Centerspace (NYSE:CSR) Shares Break Above Two Hundred Day Moving Average – Here’s What Happened

Centerspace (NYSE:CSR)’s share price passed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $59.49 and traded as high as $59.81. Centerspace shares last traded at $59.5860, with a volume of 253,804 shares trading hands.

Wall Street Analysts Forecast Growth

CSR has been the subject of several analyst reports. Zacks Research raised Centerspace from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 13th. Wells Fargo & Company reduced their target price on Centerspace from $57.00 to $53.00 and set an “equal weight” rating on the stock in a report on Monday, October 19th. UBS Group reduced their target price on Centerspace from $68.00 to $65.00 and set a “neutral” rating on the stock in a report on Wednesday, October 14th. Royal Bank Of Canada decreased their price target on Centerspace from $67.00 to $64.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 5th. Finally, Wall Street Zen raised Centerspace from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Two analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $62.50.

Centerspace Trading Up 4.1%

The business’s fifty day moving average is $55.69 and its 200-day moving average is $59.49. The firm has a market cap of $1.00 billion, a P/E ratio of 11.14 and a beta of 0.82. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.03 and a current ratio of 0.34.

Centerspace (NYSE:CSR) last released its earnings results on Monday, November 2nd. The company reported $7.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $7.13. Centerspace had a net margin of 35.40% and a return on equity of 10.82%. The business had revenue of $59.52 million during the quarter, compared to the consensus estimate of $62.74 million. Analysts predict that Centerspace will post 4.67 EPS for the current year.

Centerspace Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 14th. Shareholders of record on Tuesday, September 29th were paid a dividend of $0.77 per share. The ex-dividend date was Tuesday, September 29th. This represents a $3.08 dividend on an annualized basis and a yield of 5.2%. Centerspace’s payout ratio is 244.44%.

Hedge Funds Weigh In On Centerspace

Several large investors have recently bought and sold shares of the stock. Avalon Trust Co grew its position in Centerspace by 36.3% in the 1st quarter. Avalon Trust Co now owns 709 shares of the company’s stock worth $41,000 after purchasing an additional 189 shares in the last quarter. Sound Income Strategies LLC lifted its position in shares of 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 buying an additional 252 shares in the last quarter. Amundi boosted its stake in shares of Centerspace by 4.4% in the 1st quarter. Amundi now owns 11,052 shares of the company’s stock worth $635,000 after buying an additional 462 shares during the last quarter. Resona Asset Management Co. Ltd. boosted its stake in shares of Centerspace by 7.2% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 7,502 shares of the company’s stock worth $431,000 after buying an additional 504 shares during the last quarter. Finally, Pinnacle Wealth Planning Services Inc. bought a new position in shares of Centerspace in the third quarter valued at approximately $41,000. 79.00% of the stock is currently owned by institutional investors.

Centerspace Company Profile

Centerspace (NYSE:CSR) is a real estate investment trust focused on the ownership, acquisition, development and operation of multifamily apartment communities. The company provides residential housing through a portfolio of apartment properties and generates revenue primarily from rents and related resident services.

Centerspace serves markets in the Mountain West and Midwest, with communities located in states including Colorado, Minnesota, Montana, Nebraska, North Dakota and South Dakota.