Analysts Set Centerspace (NYSE:CSR) Price Target at $75.33

Shares of Centerspace (NYSE:CSR) have been given a consensus recommendation of “Hold” by the six ratings firms that are presently covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $75.33.

Several research analysts have issued reports on the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $76.00 price objective on shares of Centerspace in a research report on Wednesday, October 30th. Raymond James cut Centerspace from an “outperform” rating to a “market perform” rating in a research report on Monday, October 21st. Finally, Wedbush began coverage on Centerspace in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $72.00 price target for the company.

Centerspace Price Performance

Centerspace stock opened at $60.71 on Friday. Centerspace has a 12 month low of $52.26 and a 12 month high of $76.16. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.05 and a quick ratio of 0.05. The business has a 50 day simple moving average of $69.00 and a 200-day simple moving average of $70.54. The stock has a market capitalization of $1.01 billion, a PE ratio of -37.71, a price-to-earnings-growth ratio of 2.04 and a beta of 0.91.

Centerspace (NYSE:CSR) last released its quarterly earnings results on Monday, October 28th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate of $1.17 by ($1.57). Centerspace had a negative return on equity of 1.72% and a negative net margin of 5.57%. The company had revenue of $65.03 million for the quarter, compared to analysts’ expectations of $66.35 million. During the same quarter last year, the company earned $1.20 EPS. Equities analysts predict that Centerspace will post 4.86 earnings per share for the current year.

Centerspace Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Monday, December 30th were paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 4.94%. The ex-dividend date of this dividend was Monday, December 30th. Centerspace’s dividend payout ratio is currently -186.34%.

Hedge Funds Weigh In On Centerspace

Several hedge funds and other institutional investors have recently modified their holdings of the company. Wellington Management Group LLP lifted its stake in shares of Centerspace by 6.4% in the 3rd quarter. Wellington Management Group LLP now owns 1,019,353 shares of the company’s stock valued at $71,834,000 after purchasing an additional 61,394 shares in the last quarter. State Street Corp raised its holdings in shares of Centerspace by 0.5% during the 3rd quarter. State Street Corp now owns 897,749 shares of the company’s stock valued at $63,931,000 after buying an additional 4,263 shares during the period. Geode Capital Management LLC raised its holdings in shares of Centerspace by 3.1% during the 3rd quarter. Geode Capital Management LLC now owns 387,517 shares of the company’s stock valued at $27,314,000 after buying an additional 11,749 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Centerspace by 9.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 275,511 shares of the company’s stock valued at $19,415,000 after buying an additional 23,839 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Centerspace by 6.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 223,770 shares of the company’s stock valued at $15,134,000 after buying an additional 14,440 shares during the period. 79.00% of the stock is 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.