Centerspace (NYSE:CSR) Sets New 1-Year High at $75.76

Centerspace (NYSE:CSR)’s share price reached a new 52-week high on Thursday . The stock traded as high as $75.76 and last traded at $75.43, with a volume of 8214 shares traded. The stock had previously closed at $75.00.

Wall Street Analyst Weigh In

CSR has been the topic of a number of recent research reports. Royal Bank of Canada raised their price objective on Centerspace from $72.00 to $73.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Piper Sandler raised their price target on Centerspace from $64.00 to $75.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Raymond James lifted their price target on Centerspace from $75.00 to $82.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Finally, BTIG Research increased their price objective on Centerspace from $69.00 to $79.00 and gave the company a “buy” rating in a research note on Monday, August 12th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $72.29.

Centerspace Stock Performance

The business has a fifty day moving average of $71.42 and a 200-day moving average of $65.90. The company has a market cap of $1.11 billion, a PE ratio of -92.76, a P/E/G ratio of 2.21 and a beta of 0.90. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.79.

Centerspace (NYSE:CSR) last issued its quarterly earnings data on Monday, July 29th. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of $1.20 by ($1.39). The business had revenue of $65.04 million during the quarter, compared to the consensus estimate of $65.90 million. Centerspace had a negative return on equity of 0.67% and a negative net margin of 2.16%. During the same quarter in the prior year, the business posted $1.28 earnings per share. Equities research analysts anticipate that Centerspace will post 4.83 earnings per share for the current fiscal year.

Centerspace Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date of this dividend is Monday, September 30th. Centerspace’s payout ratio is -375.00%.

Hedge Funds Weigh In On Centerspace

A number of institutional investors have recently bought and sold shares of the stock. Westwood Holdings Group Inc. bought a new stake in Centerspace during the 4th quarter valued at approximately $5,238,000. Cbre Investment Management Listed Real Assets LLC bought a new stake in shares of Centerspace during the fourth quarter valued at approximately $1,708,000. UniSuper Management Pty Ltd grew its stake in Centerspace by 199.4% in the first quarter. UniSuper Management Pty Ltd now owns 12,785 shares of the company’s stock worth $731,000 after purchasing an additional 8,515 shares during the period. Boston Partners bought a new position in Centerspace in the first quarter worth $545,000. Finally, Van ECK Associates Corp raised its holdings in Centerspace by 19.7% in the fourth quarter. Van ECK Associates Corp now owns 2,118 shares of the company’s stock worth $123,000 after purchasing an additional 348 shares in the last quarter. 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.