Centerspace (NYSE:CSR) Receives $73.30 Consensus PT from Brokerages

Centerspace (NYSE:CSR - Get Free Report) has been given an average rating of "Moderate Buy" by the ten analysts that are currently covering the firm, MarketBeat reports. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $71.70.

A number of equities analysts recently weighed in on the company. Wells Fargo & Company started coverage on Centerspace in a report on Wednesday, March 19th. They set an "equal weight" rating and a $68.00 price objective on the stock. Raymond James raised shares of Centerspace from a "market perform" rating to an "outperform" rating and set a $66.00 price objective for the company in a research note on Monday. UBS Group began coverage on shares of Centerspace in a research report on Monday, April 7th. They set a "neutral" rating and a $67.00 price target for the company. Janney Montgomery Scott upgraded Centerspace from a "neutral" rating to a "buy" rating and set a $72.00 price objective on the stock in a report on Wednesday, January 15th. Finally, Royal Bank of Canada raised their price target on Centerspace from $72.00 to $73.00 and gave the stock an "outperform" rating in a research report on Thursday, February 20th.

Centerspace Price Performance

Shares of NYSE CSR traded down $0.08 during midday trading on Monday, hitting $59.81. 44,318 shares of the company's stock were exchanged, compared to its average volume of 111,115. 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 business's fifty day moving average price is $62.25 and its two-hundred day moving average price is $65.59. The company has a market cap of $1.00 billion, a price-to-earnings ratio of -47.09 and a beta of 0.79. Centerspace has a 12-month low of $54.13 and a 12-month high of $76.16.

Centerspace (NYSE:CSR - Get Free Report) last posted its quarterly earnings data 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. The company had revenue of $66.41 million during the quarter, compared to the consensus estimate of $65.96 million. Centerspace had a negative net margin of 4.34% and a negative return on equity of 1.34%. As a group, research analysts forecast that Centerspace will post 4.94 EPS for the current fiscal year.

Centerspace Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 8th. Investors of record on Friday, March 28th were given a dividend of $0.77 per share. The ex-dividend date of this dividend was 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 5.15%. Centerspace's payout ratio is currently -242.52%.

Institutional Trading of Centerspace

Several hedge funds and other institutional investors have recently made changes to their positions in CSR. JPMorgan Chase & Co. raised its holdings in Centerspace by 25.6% in the third quarter. JPMorgan Chase & Co. now owns 193,242 shares of the company's stock worth $13,618,000 after buying an additional 39,380 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Centerspace by 3.1% during the third quarter. Geode Capital Management LLC now owns 387,517 shares of the company's stock valued at $27,314,000 after acquiring an additional 11,749 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Centerspace by 11.6% in the 4th quarter. Principal Financial Group Inc. now owns 90,753 shares of the company's stock worth $6,003,000 after acquiring an additional 9,415 shares during the last quarter. Intech Investment Management LLC lifted its position in Centerspace by 76.8% in the 4th quarter. Intech Investment Management LLC now owns 10,108 shares of the company's stock valued at $669,000 after acquiring an additional 4,391 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Centerspace during the 4th quarter valued at $417,000. 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.