Analysts Set Centerspace (NYSE:CSR) Price Target at $73.63

Centerspace (NYSE:CSR - Get Free Report) has received an average recommendation of "Hold" from the eight brokerages that are currently covering the stock, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $73.63.

CSR has been the subject of several analyst reports. Janney Montgomery Scott upgraded shares of Centerspace from a "neutral" rating to a "buy" rating and set a $72.00 price target for the company in a report on Wednesday, January 15th. Wedbush assumed coverage on shares of Centerspace in a research note on Tuesday, December 17th. They set a "neutral" rating and a $72.00 target price for the company. Wells Fargo & Company initiated coverage on shares of Centerspace in a research note on Wednesday, March 19th. They set an "equal weight" rating and a $68.00 target price for the company. Finally, Royal Bank of Canada raised their price target on Centerspace from $72.00 to $73.00 and gave the company an "outperform" rating in a research note on Thursday, February 20th.

Centerspace Stock Down 1.5 %

Shares of NYSE CSR traded down $0.95 during mid-day trading on Thursday, hitting $63.72. The company had a trading volume of 90,232 shares, compared to its average volume of 110,446. The company has a market capitalization of $1.07 billion, a PE ratio of -50.17 and a beta of 0.91. The business's 50-day simple moving average is $63.18 and its 200 day simple moving average is $67.33. Centerspace has a 1-year low of $54.90 and a 1-year high of $76.16. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.04 and a quick ratio of 0.05.

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Centerspace (NYSE:CSR - Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The company reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate 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. On average, analysts predict that Centerspace will post 4.94 earnings per share for the current year.

Centerspace Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 8th. Shareholders of record on Friday, March 28th will be paid a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 4.83%. The ex-dividend date is Friday, March 28th. This is an increase from Centerspace's previous quarterly dividend of $0.75. Centerspace's dividend payout ratio is currently -242.52%.

Hedge Funds Weigh In On Centerspace

Several hedge funds have recently made changes to their positions in CSR. Vanguard Group Inc. grew its stake in Centerspace by 8.2% during the 4th quarter. Vanguard Group Inc. now owns 2,594,366 shares of the company's stock worth $171,617,000 after buying an additional 195,629 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Centerspace by 6.4% during the third quarter. Wellington Management Group LLP now owns 1,019,353 shares of the company's stock worth $71,834,000 after acquiring an additional 61,394 shares during the last quarter. State Street Corp increased its holdings in shares of Centerspace by 0.5% in the 3rd quarter. State Street Corp now owns 897,749 shares of the company's stock valued at $63,931,000 after acquiring an additional 4,263 shares during the period. Silvercrest Asset Management Group LLC increased its holdings in shares of Centerspace by 6.9% in the 4th quarter. Silvercrest Asset Management Group LLC now owns 834,251 shares of the company's stock valued at $55,186,000 after acquiring an additional 54,204 shares during the period. Finally, Geode Capital Management LLC raised its position in Centerspace by 7.3% in the 4th quarter. Geode Capital Management LLC now owns 415,680 shares of the company's stock valued at $27,503,000 after purchasing an additional 28,163 shares during the last quarter. Hedge funds and other institutional investors own 79.00% of the company's stock.

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.