Centerspace (NYSE:CSR) Sets New 52-Week Low – Should You Sell?

Shares of Centerspace (NYSE:CSR) hit a new 52-week low on Wednesday . The company traded as low as $52.13 and last traded at $52.36, with a volume of 91839 shares trading hands. The stock had previously closed at $52.49.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Royal Bank Of Canada lowered their target price on shares of Centerspace from $67.00 to $64.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 5th. Weiss Ratings downgraded shares of Centerspace from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, August 19th. Piper Sandler lowered their price target on shares of Centerspace from $60.00 to $58.00 and set a “neutral” rating on the stock in a research report on Thursday, August 27th. BTIG Research cut shares of Centerspace from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 16th. Finally, Zacks Research cut shares of Centerspace from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 18th. One analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $62.80.

Centerspace Stock Performance

The stock has a 50-day moving average of $55.21 and a 200 day moving average of $59.86. The stock has a market cap of $877.61 million, a PE ratio of 41.48 and a beta of 0.86. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.87.

Centerspace (NYSE:CSR) last issued its earnings results on Monday, August 3rd. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.06. Centerspace had a return on equity of 2.58% and a net margin of 7.97%.The company had revenue of $65.78 million during the quarter, compared to analysts’ expectations of $66.29 million. Centerspace has set its FY 2026 guidance at 4.580-4.680 EPS. Equities analysts predict that Centerspace will post 4.67 EPS for the current fiscal year.

Centerspace Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 14th. Investors of record on Tuesday, September 29th will be issued a $0.77 dividend. The ex-dividend date of this dividend is Tuesday, September 29th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 5.9%. Centerspace’s dividend payout ratio is currently 244.44%.

Insider Transactions at Centerspace

In other news, Director Rodney Jones-Tyson bought 1,700 shares of Centerspace stock in a transaction on Monday, June 22nd. The shares were bought at an average cost of $55.26 per share, with a total value of $93,942.00. Following the completion of the purchase, the director directly owned 7,877 shares of the company’s stock, valued at approximately $435,283.02. This trade represents a 27.52% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John A. Schissel purchased 500 shares of the business’s stock in a transaction dated Thursday, June 18th. The shares were purchased at an average price of $54.90 per share, with a total value of $27,450.00. Following the acquisition, the director directly owned 17,195 shares in the company, valued at approximately $944,005.50. The trade was a 2.99% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 0.49% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Diamond Hill Capital Management Inc. purchased a new stake in Centerspace in the 4th quarter valued at about $3,163,000. BlackRock Inc. purchased a new stake in shares of Centerspace in the 2nd quarter valued at approximately $167,912,000. Systematic Financial Management LP lifted its holdings in shares of Centerspace by 19.7% in the 4th quarter. Systematic Financial Management LP now owns 305,533 shares of the company’s stock worth $20,385,000 after acquiring an additional 50,350 shares during the last quarter. Diamond Hill Capital Management LLC Investment Advisor acquired a new position in shares of Centerspace in the 2nd quarter worth approximately $7,009,000. Finally, ABS Investment Management LLC acquired a new position in shares of Centerspace in the 2nd quarter worth approximately $1,404,750. 79.00% of the stock is currently owned by institutional investors and hedge funds.

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. Centerspace was named a Top Workplace for the fourth consecutive year in 2023 by the Minneapolis Star Tribune.