Centerspace (NYSE:CSR) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

Centerspace (NYSE:CSR) had its price objective hoisted by Royal Bank of Canada from $71.00 to $72.00 in a research note released on Monday morning,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

Several other analysts have also recently issued reports on CSR. Wells Fargo & Company began coverage on Centerspace in a research note on Wednesday, March 19th. They set an “equal weight” rating and a $68.00 price objective on the stock. UBS Group started coverage on shares of Centerspace in a research report on Monday, April 7th. They set a “neutral” rating and a $67.00 price objective for the company. Raymond James raised shares of Centerspace from a “market perform” rating to an “outperform” rating and set a $66.00 target price on the stock in a report on Monday, April 21st. Janney Montgomery Scott upgraded Centerspace from a “neutral” rating to a “buy” rating and set a $72.00 price objective for the company in a research report on Wednesday, January 15th. Finally, BMO Capital Markets raised Centerspace from a “market perform” rating to an “outperform” rating and set a $77.00 target price on the stock in a research report on Friday, April 4th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $71.22.

Centerspace Stock Down 0.3 %

Shares of Centerspace stock opened at $60.76 on Monday. Centerspace has a 1-year low of $54.13 and a 1-year high of $76.16. The company has a market capitalization of $1.02 billion, a PE ratio of -47.84 and a beta of 0.77. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.04 and a quick ratio of 0.05. The business has a 50-day moving average of $61.46 and a 200-day moving average of $64.90.

Centerspace (NYSE:CSR) last released its quarterly earnings results on Thursday, May 1st. The company reported $1.21 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.21. The business had revenue of $67.09 million during the quarter, compared to the consensus estimate of $66.70 million. Centerspace had a negative net margin of 4.34% and a negative return on equity of 1.34%. As a group, equities analysts forecast that Centerspace will post 4.94 EPS for the current fiscal year.

Centerspace Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 8th. Shareholders of record on Friday, March 28th were issued a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 5.07%. This is an increase from Centerspace’s previous quarterly dividend of $0.75. The ex-dividend date was Friday, March 28th. Centerspace’s dividend payout ratio is presently -275.00%.

Institutional Trading of Centerspace

Several institutional investors and hedge funds have recently added to or reduced their stakes in CSR. Smartleaf Asset Management LLC increased its holdings in shares of Centerspace by 370.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 381 shares of the company’s stock valued at $25,000 after buying an additional 300 shares in the last quarter. Sterling Capital Management LLC increased its stake in Centerspace by 903.8% in the 4th quarter. Sterling Capital Management LLC now owns 522 shares of the company’s stock worth $35,000 after purchasing an additional 470 shares in the last quarter. KBC Group NV raised its holdings in Centerspace by 75.9% during the 4th quarter. KBC Group NV now owns 1,080 shares of the company’s stock worth $71,000 after buying an additional 466 shares during the period. Summit Investment Advisors Inc. lifted its stake in Centerspace by 15.2% during the fourth quarter. Summit Investment Advisors Inc. now owns 1,732 shares of the company’s stock valued at $115,000 after buying an additional 229 shares in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of Centerspace in the fourth quarter worth about $196,000. 79.00% of the stock is owned by institutional investors and hedge funds.

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.