Piper Sandler Raises Centerspace (NYSE:CSR) Price Target to $75.00

Centerspace (NYSE:CSR) had its price target lifted by Piper Sandler from $64.00 to $75.00 in a research report report published on Wednesday, Benzinga reports. The firm currently has a neutral rating on the stock.

Several other equities analysts have also weighed in on the stock. Raymond James upgraded shares of Centerspace from a market perform rating to an outperform rating and set a $75.00 price objective on the stock in a report on Friday, May 24th. Compass Point lowered shares of Centerspace from a buy rating to a neutral rating and increased their target price for the stock from $65.00 to $68.00 in a report on Friday, May 3rd. Finally, Royal Bank of Canada increased their target price on shares of Centerspace from $66.00 to $68.00 and gave the stock an outperform rating in a report on Wednesday, May 1st. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $69.86.

Centerspace Stock Down 0.2 %

Shares of NYSE CSR opened at $70.39 on Wednesday. The company’s 50 day simple moving average is $68.54 and its 200 day simple moving average is $62.73. Centerspace has a fifty-two week low of $46.74 and a fifty-two week high of $71.50. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.04 and a current ratio of 0.04.

Centerspace (NYSE:CSR) last announced its quarterly earnings data on Monday, July 29th. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of $1.20 by ($1.39). Centerspace had a negative net margin of 2.16% and a negative return on equity of 0.67%. The business had revenue of $65.04 million during the quarter, compared to analyst estimates of $65.90 million. During the same quarter in the prior year, the company earned $1.28 earnings per share. On average, research analysts anticipate that Centerspace will post 4.82 earnings per share for the current fiscal year.

Centerspace Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 10th. Stockholders of record on Friday, June 28th were given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 4.26%. The ex-dividend date was Friday, June 28th. Centerspace’s dividend payout ratio is -375.00%.

Institutional Investors Weigh In On Centerspace

Several large investors have recently made changes to their positions in the stock. Texas Permanent School Fund Corp increased its position in shares of Centerspace by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 13,174 shares of the company’s stock worth $753,000 after acquiring an additional 176 shares in the last quarter. Daiwa Securities Group Inc. increased its position in shares of Centerspace by 4.9% during the first quarter. Daiwa Securities Group Inc. now owns 4,764 shares of the company’s stock worth $272,000 after acquiring an additional 222 shares in the last quarter. Asset Management One Co. Ltd. increased its position in shares of Centerspace by 1.3% during the fourth quarter. Asset Management One Co. Ltd. now owns 23,023 shares of the company’s stock worth $1,366,000 after acquiring an additional 301 shares in the last quarter. SG Americas Securities LLC increased its position in shares of Centerspace by 2.6% during the fourth quarter. SG Americas Securities LLC now owns 12,662 shares of the company’s stock worth $737,000 after acquiring an additional 318 shares in the last quarter. Finally, New York State Common Retirement Fund increased its position in shares of Centerspace by 1.6% during the fourth quarter. New York State Common Retirement Fund now owns 20,679 shares of the company’s stock worth $1,204,000 after acquiring an additional 329 shares in the last quarter. Institutional investors own 79.00% of the company’s stock.

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.