Centerspace (NYSE:CSR) Receives $71.56 Consensus Price Target from Analysts

Shares of Centerspace (NYSE:CSR) have been assigned an average rating of “Moderate Buy” from the nine analysts that are covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $71.56.

A number of research analysts recently issued reports on the stock. Wells Fargo & Company assumed coverage on shares of Centerspace in a report on Wednesday, March 19th. They set an “equal weight” rating and a $68.00 price objective for the company. Piper Sandler decreased their price objective 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. Royal Bank Of Canada boosted their price objective on shares of Centerspace from $71.00 to $72.00 and gave the company an “outperform” rating in a report on Monday, May 5th. Raymond James Financial upgraded shares of Centerspace from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the company from $66.00 to $69.00 in a report on Thursday, May 15th. Finally, BMO Capital Markets upgraded shares of Centerspace from a “market perform” rating to an “outperform” rating and set a $77.00 price objective for the company in a report on Friday, April 4th.

Institutional Investors Weigh In On Centerspace

Large investors have recently bought and sold shares of the company. Nuveen LLC acquired a new position in Centerspace during the 1st quarter worth approximately $13,147,000. Vanguard Group Inc. boosted its position in Centerspace by 8.2% in the fourth quarter. Vanguard Group Inc. now owns 2,594,366 shares of the company’s stock valued at $171,617,000 after buying an additional 195,629 shares in the last quarter. Millennium Management LLC boosted its position in Centerspace by 307.3% in the first quarter. Millennium Management LLC now owns 184,051 shares of the company’s stock valued at $11,917,000 after buying an additional 138,861 shares in the last quarter. Allianz Asset Management GmbH acquired a new stake in Centerspace in the first quarter valued at approximately $6,388,000. Finally, Norges Bank acquired a new stake in Centerspace in the fourth quarter valued at approximately $4,768,000. 79.00% of the stock is currently owned by institutional investors and hedge funds.

Centerspace Price Performance

Shares of CSR stock opened at $59.83 on Friday. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $1.00 billion, a price-to-earnings ratio of -53.42 and a beta of 0.72. The firm’s 50 day moving average is $62.09 and its 200-day moving average is $62.21. Centerspace has a 1 year low of $54.13 and a 1 year high of $76.16.

Centerspace (NYSE:CSR) last posted its quarterly earnings results on Thursday, May 1st. The company reported $1.21 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.21. The business had revenue of $67.09 million during the quarter, compared to the consensus estimate of $66.70 million. Centerspace had a negative net margin of 4.23% and a negative return on equity of 1.30%. Sell-side analysts forecast that Centerspace will post 4.94 EPS for the current fiscal year.

Centerspace Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Friday, June 27th will be paid a dividend of $0.77 per share. The ex-dividend date of this dividend is Friday, June 27th. This represents a $3.08 dividend on an annualized basis and a yield of 5.15%. Centerspace’s payout ratio is -275.00%.

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.