Centerspace (NYSE:CSR) Given New $68.00 Price Target at Royal Bank of Canada

Centerspace (NYSE:CSR - Free Report) had its target price raised by Royal Bank of Canada from $66.00 to $68.00 in a report released on Wednesday, Benzinga reports. They currently have an outperform rating on the stock.

Separately, Piper Sandler restated a neutral rating and issued a $63.00 price objective on shares of Centerspace in a report on Tuesday, March 26th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $66.29.

Centerspace Price Performance

NYSE:CSR traded up $1.59 during mid-day trading on Wednesday, hitting $68.84. 141,789 shares of the company's stock traded hands, compared to its average volume of 82,270. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.03 and a current ratio of 0.03. The firm's 50 day simple moving average is $58.55 and its 200 day simple moving average is $55.99. Centerspace has a 1 year low of $46.74 and a 1 year high of $69.61. The company has a market cap of $1.03 billion, a PE ratio of -86.00, a price-to-earnings-growth ratio of 1.95 and a beta of 0.93.

Centerspace (NYSE:CSR - Get Free Report) last issued its quarterly earnings data on Monday, April 29th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.12 by ($1.49). The company had revenue of $64.51 million during the quarter, compared to analysts' expectations of $65.30 million. Centerspace had a negative net margin of 2.38% and a negative return on equity of 0.72%. During the same quarter in the prior year, the company earned $1.07 earnings per share. Sell-side analysts expect that Centerspace will post 4.74 EPS for the current year.

Centerspace Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 8th. Stockholders of record on Thursday, March 28th were paid a dividend of $0.75 per share. This is a boost from Centerspace's previous quarterly dividend of $0.73. This represents a $3.00 annualized dividend and a dividend yield of 4.36%. The ex-dividend date of this dividend was Wednesday, March 27th. Centerspace's dividend payout ratio is -375.00%.

Insider Activity at Centerspace

In related news, Director John A. Schissel acquired 500 shares of the firm's stock in a transaction on Monday, March 11th. The stock was bought at an average cost of $56.40 per share, with a total value of $28,200.00. Following the acquisition, the director now directly owns 9,522 shares in the company, valued at $537,040.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.92% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Centerspace

Several large investors have recently added to or reduced their stakes in CSR. Nisa Investment Advisors LLC lifted its position in shares of Centerspace by 4.6% in the 3rd quarter. Nisa Investment Advisors LLC now owns 6,605 shares of the company's stock worth $398,000 after buying an additional 290 shares during the last quarter. Asset Management One Co. Ltd. grew its stake in Centerspace by 1.3% during the 4th quarter. Asset Management One Co. Ltd. now owns 23,023 shares of the company's stock worth $1,366,000 after buying an additional 301 shares during the last quarter. SG Americas Securities LLC increased its position in Centerspace by 2.6% in the fourth quarter. SG Americas Securities LLC now owns 12,662 shares of the company's stock worth $737,000 after buying an additional 318 shares during the period. New York State Common Retirement Fund grew its position in shares of Centerspace by 1.6% during the fourth quarter. New York State Common Retirement Fund now owns 20,679 shares of the company's stock worth $1,204,000 after acquiring an additional 329 shares during the last quarter. Finally, Van ECK Associates Corp increased its holdings in shares of Centerspace by 19.7% in the 4th quarter. Van ECK Associates Corp now owns 2,118 shares of the company's stock worth $123,000 after acquiring an additional 348 shares during the period. 79.00% of the stock is currently owned by institutional investors.

Centerspace Company Profile

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.