Brokerages Set Centerspace (NYSE:CSR) Target Price at $76.00

Centerspace (NYSE:CSR) has received a consensus recommendation of “Hold” from the six research firms that are currently covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $75.33.

A number of equities analysts recently weighed in on the stock. Raymond James lowered shares of Centerspace from an “outperform” rating to a “market perform” rating in a research note on Monday, October 21st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $76.00 price objective on shares of Centerspace in a research report on Wednesday, October 30th. Finally, Wedbush assumed coverage on Centerspace in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $72.00 target price on the stock.

Centerspace Trading Up 1.9 %

Shares of NYSE CSR opened at $66.01 on Tuesday. The stock has a market cap of $1.09 billion, a price-to-earnings ratio of -41.00, a P/E/G ratio of 2.05 and a beta of 0.89. Centerspace has a twelve month low of $52.26 and a twelve month high of $76.16. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.70. The company’s fifty day moving average is $70.91 and its 200-day moving average is $70.90.

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

Centerspace Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Monday, December 30th will be paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 4.54%. The ex-dividend date of this dividend is Monday, December 30th. Centerspace’s dividend payout ratio is currently -186.34%.

Hedge Funds Weigh In On Centerspace

Hedge funds and other institutional investors have recently made changes to their positions in the company. Captrust Financial Advisors bought a new position in shares of Centerspace in the 3rd quarter valued at about $234,000. Intech Investment Management LLC bought a new position in shares of Centerspace during the third quarter worth approximately $403,000. Charles Schwab Investment Management Inc. raised its position in shares of Centerspace by 9.5% in the third 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 in the last quarter. Millennium Management LLC grew its position in Centerspace by 377.3% during the second quarter. Millennium Management LLC now owns 43,604 shares of the company’s stock worth $2,949,000 after buying an additional 34,469 shares in the last quarter. Finally, Cerity Partners LLC bought a new position in Centerspace during the 3rd quarter worth $746,000. 79.00% of the stock is owned by institutional investors.

Centerspace Company Profile

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.