Centerspace (NYSE:CSR) Receives $68.00 Average PT from Brokerages

Shares of Centerspace (NYSE:CSR) have been assigned a consensus recommendation of “Hold” from the ten research firms that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, five have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $68.00.

Several equities analysts recently commented on CSR shares. Weiss Ratings restated a “sell (d+)” rating on shares of Centerspace in a research report on Wednesday, October 8th. Wells Fargo & Company reduced their target price on Centerspace from $68.00 to $60.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 27th. UBS Group cut their price objective on Centerspace from $67.00 to $60.00 and set a “neutral” rating for the company in a report on Tuesday, July 15th. Wall Street Zen cut Centerspace from a “hold” rating to a “sell” rating in a report on Sunday, September 7th. Finally, Cantor Fitzgerald initiated coverage on Centerspace in a report on Wednesday, October 1st. They issued a “neutral” rating and a $62.00 price objective for the company.

Insider Transactions at Centerspace

In other news, CFO Bhairav Patel acquired 500 shares of the business’s stock in a transaction dated Friday, August 8th. The stock was purchased at an average cost of $54.00 per share, for a total transaction of $27,000.00. Following the acquisition, the chief financial officer owned 3,733 shares of the company’s stock, valued at $201,582. This trade represents a 15.47% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Anne Olson bought 750 shares of the company’s stock in a transaction that occurred on Friday, August 8th. The shares were bought at an average price of $55.10 per share, with a total value of $41,325.00. Following the completion of the acquisition, the chief executive officer directly owned 19,496 shares in the company, valued at $1,074,229.60. This trade represents a 4.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders bought 1,750 shares of company stock worth $95,325. 0.44% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Centerspace

Institutional investors and hedge funds have recently bought and sold shares of the stock. Hilltop National Bank bought a new position in Centerspace during the 2nd quarter worth approximately $29,000. Wolff Wiese Magana LLC grew its position in Centerspace by 897.3% during the 2nd quarter. Wolff Wiese Magana LLC now owns 748 shares of the company’s stock worth $45,000 after acquiring an additional 673 shares during the last quarter. New Age Alpha Advisors LLC bought a new position in Centerspace during the 1st quarter worth approximately $86,000. PNC Financial Services Group Inc. grew its position in Centerspace by 103.4% during the 2nd quarter. PNC Financial Services Group Inc. now owns 2,176 shares of the company’s stock worth $131,000 after acquiring an additional 1,106 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its position in Centerspace by 64.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,252 shares of the company’s stock worth $136,000 after acquiring an additional 879 shares during the last quarter. 79.00% of the stock is currently owned by institutional investors.

Centerspace Price Performance

Centerspace stock opened at $59.90 on Monday. Centerspace has a 52 week low of $52.76 and a 52 week high of $75.92. The business has a 50-day simple moving average of $57.89 and a 200 day simple moving average of $59.54. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.97. The stock has a market cap of $1.00 billion, a price-to-earnings ratio of -33.27 and a beta of 0.73.

Centerspace (NYSE:CSR) last posted its earnings results on Monday, August 4th. The company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.26 by $0.02. Centerspace had a negative return on equity of 2.81% and a negative net margin of 9.13%.The business had revenue of $68.55 million during the quarter, compared to analysts’ expectations of $67.89 million. Centerspace has set its FY 2025 guidance at 4.880-5.000 EPS. On average, research analysts forecast that Centerspace will post 4.94 earnings per share for the current fiscal year.

Centerspace Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Monday, September 29th were issued a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date was Monday, September 29th. Centerspace’s dividend payout ratio is presently -171.11%.

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.