Brokerages Set Centerspace (NYSE:CSR) Target Price at $65.57

Shares of Centerspace (NYSE:CSR) have earned a consensus rating of “Moderate Buy” from the seven ratings firms that are presently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $65.57.

Several research analysts recently weighed in on CSR shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $63.00 target price on shares of Centerspace in a research report on Friday, March 22nd. Piper Sandler reaffirmed a “neutral” rating and issued a $63.00 target price on shares of Centerspace in a research report on Tuesday, March 26th.

Insider Activity

In other Centerspace news, Director John A. Schissel bought 500 shares of the stock in a transaction dated Monday, March 11th. The stock was bought at an average cost of $56.40 per share, for a total transaction of $28,200.00. Following the completion of the purchase, the director now directly owns 9,522 shares of the company’s stock, valued at $537,040.80. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.86% of the company’s stock.

Hedge Funds Weigh In On Centerspace

Hedge funds have recently bought and sold shares of the company. Lazard Asset Management LLC acquired a new position in Centerspace in the fourth quarter worth about $27,000. Tower Research Capital LLC TRC boosted its stake in Centerspace by 82.7% in the third quarter. Tower Research Capital LLC TRC now owns 740 shares of the company’s stock valued at $45,000 after acquiring an additional 335 shares during the period. Captrust Financial Advisors acquired a new position in Centerspace in the second quarter valued at approximately $46,000. ICA Group Wealth Management LLC acquired a new position in Centerspace in the fourth quarter valued at approximately $55,000. Finally, Russell Investments Group Ltd. acquired a new position in Centerspace in the first quarter valued at approximately $66,000. 79.00% of the stock is currently owned by institutional investors and hedge funds.

Centerspace Price Performance

CSR stock opened at $62.57 on Tuesday. Centerspace has a 52-week low of $46.74 and a 52-week high of $66.99. The stock’s fifty day simple moving average is $56.92 and its 200-day simple moving average is $55.61. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.74. The stock has a market capitalization of $931.67 million, a price-to-earnings ratio of 26.85, a price-to-earnings-growth ratio of 1.87 and a beta of 0.93.

Centerspace Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 8th. Shareholders of record on Thursday, March 28th were given a $0.75 dividend. The ex-dividend date was Wednesday, March 27th. This is a positive change from Centerspace’s previous quarterly dividend of $0.73. This represents a $3.00 annualized dividend and a yield of 4.79%. Centerspace’s dividend payout ratio (DPR) is 128.76%.

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.