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

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

A number of other research analysts have also recently commented on the company. Weiss Ratings restated a “hold (c+)” rating on shares of Centerspace in a research note on Monday, December 29th. UBS Group lifted their price objective on Centerspace from $63.00 to $66.00 and gave the company a “neutral” rating in a research note on Thursday, January 8th. Royal Bank Of Canada boosted their price objective on Centerspace from $68.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, February 19th. Raymond James Financial reissued a “market perform” rating on shares of Centerspace in a research note on Wednesday, November 12th. Finally, Piper Sandler raised their target price on Centerspace from $66.00 to $69.00 and gave the company a “neutral” rating in a report on Thursday, February 19th. Two research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $69.57.

Centerspace Price Performance

Centerspace stock opened at $63.18 on Thursday. The company’s 50 day simple moving average is $64.38 and its 200-day simple moving average is $62.44. The company has a market capitalization of $1.06 billion, a price-to-earnings ratio of 63.18 and a beta of 0.79. Centerspace has a 1 year low of $52.76 and a 1 year high of $69.15. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.04 and a current ratio of 0.04.

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

Centerspace Dividend Announcement

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

Institutional Trading of Centerspace

A number of large investors have recently made changes to their positions in the company. Doliver Advisors LP lifted its stake in Centerspace by 3.0% in the fourth quarter. Doliver Advisors LP now owns 5,930 shares of the company’s stock worth $396,000 after acquiring an additional 170 shares during the last quarter. Amalgamated Bank increased its position in shares of Centerspace by 4.1% in the 3rd quarter. Amalgamated Bank now owns 4,927 shares of the company’s stock valued at $290,000 after purchasing an additional 194 shares during the last quarter. Captrust Financial Advisors increased its position in shares of Centerspace by 4.9% in the 4th quarter. Captrust Financial Advisors now owns 4,348 shares of the company’s stock valued at $290,000 after purchasing an additional 202 shares during the last quarter. State of Alaska Department of Revenue raised its holdings in shares of Centerspace by 1.2% in the 4th quarter. State of Alaska Department of Revenue now owns 17,657 shares of the company’s stock valued at $1,176,000 after purchasing an additional 212 shares in the last quarter. Finally, Engineers Gate Manager LP raised its holdings in shares of Centerspace by 6.4% in the 4th quarter. Engineers Gate Manager LP now owns 4,091 shares of the company’s stock valued at $273,000 after purchasing an additional 246 shares in the last quarter. 79.00% of the stock is currently 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. Centerspace was named a Top Workplace for the fourth consecutive year in 2023 by the Minneapolis Star Tribune.