Analysts Set Centerspace (NYSE:CSR) Price Target at $65.57

Shares of Centerspace (NYSE:CSR) have been given an average recommendation of “Moderate Buy” by the seven brokerages that are presently covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year target price among analysts that have covered the stock in the last year is $65.57.

Several equities research analysts have recently weighed in on the company. Piper Sandler reiterated a “neutral” rating and set a $63.00 price target on shares of Centerspace in a research report on Tuesday, March 26th. Royal Bank of Canada reiterated an “outperform” rating and set a $63.00 price target on shares of Centerspace in a research report on Friday, March 22nd.

Centerspace Trading Up 1.0 %

Shares of Centerspace stock opened at $62.57 on Tuesday. The stock’s 50-day simple moving average is $56.92 and its 200 day simple moving average is $55.61. Centerspace has a 52-week low of $46.74 and a 52-week high of $66.99. The stock has a market capitalization of $931.67 million, a P/E ratio of 26.85, a P/E/G ratio of 1.87 and a beta of 0.93. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.03 and a current ratio of 0.03.

Centerspace Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 8th. Shareholders of record on Thursday, March 28th were paid a $0.75 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $3.00 annualized dividend and a yield of 4.79%. This is a positive change from Centerspace’s previous quarterly dividend of $0.73. Centerspace’s dividend payout ratio is currently 128.76%.

Insiders Place Their Bets

In related news, Director John A. Schissel acquired 500 shares of the company’s stock in a transaction dated 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 purchase, the director now owns 9,522 shares in the company, valued at approximately $537,040.80. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 0.86% of the stock is owned by insiders.

Institutional Trading of Centerspace

Institutional investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC purchased a new stake in Centerspace in the first quarter worth $173,000. BTC Capital Management Inc. bought a new position in shares of Centerspace during the first quarter valued at $279,000. Pensionfund Sabic boosted its position in shares of Centerspace by 26.8% during the first quarter. Pensionfund Sabic now owns 8,519 shares of the company’s stock valued at $487,000 after buying an additional 1,800 shares during the last quarter. Pensionfund DSM Netherlands boosted its position in shares of Centerspace by 19.6% during the first quarter. Pensionfund DSM Netherlands now owns 18,280 shares of the company’s stock valued at $1,045,000 after buying an additional 3,000 shares during the last quarter. Finally, Quadrature Capital Ltd purchased a new stake in shares of Centerspace during the fourth quarter valued at $607,000. Hedge funds and other 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.