Centerspace (NYSE:CSR) Sets New 12-Month Low – Should You Sell?

Shares of Centerspace (NYSE:CSR) reached a new 52-week low on Tuesday . The company traded as low as $53.65 and last traded at $53.5670, with a volume of 76915 shares trading hands. The stock had previously closed at $54.64.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. UBS Group boosted their price objective on Centerspace from $66.00 to $70.00 and gave the stock a “neutral” rating in a research note on Thursday, May 14th. Piper Sandler lowered their target price on Centerspace from $64.00 to $60.00 and set a “neutral” rating for the company in a research note on Tuesday, July 21st. Wall Street Zen raised Centerspace from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Royal Bank Of Canada reduced their price target on shares of Centerspace from $67.00 to $64.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 5th. Finally, BTIG Research downgraded shares of Centerspace from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 16th. One investment analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $63.80.

Centerspace Trading Down 2.0%

The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.87. The firm has a market cap of $899.60 million, a price-to-earnings ratio of 42.51 and a beta of 0.88. The business’s fifty day moving average is $56.08 and its two-hundred day moving average is $60.85.

Centerspace (NYSE:CSR) last posted its quarterly earnings data on Monday, August 3rd. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.06. Centerspace had a return on equity of 2.58% and a net margin of 7.97%.The firm had revenue of $65.78 million for the quarter, compared to the consensus estimate of $66.29 million. Centerspace has set its FY 2026 guidance at 4.580-4.680 EPS. Equities analysts anticipate that Centerspace will post 4.63 earnings per share for the current fiscal year.

Centerspace Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 14th. Stockholders of record on Monday, June 29th were given a dividend of $0.77 per share. The ex-dividend date was Monday, June 29th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 5.7%. Centerspace’s payout ratio is presently 244.44%.

Insider Buying and Selling at Centerspace

In other news, Director Rodney Jones-Tyson acquired 1,700 shares of the stock in a transaction that occurred on Monday, June 22nd. The stock was purchased at an average cost of $55.26 per share, for a total transaction of $93,942.00. Following the completion of the transaction, the director directly owned 7,877 shares in the company, valued at $435,283.02. This trade represents a 27.52% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John A. Schissel acquired 500 shares of the company’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 completion of the acquisition, the director directly owned 17,195 shares in the company, valued at approximately $944,005.50. The trade was a 2.99% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 0.49% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. BlackRock Inc. bought a new stake in shares of Centerspace during the second quarter worth approximately $167,912,000. Wellington Management Group LLP boosted its stake in Centerspace by 324.4% in the fourth quarter. Wellington Management Group LLP now owns 855,869 shares of the company’s stock valued at $57,104,000 after acquiring an additional 654,209 shares during the last quarter. Voss Capital LP acquired a new stake in Centerspace during the 4th quarter worth $22,068,000. Pacific Heights Asset Management LLC acquired a new stake in Centerspace during the 2nd quarter worth $16,857,000. Finally, Long Pond Capital LP raised its position in shares of Centerspace by 108.0% during the 4th quarter. Long Pond Capital LP now owns 444,101 shares of the company’s stock valued at $29,630,000 after acquiring an additional 230,638 shares during the last quarter. 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.