Centerspace (NYSE:CSR) Sets New 12-Month 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 reached 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 traded. The stock had previously closed at $54.43.

Analysts Set New Price Targets

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

Centerspace Price Performance

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 stock has a market capitalization of $911.16 million, a PE ratio of -48.60 and a beta of 0.72. The firm has a 50 day moving average price of $60.80 and a 200 day moving average price of $61.47.

Centerspace Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 10th. Shareholders of record on Friday, June 27th were paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date was Friday, June 27th. Centerspace's dividend payout ratio is presently -275.00%.

Institutional Investors Weigh In On Centerspace

A number of 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 valued at about $13,147,000. Vanguard Group Inc. lifted its holdings in shares of Centerspace by 8.2% in the 4th quarter. Vanguard Group Inc. now owns 2,594,366 shares of the company's stock valued at $171,617,000 after acquiring an additional 195,629 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of Centerspace by 307.3% in the 1st quarter. Millennium Management LLC now owns 184,051 shares of the company's stock valued at $11,917,000 after acquiring an additional 138,861 shares during the last quarter. Allianz Asset Management GmbH bought a new position in shares of Centerspace in the 1st quarter valued at about $6,388,000. Finally, Strs Ohio lifted its holdings in shares of Centerspace by 3,025.8% in the 2nd quarter. Strs Ohio now owns 96,900 shares of the company's stock valued at $5,832,000 after acquiring an additional 93,800 shares during the last quarter. 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.