UBS Group Cuts Centerspace (NYSE:CSR) Price Target to $60.00

Centerspace (NYSE:CSR - Free Report) had its price objective trimmed by UBS Group from $67.00 to $60.00 in a research report released on Tuesday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Other analysts have also issued research reports about the company. Raymond James Financial upgraded Centerspace from an "outperform" rating to a "strong-buy" rating and increased their price target for the company from $66.00 to $69.00 in a report on Thursday, May 15th. 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 increased 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. BMO Capital Markets raised Centerspace from a "market perform" rating to an "outperform" rating and set a $77.00 target price on the stock in a research note on Friday, April 4th. Finally, Wells Fargo & Company initiated coverage on Centerspace in a research note on Wednesday, March 19th. They set an "equal weight" rating and a $68.00 target price on the stock. Four research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Centerspace has a consensus rating of "Moderate Buy" and a consensus price target of $70.78.

Centerspace Price Performance

Shares of CSR traded down $0.38 during mid-day trading on Tuesday, hitting $58.78. 105,958 shares of the stock were exchanged, compared to its average volume of 115,238. The company has a market cap of $983.98 million, a PE ratio of -52.48 and a beta of 0.72. Centerspace has a 52-week low of $54.13 and a 52-week high of $76.16. The firm has a 50-day moving average of $61.97 and a two-hundred day moving average of $61.95. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.05 and a current ratio of 0.05.

Centerspace (NYSE:CSR - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $1.21 earnings per share (EPS) for the quarter, hitting the consensus estimate 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%. On average, equities analysts predict that Centerspace will post 4.94 earnings per share for the current year.

Centerspace Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 10th. Shareholders of record on Friday, June 27th were paid a $0.77 dividend. The ex-dividend date was Friday, June 27th. This represents a $3.08 dividend on an annualized basis and a yield of 5.24%. Centerspace's payout ratio is -275.00%.

Institutional Trading of Centerspace

Hedge funds and other institutional investors have recently bought and sold shares of the business. Nuveen LLC bought a new position in shares of Centerspace during the 1st quarter worth $13,147,000. Vanguard Group Inc. grew its position in shares of Centerspace by 8.2% during the 4th quarter. Vanguard Group Inc. now owns 2,594,366 shares of the company's stock worth $171,617,000 after buying an additional 195,629 shares in the last quarter. Millennium Management LLC grew its position in shares of Centerspace by 307.3% during the 1st quarter. Millennium Management LLC now owns 184,051 shares of the company's stock worth $11,917,000 after buying an additional 138,861 shares in the last quarter. Allianz Asset Management GmbH bought a new position in shares of Centerspace during the 1st quarter worth $6,388,000. Finally, Norges Bank bought a new position in shares of Centerspace during the 4th quarter worth $4,768,000. 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.