Centerspace (NYSE:CSR) Hits New 12-Month Low on Analyst Downgrade

Shares of Centerspace (NYSE:CSR) reached a new 52-week low on Tuesday after Zacks Research downgraded the stock from a hold rating to a strong sell rating. The stock traded as low as $53.65 and last traded at $53.5670, with a volume of 76915 shares traded. The stock had previously closed at $54.64.

Other research analysts also recently issued research reports about the company. Wall Street Zen upgraded Centerspace from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. UBS Group raised their target price on shares of Centerspace from $66.00 to $70.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Weiss Ratings upgraded shares of Centerspace from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 4th. Piper Sandler lowered their price objective on shares of Centerspace from $64.00 to $60.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 21st. Finally, Wells Fargo & Company reduced their target price on shares of Centerspace from $70.00 to $60.00 and set an “equal weight” rating for the company in a report on Wednesday, July 22nd. One equities 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 stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $63.80.

Insider Activity at Centerspace

In other Centerspace news, Director John A. Schissel purchased 500 shares of the firm’s stock in a transaction that occurred on Thursday, June 18th. The shares were purchased at an average cost of $54.90 per share, for a total transaction of $27,450.00. Following the completion of the purchase, the director directly owned 17,195 shares in the company, valued at $944,005.50. This represents a 2.99% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Rodney Jones-Tyson acquired 1,700 shares of the company’s stock in a transaction that occurred on 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 directly owned 7,877 shares of the company’s stock, valued at $435,283.02. This trade represents a 27.52% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.49% of the stock is owned by company insiders.

Hedge Funds Weigh In On Centerspace

Large investors have recently made changes to their positions in the stock. Avalon Trust Co boosted its holdings in Centerspace by 36.3% during the first 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. Captrust Financial Advisors increased its holdings in Centerspace by 4.9% in the fourth quarter. Captrust Financial Advisors now owns 4,348 shares of the company’s stock valued at $290,000 after buying an additional 202 shares in the last quarter. Engineers Gate Manager LP lifted its position in shares of Centerspace by 6.4% during the 4th quarter. Engineers Gate Manager LP now owns 4,091 shares of the company’s stock valued at $273,000 after acquiring an additional 246 shares during the period. State of Tennessee Department of Treasury boosted its stake in shares of Centerspace by 3.7% during the 2nd quarter. State of Tennessee Department of Treasury now owns 6,877 shares of the company’s stock worth $414,000 after acquiring an additional 247 shares in the last quarter. Finally, Sound Income Strategies LLC grew 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 worth $36,000 after acquiring an additional 252 shares during the period. Hedge funds and other institutional investors own 79.00% of the company’s stock.

Centerspace Trading Up 1.7%

The firm has a market cap of $910.19 million, a price-to-earnings ratio of 43.02 and a beta of 0.88. The business has a fifty day moving average of $55.92 and a two-hundred day moving average of $60.71. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.03 and a current ratio of 0.03.

Centerspace (NYSE:CSR) last posted its earnings results on Monday, August 3rd. The company reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.06. The company 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. As a group, equities analysts expect that Centerspace will post 4.67 earnings per share for the current fiscal year.

Centerspace Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 14th. Stockholders of record on Monday, June 29th were paid a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date of this dividend was Monday, June 29th. Centerspace’s dividend payout ratio (DPR) is 244.44%.

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.