Centerspace (NYSE:CSR) Reaches New 1-Year Low - Here's Why

Key Points

• Centerspace shares hit a new 52-week low, trading as low as $53.65 and down about 2%, below both their 50-day and 200-day moving averages.
• Analyst sentiment remains cautious: seven analysts rate the stock Hold and one rates it Buy, with an average price target of $63.80 after several firms lowered their targets.
• The company beat quarterly EPS expectations but slightly missed revenue estimates, while maintaining a quarterly dividend of $0.77 per share, representing a 5.7% annualized yield.

Centerspace (NYSE:CSR - Get Free Report) shares reached a new 52-week low on Tuesday . The stock traded as low as $53.65 and last traded at $53.5670, with a volume of 76915 shares trading hands. The stock had previously closed at $54.64.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CSR. Royal Bank Of Canada dropped their target price on shares of Centerspace from $67.00 to $64.00 and set an "outperform" rating on the stock in a research report on Wednesday, August 5th. Wall Street Zen upgraded shares of Centerspace from a "sell" rating to a "hold" rating in a research report on Saturday, August 8th. Piper Sandler dropped their price objective on shares of Centerspace from $64.00 to $60.00 and set a "neutral" rating on the stock in a report on Tuesday, July 21st. BTIG Research lowered shares of Centerspace from a "buy" rating to a "neutral" rating in a research report on Tuesday, June 16th. Finally, UBS Group increased their target price on shares of Centerspace from $66.00 to $70.00 and gave the company a "neutral" rating in a research note on Thursday, May 14th. One analyst has rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $63.80.

Centerspace Stock Down 2.0%

The business's fifty day moving average price is $56.08 and its 200 day moving average price is $60.85. The company has a market capitalization of $899.60 million, a P/E ratio of 42.51 and a beta of 0.88. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.87.

Centerspace (NYSE:CSR - Get Free Report) last posted its earnings results on Monday, August 3rd. The company reported ($0.07) earnings per share for the quarter, beating analysts' consensus estimates of ($0.13) by $0.06. The business had revenue of $65.78 million for the quarter, compared to analysts' expectations of $66.29 million. Centerspace had a net margin of 7.97% and a return on equity of 2.58%. Centerspace has set its FY 2026 guidance at 4.580-4.680 EPS. As a group, equities research analysts predict that Centerspace will post 4.63 earnings per share for the current fiscal year.

Centerspace Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 14th. Investors of record on Monday, June 29th were given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 5.7%. The ex-dividend date was Monday, June 29th. Centerspace's dividend payout ratio (DPR) is 244.44%.

Insider Buying and Selling at Centerspace

In related news, Director Rodney Jones-Tyson acquired 1,700 shares of the business's stock in a transaction on Monday, June 22nd. The stock was bought at an average cost of $55.26 per share, with a total value of $93,942.00. Following the completion of the acquisition, the director owned 7,877 shares in the company, valued at $435,283.02. The trade was a 27.52% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John A. Schissel acquired 500 shares of the business's stock in a transaction on Thursday, June 18th. The shares were bought at an average cost of $54.90 per share, with a total value of $27,450.00. Following the completion of the acquisition, the director owned 17,195 shares of the company's stock, valued at approximately $944,005.50. This trade represents a 2.99% increase in their position. The SEC filing for this purchase provides additional information. 0.49% of the stock is owned by insiders.

Institutional Investors Weigh In On Centerspace

Several large investors have recently made changes to their positions in CSR. Covestor Ltd lifted its holdings in Centerspace by 57,100.0% during the 4th quarter. Covestor Ltd now owns 572 shares of the company's stock valued at $38,000 after purchasing an additional 571 shares during the last quarter. Sound Income Strategies LLC grew its stake in Centerspace by 67.4% during the first quarter. Sound Income Strategies LLC now owns 626 shares of the company's stock worth $36,000 after buying an additional 252 shares during the last quarter. Danske Bank A S acquired a new stake in shares of Centerspace during the fourth quarter worth approximately $47,000. Avalon Trust Co increased its holdings in shares of Centerspace by 36.3% during the first quarter. Avalon Trust Co now owns 709 shares of the company's stock worth $41,000 after buying an additional 189 shares in the last quarter. Finally, Kestra Advisory Services LLC bought a new position in shares of Centerspace in the fourth quarter valued at approximately $58,000. 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. Centerspace was named a Top Workplace for the fourth consecutive year in 2023 by the Minneapolis Star Tribune.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source