Centerspace (NYSE:CSR) Trading Up 5.2%

Centerspace (NYSE:CSR - Get Free Report) shares rose 5.2% on Monday . The stock traded as high as $58.99 and last traded at $58.88. Approximately 29,078 shares changed hands during mid-day trading, a decline of 60% from the average daily volume of 72,206 shares. The stock had previously closed at $55.98.

Analyst Ratings Changes

CSR has been the topic of several analyst reports. Royal Bank of Canada reiterated an "outperform" rating and issued a $63.00 target price on shares of Centerspace in a report on Friday, March 22nd. Piper Sandler restated a "neutral" rating and set 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 assigned a buy rating to the company's stock. According to data from MarketBeat, Centerspace presently has an average rating of "Moderate Buy" and a consensus target price of $65.57.

Centerspace Trading Up 5.7 %

The business's 50-day moving average price is $55.72 and its 200 day moving average price is $55.48. The company has a market cap of $890.81 million, a P/E ratio of 25.18, a P/E/G ratio of 1.69 and a beta of 0.93. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.03 and a current ratio of 0.03.

Centerspace Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 8th. Stockholders of record on Thursday, March 28th will be given a $0.75 dividend. The ex-dividend date is Wednesday, March 27th. 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 5.07%. Centerspace's payout ratio is presently 128.76%.

Insider Activity

In related news, Director John A. Schissel purchased 500 shares of the firm's stock in a transaction that occurred on Monday, March 11th. The shares were bought at an average cost of $56.40 per share, with a total value of $28,200.00. Following the acquisition, the director now owns 9,522 shares of the company's stock, valued at approximately $537,040.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.96% of the company's stock.

Institutional Investors Weigh In On Centerspace

Several hedge funds and other institutional investors have recently made changes to their positions in CSR. Pensionfund Sabic grew its holdings in Centerspace by 26.8% during the 1st quarter. Pensionfund Sabic now owns 8,519 shares of the company's stock worth $487,000 after acquiring an additional 1,800 shares during the last quarter. Pensionfund DSM Netherlands grew its holdings in Centerspace by 19.6% during the 1st quarter. Pensionfund DSM Netherlands now owns 18,280 shares of the company's stock worth $1,045,000 after acquiring an additional 3,000 shares during the last quarter. Quadrature Capital Ltd bought a new stake in Centerspace during the 4th quarter worth approximately $607,000. ICA Group Wealth Management LLC bought a new stake in Centerspace during the 4th quarter worth approximately $55,000. Finally, Price T Rowe Associates Inc. MD grew its holdings in Centerspace by 1.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 11,539 shares of the company's stock worth $672,000 after acquiring an additional 194 shares during the last quarter. 79.00% of the stock is 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.