 shares of the stock in a transaction dated Thursday, June 18th. The stock was acquired at an average price of $54.90 per share, with a total value of $27,450.00. Following the completion of the acquisition, the director owned 17,195 shares in the company, valued at approximately $944,005.50. The trade was a 2.99% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 0.49% of the company’s stock.

Institutional Trading of Centerspace

Several institutional investors have recently added to or reduced their stakes in CSR. Sound Income Strategies LLC increased its holdings in shares of Centerspace by 67.4% in the first quarter. Sound Income Strategies LLC now owns 626 shares of the company’s stock worth $36,000 after buying an additional 252 shares during the period. Covestor Ltd grew its position in Centerspace by 57,100.0% during the 4th quarter. Covestor Ltd now owns 572 shares of the company’s stock worth $38,000 after acquiring an additional 571 shares during the last quarter. Avalon Trust Co grew its position in Centerspace by 36.3% during the 1st quarter. Avalon Trust Co now owns 709 shares of the company’s stock worth $41,000 after acquiring an additional 189 shares during the last quarter. Kestra Advisory Services LLC purchased a new position in Centerspace in the 4th quarter worth approximately $58,000. Finally, State of Wyoming purchased a new position in Centerspace in the 2nd quarter worth approximately $60,000. 79.00% of the stock is currently owned by hedge funds and other institutional investors.

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.