Centerspace (NYSE:CSR) Price Target Raised to $63.00

Centerspace (NYSE:CSR) had its price objective boosted by UBS Group from $60.00 to $63.00 in a research report report published on Monday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other analysts have also recently issued reports on the stock. Wall Street Zen raised shares of Centerspace from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Piper Sandler reduced their price objective on Centerspace from $68.00 to $66.00 and set a “neutral” rating on the stock in a research note on Monday. Wells Fargo & Company reduced their target price on shares of Centerspace from $68.00 to $60.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 27th. Weiss Ratings upgraded Centerspace from a “sell (d+)” rating to a “hold (c)” rating in a report on Friday, November 7th. Finally, Cantor Fitzgerald initiated coverage on shares of Centerspace in a research report on Wednesday, October 1st. They issued a “neutral” rating and a $62.00 price objective on the stock. Three research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, Centerspace presently has a consensus rating of “Hold” and a consensus price target of $68.11.

Centerspace Price Performance

NYSE CSR opened at $66.81 on Monday. Centerspace has a 52 week low of $52.76 and a 52 week high of $75.92. The firm has a market capitalization of $1.12 billion, a P/E ratio of -37.12 and a beta of 0.75. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.97. The company has a 50-day moving average price of $59.40 and a 200-day moving average price of $59.71.

Centerspace (NYSE:CSR) last released its quarterly earnings results on Monday, November 3rd. The company reported $1.19 earnings per share for the quarter, missing the consensus estimate of $1.22 by ($0.03). Centerspace had a negative return on equity of 2.81% and a negative net margin of 9.13%.The business had revenue of $71.40 million during the quarter, compared to the consensus estimate of $69.07 million. Centerspace has set its FY 2025 guidance at 4.880-4.960 EPS. Equities research analysts anticipate that Centerspace will post 4.94 earnings per share for the current year.

Centerspace Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Monday, September 29th were given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 4.6%. The ex-dividend date of this dividend was Monday, September 29th. Centerspace’s dividend payout ratio is presently 172.07%.

Institutional Trading of Centerspace

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Centerspace by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 2,603,360 shares of the company’s stock valued at $168,568,000 after purchasing an additional 8,994 shares during the last quarter. Geode Capital Management LLC lifted its position in Centerspace by 0.9% during the second quarter. Geode Capital Management LLC now owns 435,025 shares of the company’s stock valued at $26,185,000 after purchasing an additional 4,090 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Centerspace by 2.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 241,651 shares of the company’s stock valued at $14,232,000 after buying an additional 4,707 shares during the period. Pacific Heights Asset Management LLC lifted its holdings in Centerspace by 12.5% in the third quarter. Pacific Heights Asset Management LLC now owns 225,000 shares of the company’s stock valued at $13,252,000 after acquiring an additional 25,000 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in Centerspace by 10.5% during the third quarter. JPMorgan Chase & Co. now owns 224,583 shares of the company’s stock worth $13,228,000 after buying an additional 21,337 shares in the last quarter. Hedge funds and other institutional investors own 79.00% of the company’s stock.

About Centerspace

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.