Centerspace (NYSE:CSR) Reaches New 52-Week Low - Time to Sell?

Key Points

• Centerspace's stock hit a new **52-week low** of **$53.73**, down from a previous close of **$54.43**, amid a trading volume of **17,872 shares**.
• Analyst ratings are mixed, with **four** analysts rating the stock as a hold, **four** as a buy, and one issuing a **strong buy** rating; the overall consensus is a **"Moderate Buy"** with a price target of **$70.78**.
• The company announced a **quarterly dividend** of **$0.77**, yielding **5.7%**, but has a concerning **payout ratio of -275.00%**, indicating potential sustainability issues for future dividends.

Centerspace (NYSE:CSR - Get Free Report)'s share price hit a new 52-week low during trading on Friday . The company traded as low as $53.88 and last traded at $53.73, with a volume of 17872 shares. The stock had previously closed at $54.43.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. UBS Group decreased their target price on Centerspace from $67.00 to $60.00 and set a "neutral" rating on the stock in a report on Tuesday, July 15th. Raymond James Financial raised Centerspace from an "outperform" rating to a "strong-buy" rating and raised their target price for the stock from $66.00 to $69.00 in a report on Thursday, May 15th. Piper Sandler decreased their target price on Centerspace from $75.00 to $68.00 and set a "neutral" rating on the stock 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 report on Friday, April 4th. Finally, Royal Bank Of Canada raised their target price on Centerspace from $71.00 to $72.00 and gave the stock an "outperform" rating in a report on Monday, May 5th. Four research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $70.78.

Centerspace Stock Down 0.9%

The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.76. The company has a fifty day moving average price of $61.07 and a 200-day moving average price of $61.56. The stock has a market capitalization of $902.43 million, a P/E ratio of -48.15 and a beta of 0.72.

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

Centerspace Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 10th. Stockholders of record on Friday, June 27th were issued a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 5.7%. The ex-dividend date of this dividend was Friday, June 27th. Centerspace's payout ratio is -275.00%.

Institutional Investors Weigh In On Centerspace

Large investors have recently made changes to their positions in the company. CWM LLC grew its position in Centerspace by 3,235.3% in the second quarter. CWM LLC now owns 2,268 shares of the company's stock worth $137,000 after acquiring an additional 2,200 shares in the last quarter. Aberdeen Group plc boosted its position in shares of Centerspace by 9.4% during the second quarter. Aberdeen Group plc now owns 4,625 shares of the company's stock valued at $278,000 after buying an additional 398 shares during the period. KLP Kapitalforvaltning AS boosted its position in shares of Centerspace by 27.2% during the second quarter. KLP Kapitalforvaltning AS now owns 3,740 shares of the company's stock valued at $228,000 after buying an additional 800 shares during the period. OLD National Bancorp IN purchased a new position in shares of Centerspace during the second quarter valued at approximately $337,000. Finally, Hilltop National Bank purchased a new position in shares of Centerspace during the second quarter valued at approximately $29,000. 79.00% of the stock is owned by institutional investors.

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.

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