Centerspace (NYSE:CSR) Receives $74.86 Average Target Price from Analysts

Centerspace (NYSE:CSR) has been assigned a consensus rating of “Hold” from the seven brokerages that are currently covering the company, MarketBeat.com reports. Four analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $74.86.

Several equities research analysts have recently weighed in on CSR shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $76.00 price objective on shares of Centerspace in a research note on Wednesday, October 30th. Wedbush assumed coverage on Centerspace in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $72.00 price target on the stock. Raymond James lowered Centerspace from an “outperform” rating to a “market perform” rating in a research note on Monday, October 21st. Finally, Janney Montgomery Scott raised Centerspace from a “neutral” rating to a “buy” rating and set a $72.00 price target on the stock in a research note on Wednesday, January 15th.

Hedge Funds Weigh In On Centerspace

Several institutional investors have recently bought and sold shares of the business. Smartleaf Asset Management LLC lifted its position in Centerspace by 370.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 381 shares of the company’s stock worth $25,000 after buying an additional 300 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Centerspace by 35.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 579 shares of the company’s stock worth $41,000 after buying an additional 150 shares in the last quarter. Loomis Sayles & Co. L P grew its stake in shares of Centerspace by 3,131.6% during the third quarter. Loomis Sayles & Co. L P now owns 614 shares of the company’s stock valued at $43,000 after purchasing an additional 595 shares during the last quarter. KBC Group NV grew its stake in shares of Centerspace by 75.9% during the fourth quarter. KBC Group NV now owns 1,080 shares of the company’s stock valued at $71,000 after purchasing an additional 466 shares during the last quarter. Finally, Van ECK Associates Corp grew its stake in shares of Centerspace by 15.2% during the third quarter. Van ECK Associates Corp now owns 2,626 shares of the company’s stock valued at $186,000 after purchasing an additional 347 shares during the last quarter. Institutional investors own 79.00% of the company’s stock.

Centerspace Stock Performance

NYSE CSR opened at $61.60 on Wednesday. Centerspace has a twelve month low of $52.26 and a twelve month high of $76.16. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.70. The stock has a market cap of $1.02 billion, a P/E ratio of -38.26 and a beta of 0.90. The company’s 50-day simple moving average is $64.22 and its 200 day simple moving average is $69.39.

Centerspace Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Monday, December 30th were given a $0.75 dividend. The ex-dividend date was Monday, December 30th. This represents a $3.00 annualized dividend and a yield of 4.87%. Centerspace’s payout ratio is -186.34%.

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.