Centerspace (NYSE:CSR) Receives $68.80 Consensus Target Price from Brokerages

Centerspace (NYSE:CSR) has received a consensus rating of “Hold” from the eight analysts that are covering the stock, MarketBeat.com reports. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month price target among brokers that have covered the stock in the last year is $68.80.

CSR has been the subject of a number of recent research reports. UBS Group lifted their price target on shares of Centerspace from $66.00 to $70.00 and gave the company a “neutral” rating in a research report on Thursday, May 14th. Wells Fargo & Company raised their target price on shares of Centerspace from $69.00 to $70.00 and gave the company an “equal weight” rating in a research note on Monday, June 1st. Weiss Ratings lowered shares of Centerspace from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, June 17th. Piper Sandler upgraded shares of Centerspace from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $69.00 to $72.00 in a report on Tuesday, April 7th. Finally, Wall Street Zen raised Centerspace from a “strong sell” rating to a “sell” rating in a research report on Sunday, May 17th.

Centerspace Price Performance

CSR opened at $55.66 on Wednesday. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.88. The company has a market cap of $935.09 million, a price-to-earnings ratio of 123.69 and a beta of 0.89. The stock has a fifty day simple moving average of $60.28 and a two-hundred day simple moving average of $62.35. Centerspace has a 12-month low of $52.76 and a 12-month high of $69.61.

Centerspace (NYSE:CSR) last announced its earnings results on Monday, May 4th. The company reported ($0.77) EPS for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.48). The business had revenue of $65.07 million for the quarter, compared to the consensus estimate of $66.54 million. Centerspace had a net margin of 2.93% and a return on equity of 0.94%. Centerspace has set its FY 2026 guidance at 4.810-5.050 EPS. Research analysts predict that Centerspace will post 4.85 earnings per share for the current fiscal year.

Centerspace Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 14th. Stockholders of record on Monday, June 29th were paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date of this dividend was Monday, June 29th. Centerspace’s dividend payout ratio is currently 684.44%.

Insiders Place Their Bets

In related news, Director Rodney Jones-Tyson purchased 1,700 shares of Centerspace stock in a transaction dated Monday, June 22nd. The stock was purchased at an average cost of $55.26 per share, for a total transaction of $93,942.00. Following the completion of the acquisition, the director directly owned 7,877 shares of the company’s stock, valued at $435,283.02. The trade was a 27.52% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director John A. Schissel purchased 500 shares of the stock in a transaction dated Thursday, June 18th. The stock was bought at an average cost of $54.90 per share, with a total value of $27,450.00. Following the transaction, the director owned 17,195 shares in the company, valued at $944,005.50. The trade was a 2.99% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 0.49% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Land & Buildings Investment Management LLC raised its holdings in shares of Centerspace by 96.4% during the third quarter. Land & Buildings Investment Management LLC now owns 599,252 shares of the company’s stock valued at $35,296,000 after purchasing an additional 294,086 shares during the last quarter. Diamond Hill Capital Management Inc. bought a new position in Centerspace during the fourth quarter valued at approximately $3,163,000. JPMorgan Chase & Co. boosted its holdings in Centerspace by 10.5% in the third quarter. JPMorgan Chase & Co. now owns 224,583 shares of the company’s stock worth $13,228,000 after purchasing an additional 21,337 shares during the last quarter. Systematic Financial Management LP boosted its holdings in Centerspace by 19.7% in the fourth quarter. Systematic Financial Management LP now owns 305,533 shares of the company’s stock worth $20,385,000 after purchasing an additional 50,350 shares during the last quarter. Finally, Voss Capital LP bought a new stake in Centerspace in the 4th quarter worth approximately $22,068,000. 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. Centerspace was named a Top Workplace for the fourth consecutive year in 2023 by the Minneapolis Star Tribune.