Brokerages Set Centerspace (NYSE:CSR) PT at $68.80

Shares of Centerspace (NYSE:CSR) have earned an average recommendation of “Hold” from the eight ratings firms that are presently covering the stock, Marketbeat reports. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $68.80.

A number of equities research analysts recently issued reports on the company. Piper Sandler raised Centerspace from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $69.00 to $72.00 in a research note on Tuesday, April 7th. Royal Bank Of Canada cut their price target on Centerspace from $71.00 to $67.00 and set an “outperform” rating on the stock in a research note on Friday, June 5th. UBS Group upped their price objective on shares of Centerspace from $66.00 to $70.00 and gave the stock a “neutral” rating in a research note on Thursday, May 14th. Wells Fargo & Company raised their target price on shares of Centerspace from $69.00 to $70.00 and gave the company an “equal weight” rating in a research report on Monday, June 1st. Finally, BTIG Research lowered shares of Centerspace from a “buy” rating to a “neutral” rating in a report on Tuesday, June 16th.

Insider Activity at Centerspace

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CSR. Sound Income Strategies LLC increased its holdings in shares of Centerspace by 67.4% in the 1st quarter. Sound Income Strategies LLC now owns 626 shares of the company’s stock valued at $36,000 after acquiring an additional 252 shares during the period. Covestor Ltd increased its holdings in shares of Centerspace by 57,100.0% in the 4th quarter. Covestor Ltd now owns 572 shares of the company’s stock valued at $38,000 after acquiring an additional 571 shares during the period. Avalon Trust Co increased its holdings in shares of Centerspace by 36.3% in the 1st quarter. Avalon Trust Co now owns 709 shares of the company’s stock valued at $41,000 after acquiring an additional 189 shares during the period. Danske Bank A S purchased a new position in shares of Centerspace in the 4th quarter valued at $47,000. Finally, Kestra Advisory Services LLC purchased a new position in shares of Centerspace in the 4th quarter valued at $58,000. 79.00% of the stock is currently owned by hedge funds and other institutional investors.

Centerspace Price Performance

Shares of CSR stock opened at $57.01 on Friday. Centerspace has a 52-week low of $52.76 and a 52-week high of $69.61. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.03 and a current ratio of 0.03. The firm has a market capitalization of $957.80 million, a P/E ratio of 126.69 and a beta of 0.88. The stock has a 50 day moving average price of $63.35 and a 200 day moving average price of $63.27.

Centerspace (NYSE:CSR) last issued its quarterly earnings results on Monday, May 4th. The company reported ($0.77) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.48). Centerspace had a return on equity of 0.94% and a net margin of 2.93%.The business had revenue of $65.07 million for the quarter, compared to the consensus estimate of $66.54 million. Centerspace has set its FY 2026 guidance at 4.810-5.050 EPS. As a group, sell-side analysts predict that Centerspace will post 4.85 earnings per share for the current year.

Centerspace Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders of record on Monday, June 29th will be given a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 5.4%. The ex-dividend date of this dividend is Monday, June 29th. Centerspace’s dividend payout ratio is presently 684.44%.

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