Centerspace (NYSE:CSR) Reaches New 1-Year High – Time to Buy?

Centerspace (NYSE:CSR)’s share price hit a new 52-week high on Friday . The company traded as high as $69.16 and last traded at $68.4540, with a volume of 8988 shares. The stock had previously closed at $68.27.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on CSR shares. Wells Fargo & Company lowered their target price on shares of Centerspace from $74.00 to $69.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 5th. Piper Sandler upgraded shares of Centerspace from a “neutral” rating to an “overweight” rating and upped their price target for the company from $69.00 to $72.00 in a report on Tuesday, April 7th. Royal Bank Of Canada raised their price target on Centerspace from $68.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, February 19th. Wall Street Zen upgraded Centerspace from a “strong sell” rating to a “sell” rating in a research note on Saturday, April 11th. Finally, UBS Group increased their target price on Centerspace from $63.00 to $66.00 and gave the company a “neutral” rating in a research note on Thursday, January 8th. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $68.83.

Centerspace Trading Up 0.2%

The business’s fifty day simple moving average is $62.05 and its two-hundred day simple moving average is $63.35. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $1.15 billion, a P/E ratio of 68.59 and a beta of 0.81.

Centerspace (NYSE:CSR) last announced its quarterly earnings data on Tuesday, February 17th. The company reported ($1.10) EPS for the quarter, missing analysts’ consensus estimates of $1.21 by ($2.31). Centerspace had a net margin of 6.25% and a return on equity of 2.00%. The company had revenue of $66.62 million for the quarter, compared to analyst estimates of $69.77 million. Centerspace has set its FY 2026 guidance at 4.810-5.050 EPS. As a group, analysts forecast that Centerspace will post 4.82 earnings per share for the current year.

Centerspace Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 14th. Stockholders of record on Monday, March 30th were given a dividend of $0.77 per share. The ex-dividend date was Monday, March 30th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.5%. Centerspace’s payout ratio is currently 308.00%.

Institutional Investors Weigh In On Centerspace

A number of institutional investors have recently bought and sold shares of the business. Land & Buildings Investment Management LLC grew its position in Centerspace by 96.4% in the third quarter. Land & Buildings Investment Management LLC now owns 599,252 shares of the company’s stock valued at $35,296,000 after acquiring an additional 294,086 shares during the period. Pacific Heights Asset Management LLC lifted its holdings in shares of Centerspace by 12.5% during the third quarter. Pacific Heights Asset Management LLC now owns 225,000 shares of the company’s stock valued at $13,252,000 after acquiring an additional 25,000 shares during the period. WINTON GROUP Ltd acquired a new stake in shares of Centerspace in the 3rd quarter valued at $1,691,000. JPMorgan Chase & Co. boosted its stake in shares of Centerspace by 10.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 224,583 shares of the company’s stock valued at $13,228,000 after purchasing an additional 21,337 shares in the last quarter. Finally, Public Sector Pension Investment Board grew its holdings in shares of Centerspace by 14.5% in the 3rd quarter. Public Sector Pension Investment Board now owns 65,352 shares of the company’s stock worth $3,849,000 after purchasing an additional 8,287 shares during the last quarter. Institutional investors and hedge funds own 79.00% of the company’s stock.

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.