Centerspace (NYSE:CSR) Reaches New 12-Month Low – Here’s Why

Centerspace (NYSE:CSR) shares hit a new 52-week low during trading on Tuesday . The company traded as low as $55.49 and last traded at $57.10, with a volume of 3560 shares. The stock had previously closed at $57.67.

Analyst Ratings Changes

CSR has been the topic of several research analyst reports. UBS Group began coverage on Centerspace in a report on Monday. They issued a “neutral” rating and a $67.00 price objective on the stock. Wedbush assumed coverage on Centerspace in a report on Tuesday, December 17th. They issued a “neutral” rating and a $72.00 target price for the company. Janney Montgomery Scott raised shares of Centerspace from a “neutral” rating to a “buy” rating and set a $72.00 price target on the stock in a research report on Wednesday, January 15th. Royal Bank of Canada raised their price objective on shares of Centerspace from $72.00 to $73.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Finally, Wells Fargo & Company initiated coverage on shares of Centerspace in a report on Wednesday, March 19th. They issued an “equal weight” rating and a $68.00 target price on the stock. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Centerspace has a consensus rating of “Hold” and an average target price of $73.30.

Centerspace Stock Up 1.2 %

The firm has a market cap of $976.05 million, a PE ratio of -46.16 and a beta of 0.79. The business has a 50-day moving average price of $63.27 and a two-hundred day moving average price of $66.83. The company has a quick ratio of 0.05, a current ratio of 0.04 and a debt-to-equity ratio of 0.74.

Centerspace (NYSE:CSR) last announced its quarterly earnings data on Tuesday, February 18th. The company reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $1.36. Centerspace had a negative return on equity of 1.34% and a negative net margin of 4.34%. The business had revenue of $66.41 million during the quarter, compared to analysts’ expectations of $65.96 million. On average, equities research analysts expect that Centerspace will post 4.94 EPS for the current year.

Centerspace Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 8th. Stockholders of record on Friday, March 28th will be given a dividend of $0.77 per share. This is a boost from Centerspace’s previous quarterly dividend of $0.75. This represents a $3.08 annualized dividend and a dividend yield of 5.28%. The ex-dividend date of this dividend is Friday, March 28th. Centerspace’s payout ratio is -242.52%.

Institutional Trading of Centerspace

A number of institutional investors have recently bought and sold shares of CSR. Smartleaf Asset Management LLC lifted its stake in Centerspace by 370.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 381 shares of the company’s stock worth $25,000 after purchasing an additional 300 shares during the last quarter. Sterling Capital Management LLC raised its stake in Centerspace by 903.8% during the 4th quarter. Sterling Capital Management LLC now owns 522 shares of the company’s stock worth $35,000 after acquiring an additional 470 shares in the last quarter. KBC Group NV lifted its position in Centerspace by 75.9% in the fourth quarter. KBC Group NV now owns 1,080 shares of the company’s stock valued at $71,000 after acquiring an additional 466 shares during the last quarter. Summit Investment Advisors Inc. boosted its stake in Centerspace by 15.2% in the fourth quarter. Summit Investment Advisors Inc. now owns 1,732 shares of the company’s stock valued at $115,000 after acquiring an additional 229 shares in the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Centerspace during the fourth quarter worth about $196,000. 79.00% of the stock is owned by hedge funds and other 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.