Centerspace (NYSE:CSR) Receives $63.80 Consensus Price Target from Analysts

Centerspace (NYSE:CSR) has been given an average recommendation of “Hold” by the eight research firms that are presently covering the stock, Marketbeat Ratings reports. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $63.80.

A number of brokerages recently issued reports on CSR. UBS Group increased their price target on Centerspace from $66.00 to $70.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Wall Street Zen raised Centerspace from a “sell” rating to a “hold” rating in a report on Saturday. Royal Bank Of Canada cut their target price on Centerspace from $67.00 to $64.00 and set an “outperform” rating for the company in a research report on Wednesday, August 5th. BTIG Research lowered Centerspace from a “buy” rating to a “neutral” rating in a report on Tuesday, June 16th. Finally, Wells Fargo & Company decreased their price target on Centerspace from $70.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 22nd.

Insider Transactions at Centerspace

In other news, Director John A. Schissel bought 500 shares of the firm’s stock in a transaction on Thursday, June 18th. The shares were purchased at an average cost of $54.90 per share, with a total value of $27,450.00. Following the acquisition, the director directly owned 17,195 shares in the company, valued at $944,005.50. This represents a 2.99% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Rodney Jones-Tyson bought 1,700 shares of the company’s stock in a transaction dated Monday, June 22nd. The stock was purchased at an average price of $55.26 per share, with a total value of $93,942.00. Following the completion of the transaction, the director directly 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. Corporate insiders own 0.49% of the company’s stock.

Institutional Investors Weigh In On Centerspace

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sound Income Strategies LLC increased its stake in shares of Centerspace by 67.4% in the 1st quarter. Sound Income Strategies LLC now owns 626 shares of the company’s stock valued at $36,000 after purchasing an additional 252 shares during the last quarter. Covestor Ltd lifted its position in shares of Centerspace by 57,100.0% during the 4th quarter. Covestor Ltd now owns 572 shares of the company’s stock worth $38,000 after buying an additional 571 shares during the last quarter. Avalon Trust Co lifted its position in shares of Centerspace by 36.3% during the 1st quarter. Avalon Trust Co now owns 709 shares of the company’s stock worth $41,000 after buying an additional 189 shares during the last quarter. Danske Bank A S acquired a new stake in Centerspace in the fourth quarter valued at about $47,000. Finally, Kestra Advisory Services LLC acquired a new stake in Centerspace in the fourth quarter valued at about $58,000. 79.00% of the stock is currently owned by institutional investors.

Centerspace Trading Down 0.4%

Shares of Centerspace stock opened at $54.92 on Friday. The firm has a 50-day moving average of $56.39 and a 200-day moving average of $61.10. The stock has a market cap of $922.19 million, a PE ratio of 43.59 and a beta of 0.88. Centerspace has a 52-week low of $53.74 and a 52-week high of $69.61. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.03 and a current ratio of 0.03.

Centerspace (NYSE:CSR) last announced its earnings results on Monday, August 3rd. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.06. Centerspace had a net margin of 7.97% and a return on equity of 2.58%. The firm had revenue of $65.78 million for the quarter, compared to analyst estimates of $66.29 million. Centerspace has set its FY 2026 guidance at 4.580-4.680 EPS. As a group, sell-side analysts forecast that Centerspace will post 4.63 EPS for the current year.

Centerspace Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 14th. Investors of record on Monday, June 29th were given a dividend of $0.77 per share. The ex-dividend date of this dividend was Monday, June 29th. This represents a $3.08 annualized dividend and a yield of 5.6%. Centerspace’s dividend payout ratio is currently 244.44%.

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