Centerspace (NYSE:CSR) Reaches New 12-Month Low – What’s Next?

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

Analysts Set New Price Targets

Several research analysts have weighed in on CSR shares. Piper Sandler set a $58.00 price objective on shares of Centerspace in a research note on Thursday. UBS Group increased 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. Royal Bank Of Canada decreased their target price on shares of Centerspace from $67.00 to $64.00 and set an “outperform” rating for the company in a research note on Wednesday, August 5th. Weiss Ratings cut shares of Centerspace from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, August 19th. Finally, Wells Fargo & Company dropped their price target on shares of Centerspace from $70.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 22nd. One investment analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $63.40.

Centerspace Stock Down 0.3%

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 business’s fifty day moving average price is $55.65 and its two-hundred day moving average price is $60.35. The firm has a market cap of $894.70 million, a P/E ratio of 42.21 and a beta of 0.88.

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

Centerspace Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 14th. Investors of record on Monday, June 29th were paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date of this dividend was Monday, June 29th. Centerspace’s dividend payout ratio (DPR) is presently 244.44%.

Insider Buying and Selling

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CSR. Sound Income Strategies LLC lifted its position in Centerspace by 67.4% during 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 last quarter. Covestor Ltd increased its stake in shares of Centerspace by 57,100.0% in the fourth quarter. Covestor Ltd now owns 572 shares of the company’s stock worth $38,000 after purchasing an additional 571 shares during the period. Avalon Trust Co increased its stake in shares of Centerspace by 36.3% in the first quarter. Avalon Trust Co now owns 709 shares of the company’s stock worth $41,000 after purchasing an additional 189 shares during the period. Danske Bank A S bought a new position in shares of Centerspace in the fourth 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. 79.00% of the stock is currently owned by institutional investors and hedge funds.

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.