Centerspace (NYSE:CSR) Sets New 12-Month Low – Should You Sell?

Centerspace (NYSE:CSR) shares hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $52.00 and last traded at $52.6970, with a volume of 208647 shares traded. The stock had previously closed at $52.90.

Analyst Ratings Changes

CSR has been the subject of a number of research analyst reports. BTIG Research cut Centerspace from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 16th. Wells Fargo & Company lowered their price target on shares of Centerspace from $60.00 to $57.00 and set an “equal weight” rating on the stock in a research note on Tuesday, September 1st. Zacks Research cut Centerspace from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 18th. Wall Street Zen raised shares of Centerspace from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, UBS Group boosted their price objective on shares of Centerspace from $66.00 to $70.00 and gave the stock a “neutral” rating in a research note on Thursday, May 14th. One analyst has rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Centerspace presently has a consensus rating of “Hold” and an average price target of $62.80.

Centerspace Trading Down 0.3%

The company has a market cap of $885.25 million, a price-to-earnings ratio of 42.21 and a beta of 0.86. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.87. The business’s 50 day moving average price is $55.05 and its 200-day moving average price is $59.72.

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

Centerspace Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 14th. Stockholders of record on Tuesday, September 29th will be paid a dividend of $0.77 per share. The ex-dividend date is Tuesday, September 29th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 5.8%. Centerspace’s dividend payout ratio (DPR) is 244.44%.

Insider Buying and Selling at Centerspace

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

Institutional Investors Weigh In On Centerspace

Institutional investors have recently made changes to their positions in the stock. Diamond Hill Capital Management Inc. bought a new stake in shares of Centerspace during the 4th quarter valued at $3,163,000. BlackRock Inc. acquired a new stake in shares of Centerspace in the 2nd quarter valued at approximately $167,912,000. Diamond Hill Capital Management LLC Investment Advisor bought a new stake in shares of Centerspace during the second quarter worth $7,009,000. ABS Investment Management LLC acquired a new position in Centerspace in the 2nd quarter worth about $1,404,750. Finally, Systematic Financial Management LP increased its stake in shares of Centerspace by 19.7% in the fourth quarter. Systematic Financial Management LP now owns 305,533 shares of the company’s stock valued at $20,385,000 after buying an additional 50,350 shares during the period. 79.00% of the stock is currently 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.