Analysts Set Centerspace (NYSE:CSR) PT at $68.00

Centerspace (NYSE:CSR) has earned a consensus rating of “Moderate Buy” from the ten brokerages that are covering the company, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $68.00.

A number of equities analysts have recently weighed in on CSR shares. Wall Street Zen raised shares of Centerspace from a “sell” rating to a “hold” rating in a research report on Saturday. Wells Fargo & Company cut their price target on Centerspace from $68.00 to $60.00 and set an “equal weight” rating for the company in a report on Wednesday, August 27th. Cantor Fitzgerald started coverage on Centerspace in a research note on Wednesday, October 1st. They set a “neutral” rating and a $62.00 price target on the stock. UBS Group decreased their price objective on Centerspace from $67.00 to $60.00 and set a “neutral” rating on the stock in a report on Tuesday, July 15th. Finally, Weiss Ratings upgraded Centerspace from a “sell (d+)” rating to a “hold (c)” rating in a research note on Friday.

Centerspace Trading Down 0.3%

Shares of Centerspace stock opened at $59.82 on Friday. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.05 and a quick ratio of 0.05. Centerspace has a 1 year low of $52.76 and a 1 year high of $75.92. The company has a market capitalization of $999.17 million, a P/E ratio of -33.23 and a beta of 0.75. The business has a 50 day moving average price of $59.09 and a 200 day moving average price of $59.62.

Centerspace (NYSE:CSR) last posted its quarterly earnings data on Monday, November 3rd. The company reported $1.19 EPS for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.03). The company had revenue of $71.40 million for the quarter, compared to analysts’ expectations of $69.07 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 4.880-4.960 EPS. Sell-side analysts anticipate that Centerspace will post 4.94 EPS for the current fiscal year.

Centerspace Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Monday, September 29th were paid a dividend of $0.77 per share. The ex-dividend date of this dividend was Monday, September 29th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 5.1%. Centerspace’s dividend payout ratio is currently 172.07%.

Institutional Investors Weigh In On Centerspace

Institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. lifted its position in Centerspace by 10.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 224,583 shares of the company’s stock worth $13,228,000 after acquiring an additional 21,337 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in Centerspace by 43.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 3,111 shares of the company’s stock valued at $183,000 after purchasing an additional 935 shares in the last quarter. Aberdeen Group plc increased its stake in Centerspace by 13.9% during the 3rd quarter. Aberdeen Group plc now owns 5,270 shares of the company’s stock worth $304,000 after buying an additional 645 shares during the period. BTC Capital Management Inc. purchased a new stake in Centerspace during the 3rd quarter worth $252,000. Finally, Metis Global Partners LLC acquired a new position in Centerspace in the 3rd quarter worth $222,000. 79.00% of the stock is currently owned by hedge funds and other institutional investors.

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.