Centerspace (NYSE:CSR) Reaches New 12-Month High – Here’s What Happened

Shares of Centerspace (NYSE:CSR) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $69.16 and last traded at $68.4540, with a volume of 8988 shares trading hands. The stock had previously closed at $68.27.

Analysts Set New Price Targets

CSR has been the topic of several research analyst reports. Royal Bank Of Canada upped their price objective on shares of Centerspace from $68.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, February 19th. UBS Group lifted their target price on shares of Centerspace from $63.00 to $66.00 and gave the company a “neutral” rating in a research note on Thursday, January 8th. Piper Sandler upgraded Centerspace from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $69.00 to $72.00 in a research report on Tuesday, April 7th. Wells Fargo & Company cut their price objective on Centerspace from $74.00 to $69.00 and set an “equal weight” rating for the company in a research report on Thursday, March 5th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $65.00 price target on shares of Centerspace in a report on Monday, January 5th. Two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $68.83.

Centerspace Stock Up 0.2%

The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.04 and a current ratio of 0.04. The firm’s 50-day moving average is $62.05 and its two-hundred day moving average is $63.35. The stock has a market cap of $1.15 billion, a P/E ratio of 68.59 and a beta of 0.81.

Centerspace (NYSE:CSR) last announced its quarterly earnings data on Tuesday, February 17th. The company reported ($1.10) EPS for the quarter, missing analysts’ consensus estimates of $1.21 by ($2.31). The firm had revenue of $66.62 million during the quarter, compared to the consensus estimate of $69.77 million. Centerspace had a net margin of 6.25% and a return on equity of 2.00%. Centerspace has set its FY 2026 guidance at 4.810-5.050 EPS. On average, equities research analysts anticipate that Centerspace will post 4.82 earnings per share for the current year.

Centerspace Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 14th. Investors of record on Monday, March 30th were issued a $0.77 dividend. The ex-dividend date was Monday, March 30th. This represents a $3.08 annualized dividend and a yield of 4.5%. Centerspace’s dividend payout ratio (DPR) is currently 308.00%.

Institutional Trading of Centerspace

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sound Income Strategies LLC lifted its position in Centerspace by 67.4% during the 1st quarter. Sound Income Strategies LLC now owns 626 shares of the company’s stock valued at $36,000 after purchasing an additional 252 shares during the period. Covestor Ltd grew its position in shares of Centerspace by 57,100.0% during the 4th quarter. Covestor Ltd now owns 572 shares of the company’s stock worth $38,000 after buying an additional 571 shares during the period. Hantz Financial Services Inc. raised its stake in shares of Centerspace by 998.3% during the third quarter. Hantz Financial Services Inc. now owns 659 shares of the company’s stock worth $39,000 after buying an additional 599 shares during the last quarter. Danske Bank A S acquired a new position in Centerspace in the fourth quarter valued at approximately $47,000. Finally, Kestra Advisory Services LLC bought a new position in Centerspace in the fourth quarter valued at approximately $58,000. 79.00% of the stock is owned by institutional investors.

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.