Centerspace (NYSE:CSR) Hits New 1-Year Low – What’s Next?

Shares of Centerspace (NYSE:CSR) hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $53.33 and last traded at $53.0750, with a volume of 1745 shares trading hands. The stock had previously closed at $53.42.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Piper Sandler lowered their price objective on shares of Centerspace from $60.00 to $58.00 and set a “neutral” rating for the company in a research report on Thursday. Zacks Research lowered Centerspace from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 18th. BTIG Research cut Centerspace from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 16th. Weiss Ratings downgraded Centerspace from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, August 19th. Finally, Wall Street Zen raised Centerspace from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. One research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Centerspace has a consensus rating of “Hold” and an average target price of $63.40.

Centerspace Stock Performance

The stock has a market capitalization of $881.14 million, a price-to-earnings ratio of 41.65 and a beta of 0.88. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.87. The stock’s 50 day moving average is $55.53 and its two-hundred day moving average is $60.21.

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

Centerspace Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 14th. Investors of record on Monday, June 29th were given a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 5.9%. The ex-dividend date of this dividend was Monday, June 29th. Centerspace’s dividend payout ratio (DPR) is currently 244.44%.

Insider Buying and Selling

In other news, Director Rodney Jones-Tyson bought 1,700 shares of the business’s stock in a transaction on Monday, June 22nd. The shares were purchased at an average price of $55.26 per share, for a total transaction of $93,942.00. Following the purchase, the director owned 7,877 shares of the company’s stock, valued at approximately $435,283.02. The trade was a 27.52% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John A. Schissel purchased 500 shares of Centerspace stock in a transaction on Thursday, June 18th. The shares were purchased at an average cost of $54.90 per share, with a total value of $27,450.00. Following the transaction, the director owned 17,195 shares in the company, valued at approximately $944,005.50. The trade was a 2.99% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.49% of the stock is currently owned by company insiders.

Institutional Trading of Centerspace

A number of institutional investors have recently made changes to their positions in CSR. Sound Income Strategies LLC grew its position in Centerspace by 67.4% in the first quarter. Sound Income Strategies LLC now owns 626 shares of the company’s stock valued at $36,000 after purchasing an additional 252 shares in the last quarter. Covestor Ltd lifted its position in Centerspace by 57,100.0% during the 4th quarter. Covestor Ltd now owns 572 shares of the company’s stock worth $38,000 after buying an additional 571 shares in the last quarter. Avalon Trust Co lifted its position in Centerspace by 36.3% during the 1st quarter. Avalon Trust Co now owns 709 shares of the company’s stock worth $41,000 after buying an additional 189 shares in the last quarter. Danske Bank A S bought a new stake in Centerspace during the 4th quarter worth about $47,000. Finally, Kestra Advisory Services LLC acquired a new position in shares of Centerspace during the 4th quarter worth about $58,000. Institutional investors own 79.00% of the company’s stock.

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. Centerspace was named a Top Workplace for the fourth consecutive year in 2023 by the Minneapolis Star Tribune.