Centerspace (NYSE:CSR) Price Target Lowered to $69.00 at Wells Fargo & Company

Centerspace (NYSE:CSR) had its price target reduced by Wells Fargo & Company from $74.00 to $69.00 in a research report released on Thursday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Several other research analysts have also recently commented on the company. Piper Sandler boosted their price target on Centerspace from $66.00 to $69.00 and gave the stock a “neutral” rating in a research note on Thursday, February 19th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $65.00 target price on shares of Centerspace in a research report on Monday, January 5th. Royal Bank Of Canada increased their target price on Centerspace from $68.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, February 19th. Wall Street Zen downgraded shares of Centerspace from a “hold” rating to a “strong sell” rating in a research report on Saturday, February 21st. Finally, UBS Group upped their price target on shares of Centerspace from $63.00 to $66.00 and gave the company a “neutral” rating in a report on Thursday, January 8th. Two investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $69.57.

Centerspace Price Performance

Shares of CSR stock opened at $62.26 on Thursday. The firm has a fifty day simple moving average of $64.47 and a 200-day simple moving average of $62.35. The company has a market capitalization of $1.04 billion, a PE ratio of 62.26 and a beta of 0.79. Centerspace has a twelve month low of $52.76 and a twelve month high of $69.15. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.86.

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

Centerspace Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 14th. Stockholders of record on Monday, March 30th will be issued a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date is Monday, March 30th. Centerspace’s payout ratio is 308.00%.

Hedge Funds Weigh In On Centerspace

Several large investors have recently added to or reduced their stakes in the company. Covestor Ltd boosted its holdings in 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. Hantz Financial Services Inc. lifted its position in shares of Centerspace by 998.3% in the 3rd quarter. Hantz Financial Services Inc. now owns 659 shares of the company’s stock worth $39,000 after buying an additional 599 shares during the last quarter. Danske Bank A S acquired a new position in shares of Centerspace in the 4th quarter valued at about $47,000. Kestra Advisory Services LLC bought a new stake in shares of Centerspace during the 4th quarter valued at about $58,000. Finally, GAMMA Investing LLC raised its stake in Centerspace by 107.0% during the fourth quarter. GAMMA Investing LLC now owns 942 shares of the company’s stock worth $63,000 after acquiring an additional 487 shares during the period. 79.00% of the stock is currently owned by institutional investors.

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.