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

Centerspace (NYSE:CSR) has earned an average rating of “Hold” from the eight ratings firms that are currently covering the firm, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $68.80.

CSR has been the subject of a number of research analyst reports. Weiss Ratings downgraded shares of Centerspace from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, June 17th. BTIG Research downgraded shares of Centerspace from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 16th. Piper Sandler raised shares of Centerspace from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $69.00 to $72.00 in a research report on Tuesday, April 7th. UBS Group raised their target price on shares of Centerspace from $66.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. Finally, Wells Fargo & Company upped their price target on shares of Centerspace from $69.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Monday, June 1st.

Insider Transactions at Centerspace

In related news, Director John A. Schissel bought 500 shares of the company’s stock in a transaction that occurred on Thursday, June 18th. The shares were acquired at an average cost of $54.90 per share, for a total transaction of $27,450.00. Following the acquisition, the director owned 17,195 shares in the company, valued at $944,005.50. This represents a 2.99% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Rodney Jones-Tyson purchased 1,700 shares of Centerspace stock in a transaction that occurred on Monday, June 22nd. The shares were bought at an average cost of $55.26 per share, for a total transaction of $93,942.00. Following the completion of the transaction, the director directly owned 7,877 shares in the company, valued at $435,283.02. This represents a 27.52% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.49% of the stock is currently owned by company insiders.

Institutional Trading of Centerspace

A number of hedge funds have recently made changes to their positions in the company. Wellington Management Group LLP boosted its position in Centerspace by 324.4% in the 4th quarter. Wellington Management Group LLP now owns 855,869 shares of the company’s stock valued at $57,104,000 after buying an additional 654,209 shares during the last quarter. Voss Capital LP acquired a new position in shares of Centerspace in the fourth quarter worth about $22,068,000. Land & Buildings Investment Management LLC boosted its holdings in Centerspace by 96.4% in the third quarter. Land & Buildings Investment Management LLC now owns 599,252 shares of the company’s stock valued at $35,296,000 after purchasing an additional 294,086 shares during the last quarter. Long Pond Capital LP boosted its holdings in Centerspace by 108.0% in the fourth quarter. Long Pond Capital LP now owns 444,101 shares of the company’s stock valued at $29,630,000 after purchasing an additional 230,638 shares during the last quarter. Finally, Millennium Management LLC grew its stake in Centerspace by 307.3% during the 1st quarter. Millennium Management LLC now owns 184,051 shares of the company’s stock valued at $11,917,000 after purchasing an additional 138,861 shares in the last quarter. Hedge funds and other institutional investors own 79.00% of the company’s stock.

Centerspace Price Performance

CSR stock opened at $55.66 on Wednesday. The stock has a 50-day moving average price of $60.28 and a two-hundred day moving average price of $62.31. Centerspace has a 12-month low of $52.76 and a 12-month high of $69.61. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.88. The company has a market cap of $935.09 million, a PE ratio of 123.69 and a beta of 0.89.

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

Centerspace Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 14th. Stockholders of record on Monday, June 29th were given a $0.77 dividend. The ex-dividend date of this dividend was Monday, June 29th. This represents a $3.08 annualized dividend and a dividend yield of 5.5%. 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.