Centerspace (NYSE:CSR) Receives $69.57 Average Target Price from Analysts

Centerspace (NYSE:CSR) has earned an average rating of “Hold” from the eight research firms that are covering the firm, MarketBeat Ratings reports. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $69.5714.

Several equities research analysts recently issued reports on the company. Cantor Fitzgerald reiterated a “neutral” rating and issued a $65.00 price objective on shares of Centerspace in a report on Monday, January 5th. UBS Group increased their target price on Centerspace from $63.00 to $66.00 and gave the company a “neutral” rating in a report on Thursday, January 8th. Weiss Ratings restated a “hold (c+)” rating on shares of Centerspace in a research report on Monday, December 29th. Wells Fargo & Company lowered their price target on Centerspace from $74.00 to $69.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 5th. Finally, Wall Street Zen cut Centerspace from a “hold” rating to a “strong sell” rating in a research report on Saturday, February 21st.

Centerspace Stock Performance

CSR opened at $61.97 on Thursday. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.86. The company has a market cap of $1.04 billion, a price-to-earnings ratio of 61.97 and a beta of 0.79. Centerspace has a 52-week low of $52.76 and a 52-week high of $69.15. The firm’s fifty day simple moving average is $63.93 and its two-hundred day simple moving average is $62.62.

Centerspace (NYSE:CSR) last released its earnings results on Tuesday, February 17th. The company reported ($1.10) EPS for the quarter, missing analysts’ consensus estimates of $1.21 by ($2.31). Centerspace had a return on equity of 2.00% and a net margin of 6.25%.The company had revenue of $66.62 million for the quarter, compared to analysts’ expectations of $69.77 million. Centerspace has set its FY 2026 guidance at 4.810-5.050 EPS. Equities analysts anticipate that Centerspace will post 4.94 earnings per share for the current fiscal year.

Centerspace Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 14th. Stockholders of record on Monday, March 30th will be issued a dividend of $0.77 per share. The ex-dividend date of this dividend is Monday, March 30th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 5.0%. Centerspace’s dividend payout ratio is presently 308.00%.

Hedge Funds Weigh In On Centerspace

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Pacific Heights Asset Management LLC boosted its stake in Centerspace by 12.5% during the third quarter. Pacific Heights Asset Management LLC now owns 225,000 shares of the company’s stock worth $13,252,000 after buying an additional 25,000 shares during the last quarter. WINTON GROUP Ltd purchased a new position in shares of Centerspace during the 3rd quarter worth $1,691,000. Geode Capital Management LLC boosted its position in shares of Centerspace by 0.9% during the 2nd quarter. Geode Capital Management LLC now owns 435,025 shares of the company’s stock valued at $26,185,000 after acquiring an additional 4,090 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Centerspace by 10.5% in the third quarter. JPMorgan Chase & Co. now owns 224,583 shares of the company’s stock valued at $13,228,000 after purchasing an additional 21,337 shares during the period. Finally, Bank of Montreal Can increased its position in Centerspace by 414.6% during the second quarter. Bank of Montreal Can now owns 26,906 shares of the company’s stock worth $1,619,000 after purchasing an additional 21,677 shares during the last quarter. 79.00% of the stock is currently owned by institutional investors and hedge funds.

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.