Analysts Set Centerspace (NYSE:CSR) Price Target at $69.75

Key Points

• Centerspace (NYSE:CSR) has an average analyst rating of "Moderate Buy", with four analysts rating it as a hold, three as a buy, and one as a strong buy; the average 1-year target price is $69.75.
• The CFO and CEO have recently made purchases of the company's shares, increasing their ownership, with the CFO acquiring 500 shares at $54.00 each and the CEO buying 750 shares at $55.10 each.
• Citing recent earnings results, Centerspace reported $1.28 EPS for the last quarter, exceeding the analyst's expectations, and set FY 2025 guidance at $4.880-5.000 EPS.

Centerspace (NYSE:CSR - Get Free Report) has been assigned an average rating of "Moderate Buy" from the eight brokerages that are covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $68.75.

CSR has been the topic of a number of recent analyst reports. Piper Sandler decreased their price target on Centerspace from $75.00 to $68.00 and set a "neutral" rating on the stock in a report on Monday, May 5th. Royal Bank Of Canada raised their price target on Centerspace from $71.00 to $72.00 and gave the company an "outperform" rating in a report on Monday, May 5th. Wells Fargo & Company decreased their price target on Centerspace from $68.00 to $60.00 and set an "equal weight" rating on the stock in a report on Wednesday. Raymond James Financial raised Centerspace from an "outperform" rating to a "strong-buy" rating and raised their price target for the company from $66.00 to $69.00 in a report on Thursday, May 15th. Finally, UBS Group decreased their price target on Centerspace from $67.00 to $60.00 and set a "neutral" rating on the stock in a report on Tuesday, July 15th.

Centerspace Stock Performance

Centerspace stock traded up $0.63 during trading on Friday, reaching $59.35. The company had a trading volume of 82,199 shares, compared to its average volume of 109,037. Centerspace has a 52 week low of $52.76 and a 52 week high of $76.16. The firm's 50-day simple moving average is $57.98 and its 200 day simple moving average is $60.77. The firm has a market capitalization of $994.71 million, a price-to-earnings ratio of -32.97 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 0.97.

Centerspace (NYSE:CSR - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The company reported $1.28 EPS for the quarter, beating analysts' consensus estimates of $1.26 by $0.02. The business had revenue of $68.55 million for the quarter, compared to analysts' expectations of $67.89 million. Centerspace had a negative return on equity of 2.81% and a negative net margin of 9.13%. Centerspace has set its FY 2025 guidance at 4.880-5.000 EPS. Sell-side analysts forecast that Centerspace will post 4.94 earnings per share for the current fiscal year.

Centerspace Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 10th. Stockholders of record on Friday, June 27th were given a dividend of $0.77 per share. The ex-dividend date was Friday, June 27th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 5.2%. Centerspace's dividend payout ratio (DPR) is presently -171.11%.

Insider Activity

In other news, Director John A. Schissel acquired 500 shares of the business's stock in a transaction dated Friday, August 8th. The stock was purchased at an average price of $54.00 per share, for a total transaction of $27,000.00. Following the completion of the transaction, the director directly owned 14,398 shares in the company, valued at approximately $777,492. This trade represents a 3.60% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Bhairav Patel acquired 500 shares of the business's stock in a transaction dated Friday, August 8th. The shares were purchased at an average price of $54.00 per share, with a total value of $27,000.00. Following the transaction, the chief financial officer owned 3,733 shares of the company's stock, valued at approximately $201,582. This represents a 15.47% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 1,750 shares of company stock worth $95,325 over the last 90 days. Corporate insiders own 0.44% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CSR. LPL Financial LLC grew its position in shares of Centerspace by 43.5% during the fourth quarter. LPL Financial LLC now owns 5,454 shares of the company's stock valued at $361,000 after purchasing an additional 1,654 shares in the last quarter. Wells Fargo & Company MN grew its position in Centerspace by 20.9% in the fourth quarter. Wells Fargo & Company MN now owns 12,774 shares of the company's stock worth $845,000 after acquiring an additional 2,206 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Centerspace in the fourth quarter worth about $417,000. CANADA LIFE ASSURANCE Co grew its position in Centerspace by 9.9% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 34,255 shares of the company's stock worth $2,258,000 after acquiring an additional 3,084 shares in the last quarter. Finally, First Trust Advisors LP purchased a new position in Centerspace in the fourth quarter worth about $223,000. 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.