Brokerages Set Centerspace (NYSE:CSR) Target Price at $68.75

Shares of Centerspace (NYSE:CSR) have received an average recommendation of “Moderate Buy” from the eight research firms that are currently covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $68.75.

Several equities analysts have recently weighed in on CSR shares. Wells Fargo & Company cut their target price on Centerspace from $68.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 27th. UBS Group cut their price objective on Centerspace from $67.00 to $60.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 15th. Finally, Wall Street Zen downgraded Centerspace from a “hold” rating to a “sell” rating in a research report on Sunday, September 7th.

Insider Buying and Selling at Centerspace

In other Centerspace news, CFO Bhairav Patel acquired 500 shares of the business’s stock in a transaction on Friday, August 8th. The shares were bought at an average price of $54.00 per share, with a total value of $27,000.00. Following the transaction, the chief financial officer directly owned 3,733 shares of the company’s stock, valued at $201,582. The trade was a 15.47% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director John A. Schissel acquired 500 shares of the business’s stock in a transaction on Friday, August 8th. The stock was acquired at an average cost of $54.00 per share, for a total transaction of $27,000.00. Following the transaction, the director directly owned 14,398 shares in the company, valued at $777,492. The trade was a 3.60% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 1,750 shares of company stock valued at $95,325 in the last quarter. 0.44% of the stock is owned by insiders.

Hedge Funds Weigh In On Centerspace

Hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets bought a new position in shares of Centerspace during the 4th quarter worth $687,000. Bank of America Corp DE grew its position in shares of Centerspace by 24.0% during the 4th quarter. Bank of America Corp DE now owns 29,488 shares of the company’s stock worth $1,951,000 after buying an additional 5,702 shares in the last quarter. Captrust Financial Advisors grew its position in shares of Centerspace by 14.0% during the 4th quarter. Captrust Financial Advisors now owns 3,780 shares of the company’s stock worth $250,000 after buying an additional 464 shares in the last quarter. Deutsche Bank AG grew its position in shares of Centerspace by 28.5% during the 4th quarter. Deutsche Bank AG now owns 19,400 shares of the company’s stock worth $1,283,000 after buying an additional 4,301 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Centerspace by 7.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,503 shares of the company’s stock worth $959,000 after buying an additional 1,024 shares in the last quarter. Institutional investors own 79.00% of the company’s stock.

Centerspace Stock Performance

NYSE CSR opened at $58.60 on Thursday. The company has a market cap of $982.14 million, a P/E ratio of -32.56 and a beta of 0.75. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.05 and a current ratio of 0.05. The business’s 50 day moving average price is $57.32 and its 200-day moving average price is $60.10. Centerspace has a fifty-two week low of $52.76 and a fifty-two week high of $75.92.

Centerspace (NYSE:CSR) last released its earnings results on Monday, August 4th. The company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.02. The firm had revenue of $68.55 million for the quarter, compared to the consensus estimate of $67.89 million. Centerspace had a negative return on equity of 2.81% and a negative net margin of 9.13%. Centerspace has set its FY 2025 guidance at 4.880-5.000 EPS. Sell-side analysts predict that Centerspace will post 4.94 earnings per share for the current year.

Centerspace Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Monday, September 29th will be given a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 5.3%. The ex-dividend date of this dividend is Monday, September 29th. Centerspace’s dividend payout ratio is -171.11%.

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.