Centerspace (NYSE:CSR) Receives $73.63 Average Price Target from Brokerages

Centerspace (NYSE:CSR) has earned a consensus rating of “Hold” from the eight brokerages that are covering the stock, MarketBeat reports. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $73.63.

Several brokerages recently commented on CSR. Janney Montgomery Scott upgraded Centerspace from a “neutral” rating to a “buy” rating and set a $72.00 target price on the stock in a report on Wednesday, January 15th. Royal Bank of Canada upped their target price on Centerspace from $72.00 to $73.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Wedbush initiated coverage on shares of Centerspace in a research note on Tuesday, December 17th. They set a “neutral” rating and a $72.00 target price on the stock. Finally, 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 on the stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Summit Investment Advisors Inc. lifted its stake in shares of Centerspace by 15.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 1,732 shares of the company’s stock valued at $115,000 after buying an additional 229 shares in the last quarter. California State Teachers Retirement System grew its stake in Centerspace by 1.9% in the 4th quarter. California State Teachers Retirement System now owns 14,401 shares of the company’s stock valued at $953,000 after buying an additional 268 shares in the last quarter. Yousif Capital Management LLC raised its holdings in Centerspace by 4.6% during the 4th quarter. Yousif Capital Management LLC now owns 6,226 shares of the company’s stock valued at $412,000 after acquiring an additional 276 shares during the period. Oregon Public Employees Retirement Fund lifted its holdings in Centerspace by 8.4% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,861 shares of the company’s stock worth $255,000 after purchasing an additional 300 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of Centerspace by 370.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 381 shares of the company’s stock worth $25,000 after buying an additional 300 shares in the last quarter. 79.00% of the stock is currently owned by hedge funds and other institutional investors.

Centerspace Trading Down 1.5 %

Shares of Centerspace stock opened at $63.72 on Thursday. The firm has a market capitalization of $1.07 billion, a PE ratio of -50.17 and a beta of 0.91. The company has a current ratio of 0.04, a quick ratio of 0.05 and a debt-to-equity ratio of 0.74. The firm’s 50 day moving average is $63.18 and its 200 day moving average is $67.37. Centerspace has a 1 year low of $54.90 and a 1 year high of $76.16.

Centerspace (NYSE:CSR) last issued its earnings results on Tuesday, February 18th. The company reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $1.36. Centerspace had a negative return on equity of 1.34% and a negative net margin of 4.34%. The business had revenue of $66.41 million during the quarter, compared to analysts’ expectations of $65.96 million. Equities research analysts forecast that Centerspace will post 4.94 earnings per share for the current fiscal year.

Centerspace Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 8th. Stockholders of record on Friday, March 28th will be issued a $0.77 dividend. The ex-dividend date is Friday, March 28th. This is a positive change from Centerspace’s previous quarterly dividend of $0.75. This represents a $3.08 annualized dividend and a dividend yield of 4.83%. Centerspace’s dividend payout ratio is currently -242.52%.

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.