Centerspace (NYSE:CSR) Sets New 1-Year Low - Here's Why

Key Points

• Centerspace shares hit a new 52-week low, falling to $52.00 during Tuesday trading and remaining below both their 50-day and 200-day moving averages.
• Analyst sentiment is mixed but centers on a consensus “Hold” rating, with a $62.80 average price target; recent firms included downgrades from Zacks Research and BTIG Research.
• The company reported better-than-expected quarterly EPS, declared a quarterly dividend of $0.77 per share yielding about 5.8%, and disclosed recent stock purchases by two directors.

Centerspace (NYSE:CSR - Get Free Report) shares reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $52.00 and last traded at $52.6970, with a volume of 208647 shares trading hands. The stock had previously closed at $52.90.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CSR. Wall Street Zen upgraded shares of Centerspace from a "sell" rating to a "hold" rating in a research note on Saturday, August 8th. Weiss Ratings lowered shares of Centerspace from a "hold (c)" rating to a "hold (c-)" rating in a research report on Wednesday, August 19th. Royal Bank Of Canada lowered their target price on shares of Centerspace from $67.00 to $64.00 and set an "outperform" rating on the stock in a research note on Wednesday, August 5th. Zacks Research lowered shares of Centerspace from a "hold" rating to a "strong sell" rating in a research report on Tuesday, August 18th. Finally, BTIG Research cut shares of Centerspace from a "buy" rating to a "neutral" rating in a research note on Tuesday, June 16th. One analyst has rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Centerspace currently has a consensus rating of "Hold" and a consensus price target of $62.80.

Centerspace Trading Down 0.3%

The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.03 and a current ratio of 0.03. The stock has a market cap of $885.25 million, a P/E ratio of 42.21 and a beta of 0.86. The company has a 50-day simple moving average of $55.05 and a 200-day simple moving average of $59.72.

Centerspace (NYSE:CSR - Get Free Report) last announced its earnings results on Monday, August 3rd. The company reported ($0.07) earnings per share for the quarter, beating analysts' consensus estimates of ($0.13) by $0.06. Centerspace had a return on equity of 2.58% and a net margin of 7.97%.The company had revenue of $65.78 million during the quarter, compared to analyst estimates of $66.29 million. Centerspace has set its FY 2026 guidance at 4.580-4.680 EPS. On average, sell-side analysts forecast that Centerspace will post 4.67 EPS for the current fiscal year.

Centerspace Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 14th. Stockholders of record on Tuesday, September 29th will be paid a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 5.8%. The ex-dividend date of this dividend is Tuesday, September 29th. Centerspace's dividend payout ratio is 244.44%.

Insider Buying and Selling

In related news, Director John Schissel acquired 500 shares of the company's stock in a transaction that occurred on Thursday, June 18th. The stock was purchased at an average price of $54.90 per share, for a total transaction of $27,450.00. Following the transaction, the director directly owned 17,195 shares of the company's stock, valued at approximately $944,005.50. This trade represents a 2.99% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Rodney Jones-Tyson acquired 1,700 shares of Centerspace stock in a transaction on Monday, June 22nd. The shares were purchased at an average cost of $55.26 per share, for a total transaction of $93,942.00. Following the acquisition, the director owned 7,877 shares in the company, valued at approximately $435,283.02. This represents a 27.52% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 0.49% of the company's stock.

Hedge Funds Weigh In On Centerspace

Hedge funds have recently added to or reduced their stakes in the company. Diamond Hill Capital Management Inc. acquired a new stake in shares of Centerspace during the 4th quarter worth approximately $3,163,000. BlackRock Inc. acquired a new position in Centerspace in the second quarter valued at approximately $167,912,000. Diamond Hill Capital Management LLC Investment Advisor bought a new position in Centerspace in the second quarter valued at approximately $7,009,000. ABS Investment Management LLC bought a new position in Centerspace in the second quarter valued at approximately $1,404,750. Finally, Systematic Financial Management LP grew its holdings in Centerspace by 19.7% during the 4th quarter. Systematic Financial Management LP now owns 305,533 shares of the company's stock worth $20,385,000 after acquiring an additional 50,350 shares during the period. Institutional investors own 79.00% of the company's stock.

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. Centerspace was named a Top Workplace for the fourth consecutive year in 2023 by the Minneapolis Star Tribune.

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