Analysts Set Centerspace (NYSE:CSR) Target Price at $64.71

Shares of Centerspace (NYSE:CSR) have been given a consensus rating of “Moderate Buy” by the seven research firms that are covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $65.57.

A number of equities analysts have recently issued reports on the stock. Piper Sandler restated a “neutral” rating and set a $63.00 target price on shares of Centerspace in a research report on Tuesday. Royal Bank of Canada reiterated an “outperform” rating and set a $63.00 price target on shares of Centerspace in a research note on Friday, March 22nd.

Insider Activity at Centerspace

In other news, Director John A. Schissel acquired 500 shares of the business’s stock in a transaction on Monday, March 11th. The stock was bought at an average price of $56.40 per share, for a total transaction of $28,200.00. Following the transaction, the director now owns 9,522 shares in the company, valued at $537,040.80. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.86% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Centerspace

Large investors have recently modified their holdings of the business. Charles Schwab Investment Management Inc. grew its holdings in Centerspace by 3.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 247,845 shares of the company’s stock worth $14,935,000 after acquiring an additional 9,179 shares during the period. Dark Forest Capital Management LP acquired a new position in shares of Centerspace during the 3rd quarter worth $549,000. Panagora Asset Management Inc. purchased a new position in shares of Centerspace in the 3rd quarter valued at about $886,000. New York State Teachers Retirement System lifted its stake in shares of Centerspace by 6.6% in the third quarter. New York State Teachers Retirement System now owns 18,510 shares of the company’s stock valued at $1,115,000 after purchasing an additional 1,146 shares during the period. Finally, Swiss National Bank boosted its holdings in Centerspace by 1.2% during the third quarter. Swiss National Bank now owns 32,900 shares of the company’s stock worth $1,983,000 after buying an additional 400 shares in the last quarter. 79.00% of the stock is owned by hedge funds and other institutional investors.

Centerspace Trading Up 1.5 %

NYSE:CSR opened at $57.14 on Friday. The company has a market capitalization of $859.96 million, a PE ratio of 24.52, a P/E/G ratio of 1.68 and a beta of 0.93. Centerspace has a 52-week low of $46.74 and a 52-week high of $66.99. The stock’s 50 day moving average price is $55.79 and its 200 day moving average price is $55.81. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.74.

Centerspace Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 8th. Stockholders of record on Thursday, March 28th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 5.25%. The ex-dividend date is Wednesday, March 27th. This is a boost from Centerspace’s previous quarterly dividend of $0.73. Centerspace’s dividend payout ratio is 125.32%.

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.