Brokerages Set Centerspace (NYSE:CSR) Target Price at $69.57

Centerspace (NYSE:CSR) has earned an average rating of “Hold” from the eight ratings firms that are currently covering the company, Marketbeat.com reports. Six analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $69.5714.

A number of equities analysts have issued reports on CSR shares. Wells Fargo & Company cut their target price on Centerspace from $74.00 to $69.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 5th. Royal Bank Of Canada raised their price target on shares of Centerspace from $68.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, February 19th. Piper Sandler lifted their price target on shares of Centerspace from $66.00 to $69.00 and gave the stock a “neutral” rating in a research note on Thursday, February 19th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Centerspace in a report on Monday, December 29th. Finally, Wall Street Zen downgraded shares of Centerspace from a “hold” rating to a “strong sell” rating in a research note on Saturday, February 21st.

Centerspace Stock Down 0.7%

Shares of Centerspace stock opened at $59.73 on Thursday. Centerspace has a 1-year low of $52.76 and a 1-year high of $69.15. The company has a market capitalization of $1.00 billion, a PE ratio of 59.73 and a beta of 0.79. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.04 and a quick ratio of 0.04. The business has a 50-day moving average of $63.57 and a 200-day moving average of $62.65.

Centerspace (NYSE:CSR) last released its quarterly earnings results on Tuesday, February 17th. The company reported ($1.10) EPS for the quarter, missing the consensus estimate of $1.21 by ($2.31). The business had revenue of $66.62 million during the quarter, compared to analyst estimates of $69.77 million. Centerspace had a return on equity of 2.00% and a net margin of 6.25%.Centerspace has set its FY 2026 guidance at 4.810-5.050 EPS. As a group, equities analysts forecast that Centerspace will post 4.94 EPS for the current fiscal year.

Centerspace Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 14th. Stockholders of record on Monday, March 30th will be paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date is Monday, March 30th. Centerspace’s dividend payout ratio is 308.00%.

Hedge Funds Weigh In On Centerspace

Hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP increased its holdings in Centerspace by 324.4% in the fourth quarter. Wellington Management Group LLP now owns 855,869 shares of the company’s stock valued at $57,104,000 after buying an additional 654,209 shares during the last quarter. Voss Capital LP bought a new position in Centerspace during the 4th quarter worth approximately $22,068,000. Land & Buildings Investment Management LLC grew its position in shares of Centerspace by 96.4% in the 3rd quarter. Land & Buildings Investment Management LLC now owns 599,252 shares of the company’s stock worth $35,296,000 after acquiring an additional 294,086 shares in the last quarter. Long Pond Capital LP grew its position in shares of Centerspace by 108.0% in the 4th quarter. Long Pond Capital LP now owns 444,101 shares of the company’s stock worth $29,630,000 after acquiring an additional 230,638 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in shares of Centerspace by 307.3% in the 1st quarter. Millennium Management LLC now owns 184,051 shares of the company’s stock valued at $11,917,000 after acquiring an additional 138,861 shares during the last quarter. 79.00% of the stock is currently owned by institutional investors and hedge funds.

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.