Analysts Set Centerspace (NYSE:CSR) PT at $69.86

Shares of Centerspace (NYSE:CSR) have been assigned a consensus rating of “Hold” from the eight analysts that are presently covering the stock, Marketbeat Ratings reports. Six analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $69.8571.

Several equities research analysts have issued reports on CSR shares. Wall Street Zen upgraded Centerspace from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Raymond James Financial reissued a “market perform” rating on shares of Centerspace in a report on Wednesday, November 12th. Wells Fargo & Company raised their target price on Centerspace from $60.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Monday, November 17th. Piper Sandler reduced their target price on Centerspace from $68.00 to $66.00 and set a “neutral” rating for the company in a report on Monday, November 10th. Finally, UBS Group increased their price target on shares of Centerspace from $63.00 to $66.00 and gave the stock a “neutral” rating in a report on Thursday, January 8th.

Centerspace Price Performance

Shares of NYSE:CSR opened at $62.82 on Friday. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 0.96. The firm has a market capitalization of $1.05 billion, a PE ratio of 35.10 and a beta of 0.78. Centerspace has a twelve month low of $52.76 and a twelve month high of $69.15. The company has a 50-day moving average price of $65.10 and a two-hundred day moving average price of $61.76.

Centerspace (NYSE:CSR) last posted its quarterly earnings results on Tuesday, February 17th. The company reported ($1.10) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.21 by ($2.31). The business had revenue of $66.62 million during the quarter, compared to the consensus estimate of $69.77 million. Centerspace had a net margin of 11.14% and a return on equity of 3.52%. Centerspace has set its FY 2026 guidance at 4.810-5.050 EPS. Equities analysts forecast that Centerspace will post 4.94 EPS for the current year.

Centerspace Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, January 12th. Shareholders of record on Tuesday, December 30th were paid a $0.77 dividend. The ex-dividend date was Tuesday, December 30th. This represents a $3.08 annualized dividend and a yield of 4.9%. Centerspace’s dividend payout ratio is currently 172.07%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CSR. Pacific Heights Asset Management LLC boosted its stake in Centerspace by 12.5% in the third quarter. Pacific Heights Asset Management LLC now owns 225,000 shares of the company’s stock worth $13,252,000 after buying an additional 25,000 shares in the last quarter. Phocas Financial Corp. lifted its holdings in shares of Centerspace by 120.0% in the 2nd quarter. Phocas Financial Corp. now owns 122,028 shares of the company’s stock worth $7,345,000 after acquiring an additional 66,565 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Centerspace by 0.9% in the 2nd quarter. Geode Capital Management LLC now owns 435,025 shares of the company’s stock valued at $26,185,000 after purchasing an additional 4,090 shares in the last quarter. Bank of Montreal Can grew its holdings in shares of Centerspace by 414.6% during the 2nd quarter. Bank of Montreal Can now owns 26,906 shares of the company’s stock valued at $1,619,000 after purchasing an additional 21,677 shares during the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC grew its holdings in shares of Centerspace by 131.9% during the 2nd quarter. Cbre Investment Management Listed Real Assets LLC now owns 133,241 shares of the company’s stock valued at $8,020,000 after purchasing an additional 75,773 shares during the last quarter. 79.00% of the stock is currently owned by hedge funds and other institutional investors.

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.