Centerspace (NYSE:CSR) Price Target Increased to $64.00 by Analysts at Piper Sandler

Centerspace (NYSE:CSR - Free Report) had its target price increased by Piper Sandler from $63.00 to $64.00 in a research report report published on Monday, Benzinga reports. The brokerage currently has a neutral rating on the stock.

CSR has been the subject of a number of other research reports. Royal Bank of Canada boosted their target price on shares of Centerspace from $66.00 to $68.00 and gave the stock an outperform rating in a research note on Wednesday, May 1st. Compass Point lowered shares of Centerspace from a buy rating to a neutral rating and increased their price target for the company from $65.00 to $68.00 in a research note on Friday. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $66.33.

Centerspace Stock Up 0.9 %

CSR stock traded up $0.64 during midday trading on Monday, hitting $69.35. The company's stock had a trading volume of 56,832 shares, compared to its average volume of 82,058. Centerspace has a 52-week low of $46.74 and a 52-week high of $70.15. The firm has a 50-day simple moving average of $59.26 and a 200-day simple moving average of $56.25. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $1.03 billion, a P/E ratio of -86.66, a PEG ratio of 2.07 and a beta of 0.87.

Centerspace (NYSE:CSR - Get Free Report) last issued its quarterly earnings results on Monday, April 29th. The company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of $1.12 by ($1.49). The company had revenue of $64.51 million for the quarter, compared to analysts' expectations of $65.30 million. Centerspace had a negative return on equity of 0.73% and a negative net margin of 2.38%. During the same quarter last year, the company earned $1.07 EPS. As a group, equities analysts forecast that Centerspace will post 4.75 EPS for the current year.

Centerspace Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 8th. Investors of record on Thursday, March 28th were issued a dividend of $0.75 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This is an increase from Centerspace's previous quarterly dividend of $0.73. This represents a $3.00 annualized dividend and a dividend yield of 4.33%. Centerspace's dividend payout ratio (DPR) is currently -375.00%.

Insider Buying and Selling at Centerspace

In other news, Director John A. Schissel bought 500 shares of Centerspace stock in a transaction dated Monday, March 11th. The stock was bought at an average price of $56.40 per share, for a total transaction of $28,200.00. Following the purchase, the director now owns 9,522 shares of the company's stock, valued at $537,040.80. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.92% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Centerspace

Several institutional investors have recently made changes to their positions in CSR. Charles Schwab Investment Management Inc. lifted its position in shares of Centerspace by 1.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 251,117 shares of the company's stock valued at $14,615,000 after acquiring an additional 3,272 shares during the period. Invesco Ltd. increased its position in shares of Centerspace by 1.7% in the third quarter. Invesco Ltd. now owns 104,712 shares of the company's stock valued at $6,310,000 after buying an additional 1,789 shares in the last quarter. Westwood Holdings Group Inc. acquired a new position in shares of Centerspace during the 4th quarter worth $5,238,000. Principal Financial Group Inc. grew its stake in Centerspace by 5.1% in the 1st quarter. Principal Financial Group Inc. now owns 82,460 shares of the company's stock valued at $4,712,000 after acquiring an additional 3,984 shares during the last quarter. Finally, Panagora Asset Management Inc. increased its holdings in Centerspace by 181.8% during the 4th quarter. Panagora Asset Management Inc. now owns 41,413 shares of the company's stock valued at $2,410,000 after acquiring an additional 26,716 shares in the last quarter. 79.00% of the stock is currently owned by hedge funds and other 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.