Centerspace (NYSE:CSR) Shares Gap Down – Time to Sell?

Centerspace (NYSE:CSR) shares gapped down before the market opened on Tuesday . The stock had previously closed at $58.39, but opened at $55.30. Centerspace shares last traded at $56.3940, with a volume of 22,296 shares trading hands.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on CSR shares. Weiss Ratings raised shares of Centerspace from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, May 6th. Royal Bank Of Canada lowered their target price on shares of Centerspace from $71.00 to $67.00 and set an “outperform” rating for the company in a research note on Friday, June 5th. Wall Street Zen raised shares of Centerspace from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 17th. Piper Sandler raised 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 research report on Tuesday, April 7th. Finally, Wells Fargo & Company lifted their target price on Centerspace from $69.00 to $70.00 and gave the company an “equal weight” rating in a research report on Monday, June 1st. Two equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $68.80.

Centerspace Trading Down 0.4%

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 stock has a 50-day simple moving average of $64.35 and a two-hundred day simple moving average of $63.88. The firm has a market capitalization of $944.78 million, a P/E ratio of 125.09 and a beta of 0.88.

Centerspace (NYSE:CSR) last issued its earnings results on Monday, May 4th. The company reported ($0.77) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.48). The firm 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. On average, equities research analysts anticipate that Centerspace will post 4.85 earnings per share for the current year.

Centerspace Dividend Announcement

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

Hedge Funds Weigh In On Centerspace

A number of large investors have recently added to or reduced their stakes in the company. Doliver Advisors LP raised its holdings 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 purchasing an additional 170 shares in the last quarter. Avalon Trust Co raised its holdings in Centerspace by 36.3% in the first quarter. Avalon Trust Co now owns 709 shares of the company’s stock worth $41,000 after purchasing an additional 189 shares in the last quarter. Captrust Financial Advisors raised its holdings in Centerspace by 4.9% in the fourth quarter. Captrust Financial Advisors now owns 4,348 shares of the company’s stock worth $290,000 after purchasing an additional 202 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in Centerspace by 1.2% in the fourth quarter. State of Alaska Department of Revenue now owns 17,657 shares of the company’s stock worth $1,176,000 after purchasing an additional 212 shares in the last quarter. Finally, Engineers Gate Manager LP raised its holdings in Centerspace by 6.4% in the fourth quarter. Engineers Gate Manager LP now owns 4,091 shares of the company’s stock worth $273,000 after purchasing an additional 246 shares in the last quarter. 79.00% of the stock is currently owned by institutional investors.

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. Centerspace was named a Top Workplace for the fourth consecutive year in 2023 by the Minneapolis Star Tribune.