Centerspace (NYSE:CSR) Receives $74.43 Consensus Price Target from Analysts

Shares of Centerspace (NYSE:CSR) have earned a consensus rating of “Hold” from the seven ratings firms that are covering the company, Marketbeat.com reports. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $74.43.

Several brokerages have weighed in on CSR. Royal Bank of Canada boosted their price objective on Centerspace from $72.00 to $73.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Janney Montgomery Scott raised Centerspace from a “neutral” rating to a “buy” rating and set a $72.00 target price on the stock in a research report on Wednesday, January 15th. Finally, Wedbush initiated coverage on Centerspace in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $72.00 price target for the company.

Centerspace Stock Up 0.0 %

NYSE CSR opened at $64.78 on Friday. The stock has a 50 day moving average price of $62.84 and a 200-day moving average price of $68.59. Centerspace has a one year low of $54.50 and a one year high of $76.16. The company has a market capitalization of $1.08 billion, a P/E ratio of -51.00 and a beta of 0.91. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.05 and a current ratio of 0.04.

Centerspace (NYSE:CSR) last released its quarterly earnings data on Tuesday, February 18th. The company reported $1.21 EPS for the quarter, beating the consensus estimate of ($0.15) by $1.36. Centerspace had a negative net margin of 4.34% and a negative return on equity of 1.34%. The business had revenue of $66.41 million during the quarter, compared to analyst estimates of $65.96 million. As a group, equities analysts predict that Centerspace will post 4.94 EPS for the current fiscal year.

Centerspace Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 8th. Investors of record on Friday, March 28th will be given a dividend of $0.77 per share. The ex-dividend date of this dividend is Friday, March 28th. This is a positive change from Centerspace’s previous quarterly dividend of $0.75. This represents a $3.08 dividend on an annualized basis and a yield of 4.75%. Centerspace’s payout ratio is presently -242.52%.

Institutional Investors Weigh In On Centerspace

A number of institutional investors have recently made changes to their positions in the stock. Smartleaf Asset Management LLC lifted its stake in Centerspace by 370.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 381 shares of the company’s stock worth $25,000 after acquiring an additional 300 shares in the last quarter. Sterling Capital Management LLC boosted its stake in shares of Centerspace by 903.8% in the fourth quarter. Sterling Capital Management LLC now owns 522 shares of the company’s stock valued at $35,000 after purchasing an additional 470 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Centerspace by 35.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 579 shares of the company’s stock valued at $41,000 after purchasing an additional 150 shares in the last quarter. Loomis Sayles & Co. L P lifted its holdings in Centerspace by 3,131.6% during the 3rd quarter. Loomis Sayles & Co. L P now owns 614 shares of the company’s stock worth $43,000 after buying an additional 595 shares in the last quarter. Finally, KBC Group NV boosted its position in Centerspace by 75.9% in the 4th quarter. KBC Group NV now owns 1,080 shares of the company’s stock valued at $71,000 after buying an additional 466 shares during the period. 79.00% of the stock is currently owned by institutional investors and hedge funds.

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.