Analysts Set Centerspace (NYSE:CSR) PT at $62.80

Shares of Centerspace (NYSE:CSR) have earned an average rating of “Hold” from the ten research firms that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and two have given a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $65.6667.

Several equities analysts have recently commented on the stock. Compass Point raised shares of Centerspace from a “neutral” rating to a “buy” rating and set a $80.00 target price on the stock in a report on Wednesday. Royal Bank Of Canada dropped their price objective on shares of Centerspace from $67.00 to $64.00 and set an “outperform” rating for the company in a report on Wednesday, August 5th. Weiss Ratings lowered Centerspace from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, August 19th. Zacks Research downgraded Centerspace from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 18th. Finally, Piper Sandler reduced their price objective on Centerspace from $60.00 to $58.00 and set a “neutral” rating on the stock in a research note on Thursday, August 27th.

Key Stories Impacting Centerspace

Here are the key news stories impacting Centerspace this week:

• Positive Sentiment: Independence Realty Trust and Centerspace agreed to combine in a merger valued at approximately $8.1 billion including debt. The deal would create a larger middle-market apartment REIT, potentially providing greater scale, diversification and operating efficiencies. Independence Realty Trust and Centerspace Agree to $8.1 Billion Merger
• Positive Sentiment: Under the proposed terms, Centerspace shareholders would receive 3.800 shares of IRT common stock for each CSR share. The market’s initial reaction indicates investors view the combination and implied consideration favorably, although the final value will depend on IRT’s share price before closing. Centerspace to Merge with Independence Realty Trust
• Neutral Sentiment: The merger is structured as a stock-for-stock transaction, and Centerspace investors would own approximately 22% of the combined company. The deal remains subject to customary approvals and closing conditions, so CSR’s ultimate proceeds are exposed to fluctuations in IRT’s stock price. Independence Realty Trust Announces Centerspace Acquisition Merger Agreement
• Negative Sentiment: Several law firms, including Ademi LLP, Monteverde & Associates, Halper Sadeh and Brodsky & Smith, announced investigations into whether the merger fairly values Centerspace and whether directors adequately protected shareholders. The reviews cite potential insider benefits and restrictions on competing offers; while common in announced mergers, they could increase execution and litigation risk. CSR Shareholder Alert: Ademi LLP Investigates Whether Buyout Fairly Values Centerspace

Insider Buying and Selling at Centerspace

In other Centerspace news, Director Rodney Jones-Tyson purchased 1,700 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The shares were bought at an average price of $55.26 per share, with a total value of $93,942.00. Following the completion of the purchase, the director directly owned 7,877 shares in the company, valued at $435,283.02. This trade represents a 27.52% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director John Schissel purchased 500 shares of the firm’s stock in a transaction that occurred on Thursday, June 18th. The shares were acquired at an average cost of $54.90 per share, for a total transaction of $27,450.00. Following the purchase, the director owned 17,195 shares of the company’s stock, valued at $944,005.50. This represents a 2.99% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 0.49% of the company’s stock.

Institutional Investors Weigh In On Centerspace

Several institutional investors have recently modified their holdings of CSR. Pacific Heights Asset Management LLC bought a new stake in Centerspace in the second quarter worth $16,857,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Centerspace in the second quarter valued at $1,091,000. Corient Private Wealth LP purchased a new stake in shares of Centerspace in the second quarter valued at $574,000. Bank of America Corp DE bought a new stake in shares of Centerspace in the 2nd quarter worth about $1,041,000. Finally, Jupiter Topco LLC bought a new stake in shares of Centerspace in the 2nd quarter worth about $354,000. 79.00% of the stock is owned by institutional investors.

Centerspace Stock Performance

NYSE:CSR opened at $57.35 on Thursday. The stock has a 50-day moving average price of $54.99 and a 200 day moving average price of $59.59. The stock has a market capitalization of $962.89 million, a P/E ratio of 45.52 and a beta of 0.86. Centerspace has a 12-month low of $52.00 and a 12-month high of $69.61. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.87.

Centerspace (NYSE:CSR) last posted its quarterly earnings results on Monday, August 3rd. The company reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.06. Centerspace had a return on equity of 2.58% and a net margin of 7.97%.The company had revenue of $65.78 million for the quarter, compared to analysts’ expectations of $66.29 million. Centerspace has set its FY 2026 guidance at 4.580-4.680 EPS. Equities research analysts forecast that Centerspace will post 4.67 EPS for the current fiscal year.

Centerspace Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 14th. Investors of record on Tuesday, September 29th will be issued a $0.77 dividend. The ex-dividend date of this dividend is Tuesday, September 29th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 5.4%. Centerspace’s dividend payout ratio (DPR) is 244.44%.

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.