Piper Sandler Boosts Centerspace (NYSE:CSR) Price Target to $64.00

Centerspace (NYSE:CSR) had its price objective raised by Piper Sandler from $63.00 to $64.00 in a research report sent to investors on Monday morning, Benzinga reports. They currently have a neutral rating on the stock.

A number of other equities analysts have also commented on the stock. Royal Bank of Canada raised their price objective on shares of Centerspace from $66.00 to $68.00 and gave the stock an outperform rating in a research note on Wednesday, May 1st. Compass Point cut Centerspace from a buy rating to a neutral rating and raised their target price for the stock from $65.00 to $68.00 in a research report on Friday, May 3rd. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Hold and an average price target of $66.33.

Centerspace Trading Up 3.2 %

Shares of NYSE CSR opened at $70.93 on Monday. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.77. Centerspace has a 12 month low of $46.74 and a 12 month high of $71.36. The company has a market cap of $1.06 billion, a price-to-earnings ratio of -88.66, a P/E/G ratio of 2.07 and a beta of 0.87. The business has a fifty day simple moving average of $60.40 and a 200-day simple moving average of $56.67.

Centerspace (NYSE:CSR) last posted its quarterly earnings data on Monday, April 29th. The company reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of $1.12 by ($1.49). Centerspace had a negative net margin of 2.38% and a negative return on equity of 0.73%. The firm had revenue of $64.51 million for the quarter, compared to analysts’ expectations of $65.30 million. During the same period in the prior year, the company posted $1.07 earnings per share. Sell-side analysts predict that Centerspace will post 4.75 EPS for the current year.

Centerspace Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 8th. Stockholders of record on Thursday, March 28th were issued a dividend of $0.75 per share. This is a boost from Centerspace’s previous quarterly dividend of $0.73. This represents a $3.00 annualized dividend and a dividend yield of 4.23%. The ex-dividend date was Wednesday, March 27th. Centerspace’s payout ratio is currently -375.00%.

Insider Transactions at Centerspace

In other news, Director John A. Schissel acquired 500 shares of Centerspace stock in a transaction that occurred on Monday, March 11th. The stock was purchased at an average price of $56.40 per share, with a total value of $28,200.00. Following the completion of the transaction, the director now owns 9,522 shares in the company, valued at $537,040.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.92% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Centerspace

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Centerspace by 5.9% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 9,064 shares of the company’s stock worth $546,000 after acquiring an additional 504 shares in the last quarter. New York State Teachers Retirement System boosted its position in Centerspace by 6.6% in the third quarter. New York State Teachers Retirement System now owns 18,510 shares of the company’s stock valued at $1,115,000 after buying an additional 1,146 shares in the last quarter. Panagora Asset Management Inc. bought a new stake in Centerspace during the 3rd quarter worth approximately $886,000. Teacher Retirement System of Texas grew its holdings in shares of Centerspace by 196.0% during the third quarter. Teacher Retirement System of Texas now owns 17,649 shares of the company’s stock worth $1,064,000 after purchasing an additional 11,686 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its position in Centerspace by 4.6% in the 3rd quarter. Nisa Investment Advisors LLC now owns 6,605 shares of the company’s stock valued at $398,000 after acquiring an additional 290 shares in the last quarter. Institutional investors own 79.00% of the company’s stock.

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.