Centerspace (NYSE:CSR) Hits New 12-Month Low at $73.34

Centerspace (NYSE:CSRGet Rating) reached a new 52-week low on Friday . The stock traded as low as $73.34 and last traded at $73.37, with a volume of 1296 shares changing hands. The stock had previously closed at $74.31.

Analysts Set New Price Targets

Several research firms have weighed in on CSR. Royal Bank of Canada lifted their target price on Centerspace from $82.00 to $86.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 3rd. Raymond James reissued a “downgrade” rating on shares of Centerspace in a research report on Thursday, August 4th. Piper Sandler lowered their price objective on Centerspace from $100.00 to $95.00 and set an “overweight” rating for the company in a research report on Wednesday, July 20th. Finally, Compass Point boosted their price objective on Centerspace to $100.00 in a research report on Tuesday, August 9th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Centerspace currently has an average rating of “Moderate Buy” and an average price target of $104.00.

Centerspace Stock Performance

The stock has a 50-day moving average price of $81.15 and a 200 day moving average price of $86.86. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of -31.15, a P/E/G ratio of 2.38 and a beta of 0.94.

Centerspace (NYSE:CSRGet Rating) last announced its quarterly earnings results on Monday, August 1st. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.33. Centerspace had a negative return on equity of 3.13% and a negative net margin of 12.20%. During the same period in the prior year, the business earned $0.95 earnings per share. On average, analysts forecast that Centerspace will post 4.45 EPS for the current year.

Centerspace Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 11th. Investors of record on Friday, September 30th will be issued a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a yield of 3.91%. The ex-dividend date of this dividend is Thursday, September 29th. Centerspace’s dividend payout ratio (DPR) is -121.67%.

Hedge Funds Weigh In On Centerspace

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Legal & General Group Plc boosted its holdings in Centerspace by 8.9% in the second quarter. Legal & General Group Plc now owns 129,993 shares of the company’s stock valued at $10,601,000 after purchasing an additional 10,671 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Centerspace by 44.9% in the second quarter. Goldman Sachs Group Inc. now owns 29,935 shares of the company’s stock valued at $2,441,000 after buying an additional 9,275 shares during the last quarter. Captrust Financial Advisors purchased a new stake in Centerspace in the second quarter valued at approximately $46,000. Meiji Yasuda Asset Management Co Ltd. lifted its stake in Centerspace by 71.8% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 4,306 shares of the company’s stock valued at $351,000 after buying an additional 1,799 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its stake in Centerspace by 23.6% in the second quarter. Thrivent Financial for Lutherans now owns 15,095 shares of the company’s stock valued at $1,231,000 after buying an additional 2,882 shares during the last quarter. 83.48% of the stock is owned by institutional investors and hedge funds.

About Centerspace

(Get Rating)

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 June 30, 2021, Centerspace owned 62 apartment communities consisting of 11,579 apartment homes located in Colorado, Minnesota, Montana, Nebraska, North Dakota, and South Dakota.

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