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

Shares of Centerspace (NYSE:CSR) have received an average rating of “Hold” from the eight ratings firms that are currently covering the company, Marketbeat reports. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $73.63.

Several analysts have recently commented on the company. Royal Bank of Canada raised their target price on Centerspace from $72.00 to $73.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Wedbush started coverage on Centerspace in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $72.00 price objective for the company. Wells Fargo & Company assumed coverage on Centerspace in a report on Wednesday, March 19th. They set an “equal weight” rating and a $68.00 price objective for the company. Finally, 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.

Centerspace Trading Up 2.0 %

Shares of CSR stock opened at $64.97 on Thursday. The company has a market cap of $1.09 billion, a P/E ratio of -51.16 and a beta of 0.91. Centerspace has a fifty-two week low of $54.90 and a fifty-two week high of $76.16. The stock has a 50 day simple moving average of $63.26 and a two-hundred day simple moving average of $67.27. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.05 and a current ratio of 0.04.

Centerspace (NYSE:CSR) last released its earnings results on Tuesday, February 18th. The company reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $1.36. The company had revenue of $66.41 million for 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%. Research analysts forecast that Centerspace will post 4.94 earnings per share for the current year.

Centerspace Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 8th. Investors of record on Friday, March 28th will be issued a dividend of $0.77 per share. The ex-dividend date is Friday, March 28th. This represents a $3.08 annualized dividend and a yield of 4.74%. This is an increase from Centerspace’s previous quarterly dividend of $0.75. Centerspace’s dividend payout ratio is -242.52%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Intech Investment Management LLC purchased a new stake in Centerspace in the 3rd quarter valued at about $403,000. Charles Schwab Investment Management Inc. increased its position in shares of Centerspace by 9.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 275,511 shares of the company’s stock valued at $19,415,000 after acquiring an additional 23,839 shares during the last quarter. Cerity Partners LLC purchased a new stake in shares of Centerspace during the third quarter valued at approximately $746,000. Daiwa Securities Group Inc. lifted its holdings in Centerspace by 8.0% during the third quarter. Daiwa Securities Group Inc. now owns 5,032 shares of the company’s stock worth $355,000 after acquiring an additional 372 shares during the period. Finally, Loomis Sayles & Co. L P boosted its position in Centerspace by 3,131.6% in the third quarter. Loomis Sayles & Co. L P now owns 614 shares of the company’s stock worth $43,000 after purchasing an additional 595 shares during the last quarter. 79.00% of the stock is owned by institutional investors.

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.