Centerspace (NYSE:CSR) Receives $71.56 Consensus Target Price from Analysts

Centerspace (NYSE:CSR - Get Free Report) has been given an average rating of "Moderate Buy" by the nine analysts that are presently covering the firm, Marketbeat reports. Four research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $71.56.

A number of equities analysts have recently commented on the stock. Royal Bank Of Canada lifted their target price on shares of Centerspace from $71.00 to $72.00 and gave the company an "outperform" rating in a report on Monday, May 5th. Piper Sandler reduced their target price on shares of Centerspace from $75.00 to $68.00 and set a "neutral" rating for the company in a report on Monday, May 5th. BMO Capital Markets raised Centerspace from a "market perform" rating to an "outperform" rating and set a $77.00 price target on the stock in a report on Friday, April 4th. UBS Group assumed coverage on Centerspace in a research note on Monday, April 7th. They set a "neutral" rating and a $67.00 price objective for the company. Finally, Wells Fargo & Company began coverage on Centerspace in a research note on Wednesday, March 19th. They issued an "equal weight" rating and a $68.00 target price on the stock.

Centerspace Stock Down 0.4%

NYSE:CSR traded down $0.25 during midday trading on Friday, hitting $60.28. 145,551 shares of the company were exchanged, compared to its average volume of 114,855. Centerspace has a fifty-two week low of $54.13 and a fifty-two week high of $76.16. The company has a market capitalization of $1.01 billion, a PE ratio of -53.82 and a beta of 0.72. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.76. The company has a fifty day simple moving average of $62.10 and a 200 day simple moving average of $62.22.

Centerspace (NYSE:CSR - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $1.21 EPS for the quarter, hitting analysts' consensus estimates of $1.21. The business had revenue of $67.09 million for the quarter, compared to analysts' expectations of $66.70 million. Centerspace had a negative return on equity of 1.30% and a negative net margin of 4.23%. As a group, equities analysts anticipate that Centerspace will post 4.94 earnings per share for the current fiscal year.

Centerspace Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Friday, June 27th will be paid a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 5.11%. The ex-dividend date is Friday, June 27th. Centerspace's dividend payout ratio (DPR) is -275.00%.

Institutional Investors Weigh In On Centerspace

Institutional investors and hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp raised its holdings in Centerspace by 3.0% during the fourth quarter. Bank of New York Mellon Corp now owns 126,121 shares of the company's stock worth $8,343,000 after purchasing an additional 3,645 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in shares of Centerspace by 370.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 381 shares of the company's stock worth $25,000 after buying an additional 300 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Centerspace in the 4th quarter worth about $417,000. Amundi grew its stake in Centerspace by 53.3% in the 4th quarter. Amundi now owns 16,297 shares of the company's stock valued at $1,002,000 after acquiring an additional 5,667 shares during the last quarter. Finally, Daiwa Securities Group Inc. increased its holdings in Centerspace by 7.3% during the 4th quarter. Daiwa Securities Group Inc. now owns 5,400 shares of the company's stock valued at $357,000 after acquiring an additional 368 shares in the last quarter. Institutional investors and hedge funds 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.