Centerspace (NYSE:CSR) Shares Gap Down – Time to Sell?

Centerspace (NYSE:CSR)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $58.39, but opened at $55.30. Centerspace shares last traded at $56.3940, with a volume of 22,296 shares trading hands.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on CSR shares. UBS Group upped their target price on Centerspace from $66.00 to $70.00 and gave the company a “neutral” rating in a research report on Thursday, May 14th. Wells Fargo & Company upped their target price on Centerspace from $69.00 to $70.00 and gave the company an “equal weight” rating in a research report on Monday, June 1st. Weiss Ratings raised Centerspace from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, May 6th. Piper Sandler raised Centerspace from a “neutral” rating to an “overweight” rating and upped their target price for the company from $69.00 to $72.00 in a research report on Tuesday, April 7th. Finally, Royal Bank Of Canada dropped 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. Two investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $68.80.

Centerspace Trading Down 0.4%

The stock has a 50-day moving average of $64.35 and a 200 day moving average of $63.88. The stock has a market cap of $944.78 million, a PE ratio of 125.09 and a beta of 0.88. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.88.

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

Centerspace Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 14th. Investors of record on Monday, June 29th will be given a $0.77 dividend. The ex-dividend date is Monday, June 29th. This represents a $3.08 dividend on an annualized basis and a yield of 5.5%. Centerspace’s dividend payout ratio is currently 684.44%.

Institutional Investors Weigh In On Centerspace

A number of large investors have recently bought and sold shares of the company. Wellington Management Group LLP boosted its position in Centerspace by 324.4% in the fourth 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. Land & Buildings Investment Management LLC boosted its stake in shares of Centerspace by 96.4% in the third quarter. Land & Buildings Investment Management LLC now owns 599,252 shares of the company’s stock worth $35,296,000 after buying an additional 294,086 shares during the last quarter. Long Pond Capital LP boosted its stake in shares of Centerspace by 108.0% in the fourth quarter. Long Pond Capital LP now owns 444,101 shares of the company’s stock worth $29,630,000 after buying an additional 230,638 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Centerspace by 9.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 340,286 shares of the company’s stock worth $22,704,000 after buying an additional 28,809 shares during the last quarter. Finally, Voss Capital LP purchased a new stake in shares of Centerspace in the fourth quarter worth about $22,068,000. Hedge funds and other institutional investors own 79.00% of the company’s stock.

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.