Centerspace (NYSE:CSR) Price Target Raised to $71.00

Centerspace (NYSE:CSR) had its price target upped by Royal Bank Of Canada from $70.00 to $71.00 in a research report report published on Wednesday,Benzinga reports. Royal Bank Of Canada currently has an outperform rating on the stock.

Other analysts have also recently issued reports about the company. Piper Sandler raised Centerspace from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $69.00 to $72.00 in a research report on Tuesday, April 7th. Wall Street Zen raised Centerspace from a “strong sell” rating to a “sell” rating in a research report on Saturday, April 11th. UBS Group lifted their price objective on Centerspace from $63.00 to $66.00 and gave the company a “neutral” rating in a research report on Thursday, January 8th. Finally, Wells Fargo & Company cut their price objective on Centerspace from $74.00 to $69.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 5th. Two analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Centerspace presently has an average rating of “Hold” and a consensus target price of $68.67.

Centerspace Stock Up 0.2%

NYSE CSR opened at $67.60 on Wednesday. The business’s 50-day moving average is $62.33 and its 200 day moving average is $63.55. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.03 and a quick ratio of 0.04. The stock has a market capitalization of $1.14 billion, a PE ratio of 150.23 and a beta of 0.89. Centerspace has a 1 year low of $52.76 and a 1 year high of $69.61.

Centerspace (NYSE:CSR) last posted its quarterly earnings data on Monday, May 4th. The company reported ($0.77) earnings per share for the quarter, missing the consensus estimate of ($0.29) by ($0.48). The firm had revenue of $65.07 million for the quarter, compared to the consensus estimate 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. Sell-side analysts forecast that Centerspace will post 4.85 earnings per share for the current year.

Centerspace Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 14th. Stockholders of record on Monday, March 30th were given a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend was Monday, March 30th. Centerspace’s payout ratio is currently 684.44%.

Institutional Trading of Centerspace

A number of hedge funds have recently made changes to their positions in CSR. Wellington Management Group LLP boosted its position in shares of Centerspace by 324.4% in the 4th quarter. Wellington Management Group LLP now owns 855,869 shares of the company’s stock worth $57,104,000 after purchasing an additional 654,209 shares in the last quarter. Voss Capital LP bought a new stake in shares of Centerspace in the 4th quarter worth approximately $22,068,000. Land & Buildings Investment Management LLC boosted its position in shares of Centerspace by 96.4% in the 3rd quarter. Land & Buildings Investment Management LLC now owns 599,252 shares of the company’s stock worth $35,296,000 after purchasing an additional 294,086 shares in the last quarter. Long Pond Capital LP boosted its position in shares of Centerspace by 108.0% in the 4th quarter. Long Pond Capital LP now owns 444,101 shares of the company’s stock worth $29,630,000 after purchasing an additional 230,638 shares in the last quarter. Finally, Millennium Management LLC boosted its position in shares of Centerspace by 307.3% in the 1st quarter. Millennium Management LLC now owns 184,051 shares of the company’s stock worth $11,917,000 after purchasing an additional 138,861 shares in the last quarter. 79.00% of the stock is owned by institutional investors.

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.