Centerspace (NYSE:CSR) Hits New 52-Week High on Analyst Upgrade

Shares of Centerspace (NYSE:CSR) hit a new 52-week high during trading on Monday after Piper Sandler raised their price target on the stock from $63.00 to $64.00. Piper Sandler currently has a neutral rating on the stock. Centerspace traded as high as $70.16 and last traded at $69.83, with a volume of 7970 shares trading hands. The stock had previously closed at $68.71.

Several other research firms also recently issued reports on CSR. Royal Bank of Canada increased their target price on Centerspace from $66.00 to $68.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. Compass Point cut Centerspace from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $65.00 to $68.00 in a report on Friday, May 3rd. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $66.33.

Insider Transactions at Centerspace

In other Centerspace news, Director John A. Schissel acquired 500 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was bought at an average price of $56.40 per share, with a total value of $28,200.00. Following the completion of the purchase, the director now owns 9,522 shares of the company’s stock, valued at $537,040.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.92% of the company’s stock.

Institutional Trading of Centerspace

Several hedge funds and other institutional investors have recently bought and sold shares of CSR. Asset Management One Co. Ltd. boosted its holdings in Centerspace by 1.3% during the 4th quarter. Asset Management One Co. Ltd. now owns 23,023 shares of the company’s stock valued at $1,366,000 after acquiring an additional 301 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Centerspace by 3.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 247,845 shares of the company’s stock worth $14,935,000 after purchasing an additional 9,179 shares during the last quarter. Jackson Creek Investment Advisors LLC bought a new position in shares of Centerspace in the fourth quarter worth approximately $1,025,000. Dark Forest Capital Management LP purchased a new position in shares of Centerspace in the third quarter worth $549,000. Finally, Panagora Asset Management Inc. bought a new stake in Centerspace during the 3rd quarter valued at $886,000. Hedge funds and other institutional investors own 79.00% of the company’s stock.

Centerspace Stock Up 1.0 %

The firm has a market cap of $1.04 billion, a PE ratio of -87.55, a PEG ratio of 2.07 and a beta of 0.87. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.04 and a current ratio of 0.04. The company’s 50-day simple moving average is $59.54 and its two-hundred day simple moving average is $56.36.

Centerspace (NYSE:CSR) last issued its quarterly earnings data on Monday, April 29th. The company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of $1.12 by ($1.49). Centerspace had a negative return on equity of 0.73% and a negative net margin of 2.38%. The business had revenue of $64.51 million during the quarter, compared to the consensus estimate of $65.30 million. During the same quarter in the prior year, the business posted $1.07 earnings per share. On average, analysts predict that Centerspace will post 4.75 earnings per share for the current fiscal year.

Centerspace Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 8th. Stockholders of record on Thursday, March 28th were issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 4.28%. This is a positive change from Centerspace’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend was Wednesday, March 27th. Centerspace’s dividend payout ratio (DPR) is presently -375.00%.

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.