Analysts Set Centerspace (NYSE:CSR) Price Target at $75.33

Shares of Centerspace (NYSE:CSR) have been assigned a consensus recommendation of “Hold” from the six ratings firms that are currently covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $75.33.

Several equities research analysts have issued reports on CSR shares. Royal Bank of Canada restated an “outperform” rating and set a $76.00 price objective on shares of Centerspace in a report on Wednesday, October 30th. Wedbush started coverage on Centerspace in a report on Tuesday, December 17th. They set a “neutral” rating and a $72.00 price objective on the stock. Finally, Raymond James downgraded Centerspace from an “outperform” rating to a “market perform” rating in a report on Monday, October 21st.

Institutional Investors Weigh In On Centerspace

A number of institutional investors have recently made changes to their positions in CSR. Mirae Asset Global Investments Co. Ltd. boosted its position in Centerspace by 35.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 579 shares of the company’s stock valued at $41,000 after purchasing an additional 150 shares during the period. Loomis Sayles & Co. L P boosted its position in Centerspace by 3,131.6% during the 3rd quarter. Loomis Sayles & Co. L P now owns 614 shares of the company’s stock valued at $43,000 after purchasing an additional 595 shares during the period. Van ECK Associates Corp boosted its position in Centerspace by 15.2% during the 3rd quarter. Van ECK Associates Corp now owns 2,626 shares of the company’s stock valued at $186,000 after purchasing an additional 347 shares during the period. Versor Investments LP acquired a new position in Centerspace during the 3rd quarter valued at approximately $204,000. Finally, Victory Capital Management Inc. acquired a new position in Centerspace during the 2nd quarter valued at approximately $209,000. 79.00% of the stock is currently owned by institutional investors.

Centerspace Stock Performance

Shares of NYSE:CSR opened at $60.71 on Friday. The company has a market cap of $1.01 billion, a P/E ratio of -37.71, a PEG ratio of 2.04 and a beta of 0.91. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.05 and a current ratio of 0.05. Centerspace has a one year low of $52.26 and a one year high of $76.16. The business’s 50-day simple moving average is $69.00 and its 200 day simple moving average is $70.54.

Centerspace (NYSE:CSR) last posted 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 return on equity of 1.72% and a negative net margin of 5.57%. The business had revenue of $65.03 million for the quarter, compared to analysts’ expectations of $66.35 million. During the same quarter in the prior year, the firm earned $1.20 earnings per share. On average, sell-side analysts forecast that Centerspace will post 4.86 earnings per share for the current fiscal year.

Centerspace Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Monday, December 30th were issued a $0.75 dividend. The ex-dividend date was Monday, December 30th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 4.94%. Centerspace’s dividend payout ratio (DPR) is -186.34%.

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.