Centerspace (NYSE:CSR) Stock Gets Price Target Cut from Piper Sandler

Centerspace (NYSE:CSR) had its target price cut by Piper Sandler from $58.00 to $56.00 in a report released on Monday,Benzinga reports. They currently have a neutral rating on the stock.

Other analysts have also recently issued research reports about the company. Royal Bank Of Canada reduced their price objective on Centerspace from $67.00 to $64.00 and set an “outperform” rating for the company in a research report on Wednesday, August 5th. BTIG Research lowered Centerspace from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 16th. Weiss Ratings lowered Centerspace from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, August 19th. Zacks Research downgraded Centerspace from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 18th. Finally, Wells Fargo & Company cut their price target on Centerspace from $60.00 to $57.00 and set an “equal weight” rating for the company in a research note on Tuesday, September 1st. Two investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $63.17.

Centerspace Stock Down 1.0%

CSR stock opened at $55.48 on Monday. Centerspace has a 12-month low of $52.00 and a 12-month high of $69.61. 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 company has a market cap of $933.11 million, a price-to-earnings ratio of 44.03 and a beta of 0.84. The company has a 50 day moving average of $54.99 and a two-hundred day moving average of $58.65.

Centerspace (NYSE:CSR) last issued its earnings results on Monday, August 3rd. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.06. Centerspace had a net margin of 7.97% and a return on equity of 2.58%. The company had revenue of $65.78 million during the quarter, compared to analyst estimates of $66.29 million. Centerspace has set its FY 2026 guidance at 4.580-4.680 EPS. On average, equities analysts anticipate that Centerspace will post 4.67 earnings per share for the current fiscal year.

Centerspace Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 14th. Shareholders of record on Tuesday, September 29th were issued a $0.77 dividend. The ex-dividend date of this dividend was Tuesday, September 29th. This represents a $3.08 dividend on an annualized basis and a yield of 5.6%. Centerspace’s dividend payout ratio (DPR) is 244.44%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Pacific Heights Asset Management LLC acquired a new position in shares of Centerspace during the second quarter valued at about $16,857,000. Bank of New York Mellon Corp acquired a new stake in Centerspace during the second quarter worth about $7,190,000. Legal & General Group Plc acquired a new stake in Centerspace during the second quarter worth about $5,386,000. BlackRock Inc. acquired a new stake in Centerspace during the second quarter worth about $167,912,000. Finally, Diamond Hill Capital Management LLC Investment Advisor bought a new position in Centerspace during the second quarter valued at about $7,009,000. 79.00% of the stock is owned by institutional investors.

About Centerspace

Centerspace (NYSE:CSR) is a real estate investment trust that owns, operates and manages apartment communities. The company focuses on providing rental housing and generating income through multifamily properties, with operations concentrated in select markets across the Upper Midwest and Mountain West regions of the United States.

Its portfolio includes apartment communities serving a range of residents and household needs. Centerspace is involved in property management, leasing, resident services, maintenance and the ongoing improvement of its communities.