Centerspace (NYSE:CSR – Free Report) had its target price hoisted by UBS Group from $65.00 to $68.00 in a research note issued to investors on Tuesday morning,Benzinga reports. UBS Group currently has a neutral rating on the stock.
CSR has been the subject of a number of other reports. Cantor Fitzgerald reissued a “neutral” rating and set a $57.00 price target on shares of Centerspace in a research note on Thursday, September 10th. Royal Bank Of Canada cut their price objective on Centerspace from $67.00 to $64.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 5th. Wells Fargo & Company reduced their target price on Centerspace from $57.00 to $53.00 and set an “equal weight” rating on the stock in a research note on Monday, October 19th. Piper Sandler reduced their target price on Centerspace from $58.00 to $56.00 and set a “neutral” rating on the stock in a research note on Monday, October 12th. Finally, Weiss Ratings downgraded Centerspace from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, August 19th. Two research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $63.00.
View Our Latest Research Report on Centerspace
Centerspace Stock Performance
Shares of NYSE:CSR opened at $56.40 on Tuesday. The company has a market capitalization of $948.65 million, a price-to-earnings ratio of 10.54 and a beta of 0.82. Centerspace has a 12 month low of $52.00 and a 12 month high of $69.61. The firm’s 50-day moving average is $56.25 and its 200 day moving average is $59.27. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.56.
Centerspace (NYSE:CSR – Get Free Report) last announced its quarterly earnings data on Monday, November 2nd. The company reported $7.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $7.13. Centerspace had a net margin of 35.40% and a return on equity of 10.82%. The business had revenue of $59.52 million during the quarter, compared to the consensus estimate of $62.74 million. Research analysts predict that Centerspace will post 4.67 EPS for the current year.
Centerspace Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 14th. Shareholders of record on Tuesday, September 29th were issued a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 5.5%. The ex-dividend date of this dividend was Tuesday, September 29th. Centerspace’s dividend payout ratio (DPR) is currently 57.57%.
Hedge Funds Weigh In On Centerspace
Several hedge funds have recently modified their holdings of CSR. BlackRock Inc. purchased a new position in shares of Centerspace in the 2nd quarter valued at approximately $167,912,000. Pacific Heights Asset Management LLC purchased a new stake in Centerspace during the 2nd quarter worth approximately $16,857,000. Dimensional Fund Advisors LP increased its stake in Centerspace by 0.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 238,535 shares of the company’s stock valued at $13,704,000 after purchasing an additional 2,139 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in Centerspace during the 2nd quarter valued at approximately $7,190,000. Finally, Diamond Hill Capital Management LLC Investment Advisor acquired a new position in Centerspace during the 2nd quarter valued at approximately $7,009,000. Institutional investors and hedge funds own 79.00% of the company’s stock.
About Centerspace
Centerspace is a real estate investment trust that owns and operates apartment communities. Its business includes leasing residential units and providing property management and resident services. The company’s portfolio is concentrated in the Upper Midwest and Mountain West, including markets such as Minneapolis–St. Paul, Denver, Colorado Springs and Omaha. Centerspace was formerly known as Investors Real Estate Trust (IRET) and adopted its current name in 2021 as it focused its business on apartment communities.
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