Centerspace (NYSE:CSR) PT Raised to $64.00 at Piper Sandler

Centerspace (NYSE:CSR) had its target price increased by Piper Sandler from $63.00 to $64.00 in a research note released on Monday, Benzinga reports. They currently have a neutral rating on the stock.

Other research analysts also recently issued research reports about the stock. Compass Point downgraded shares of Centerspace from a buy rating to a neutral rating and upped their price target for the stock from $65.00 to $68.00 in a research report on Friday, May 3rd. Royal Bank of Canada boosted their price objective on Centerspace from $66.00 to $68.00 and gave the stock an outperform rating in a research note on Wednesday, May 1st. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of $66.33.

Centerspace Stock Down 1.9 %

Shares of CSR opened at $68.74 on Monday. The firm has a market cap of $1.02 billion, a P/E ratio of -87.55, a PEG ratio of 2.07 and a beta of 0.87. Centerspace has a 12 month low of $46.74 and a 12 month high of $70.68. The stock’s 50 day moving average is $59.83 and its two-hundred day moving average is $56.48. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.77.

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

Centerspace Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 8th. Investors of record on Thursday, March 28th were paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 4.36%. The ex-dividend date of this dividend was Wednesday, March 27th. This is a boost from Centerspace’s previous quarterly dividend of $0.73. Centerspace’s dividend payout ratio is currently -375.00%.

Insider Buying and Selling at Centerspace

In related news, Director John A. Schissel bought 500 shares of the stock in a transaction dated Monday, March 11th. The shares were acquired at an average cost of $56.40 per share, for a total transaction of $28,200.00. Following the acquisition, the director now directly owns 9,522 shares in the company, valued at approximately $537,040.80. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.92% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Westwood Holdings Group Inc. purchased a new stake in shares of Centerspace in the fourth quarter valued at about $5,238,000. Cbre Investment Management Listed Real Assets LLC acquired a new position in Centerspace in the 4th quarter valued at about $1,708,000. Panagora Asset Management Inc. grew its stake in shares of Centerspace by 181.8% in the 4th quarter. Panagora Asset Management Inc. now owns 41,413 shares of the company’s stock valued at $2,410,000 after buying an additional 26,716 shares during the period. Jackson Creek Investment Advisors LLC acquired a new stake in shares of Centerspace during the 4th quarter worth approximately $1,025,000. Finally, Centersquare Investment Management LLC purchased a new stake in shares of Centerspace during the 4th quarter valued at approximately $681,000. Hedge funds and other institutional investors own 79.00% of the company’s stock.

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.