Centerspace (NYSE:CSR) Receives $69.75 Consensus Price Target from Brokerages

Shares of Centerspace (NYSE:CSR) have earned an average rating of “Moderate Buy” from the eight brokerages that are currently covering the firm, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $68.75.

CSR has been the subject of several analyst reports. Wells Fargo & Company reduced their target price on shares of Centerspace from $68.00 to $60.00 and set an “equal weight” rating for the company in a report on Wednesday. Wall Street Zen lowered shares of Centerspace from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Piper Sandler reduced their target price on shares of Centerspace from $75.00 to $68.00 and set a “neutral” rating for the company in a report on Monday, May 5th. Raymond James Financial raised shares of Centerspace from an “outperform” rating to a “strong-buy” rating and increased their target price for the stock from $66.00 to $69.00 in a report on Thursday, May 15th. Finally, Royal Bank Of Canada increased their target price on shares of Centerspace from $71.00 to $72.00 and gave the stock an “outperform” rating in a report on Monday, May 5th.

Centerspace Price Performance

NYSE CSR opened at $58.66 on Friday. Centerspace has a 52 week low of $52.76 and a 52 week high of $76.16. The firm has a market capitalization of $982.97 million, a P/E ratio of -32.59 and a beta of 0.72. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.97. The company has a 50-day moving average price of $58.04 and a 200-day moving average price of $60.78.

Centerspace (NYSE:CSR) last released its earnings results on Monday, August 4th. The company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.02. The company had revenue of $68.55 million during the quarter, compared to analyst estimates of $67.89 million. Centerspace had a negative net margin of 9.13% and a negative return on equity of 2.81%. Centerspace has set its FY 2025 guidance at 4.880-5.000 EPS. Equities research analysts anticipate that Centerspace will post 4.94 earnings per share for the current year.

Centerspace Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 10th. Shareholders of record on Friday, June 27th were paid a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 5.3%. The ex-dividend date was Friday, June 27th. Centerspace’s dividend payout ratio is presently -171.11%.

Insiders Place Their Bets

In other Centerspace news, Director John A. Schissel purchased 500 shares of the company’s stock in a transaction on Friday, August 8th. The stock was acquired at an average cost of $54.00 per share, for a total transaction of $27,000.00. Following the purchase, the director directly owned 14,398 shares of the company’s stock, valued at $777,492. This trade represents a 3.60% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Anne Olson purchased 750 shares of the company’s stock in a transaction on Friday, August 8th. The stock was acquired at an average price of $55.10 per share, with a total value of $41,325.00. Following the completion of the purchase, the chief executive officer directly owned 19,496 shares in the company, valued at $1,074,229.60. This trade represents a 4.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 1,750 shares of company stock worth $95,325 in the last three months. 0.44% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Nuveen LLC bought a new position in shares of Centerspace during the 1st quarter valued at approximately $13,147,000. Millennium Management LLC boosted its position in shares of Centerspace by 307.3% during the 1st quarter. Millennium Management LLC now owns 184,051 shares of the company’s stock valued at $11,917,000 after acquiring an additional 138,861 shares during the last quarter. Systematic Financial Management LP bought a new position in shares of Centerspace during the 2nd quarter valued at approximately $7,662,000. Allianz Asset Management GmbH bought a new position in shares of Centerspace during the 1st quarter valued at approximately $6,388,000. Finally, Strs Ohio boosted its position in shares of Centerspace by 3,025.8% during the 2nd quarter. Strs Ohio now owns 96,900 shares of the company’s stock valued at $5,832,000 after acquiring an additional 93,800 shares during the last quarter. 79.00% of the stock is currently owned by institutional investors.

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.