Piper Sandler Trims Centerspace (NYSE:CSR) Target Price to $100.00

Centerspace (NYSE:CSRGet Rating) had its price target decreased by Piper Sandler from $110.00 to $100.00 in a report issued on Tuesday, The Fly reports. Piper Sandler currently has an overweight rating on the stock.

A number of other equities research analysts have also weighed in on the stock. Compass Point set a $90.00 target price on shares of Centerspace in a report on Monday. Royal Bank of Canada started coverage on shares of Centerspace in a report on Friday, March 11th. They set a sector perform rating and a $105.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Centerspace presently has an average rating of Moderate Buy and an average target price of $105.25.

CSR opened at $81.83 on Tuesday. The company’s 50 day moving average is $85.99 and its 200-day moving average is $94.89. Centerspace has a 1-year low of $74.99 and a 1-year high of $112.27. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.61. The company has a market cap of $1.26 billion, a P/E ratio of -131.98, a PEG ratio of 2.56 and a beta of 0.97.

Centerspace (NYSE:CSRGet Rating) last posted its earnings results on Monday, May 2nd. The company reported ($0.68) EPS for the quarter, missing the consensus estimate of $1.06 by ($1.74). Centerspace had a negative return on equity of 0.45% and a negative net margin of 1.74%. During the same quarter last year, the company earned $0.95 EPS. On average, equities analysts forecast that Centerspace will post 4.34 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, July 11th. Stockholders of record on Thursday, June 30th will be given a $0.73 dividend. The ex-dividend date is Wednesday, June 29th. This represents a $2.92 dividend on an annualized basis and a dividend yield of 3.57%. Centerspace’s dividend payout ratio (DPR) is currently -470.97%.

In related news, Director Rodney Jones-Tyson bought 595 shares of the company’s stock in a transaction that occurred on Monday, May 16th. The shares were bought at an average price of $84.82 per share, for a total transaction of $50,467.90. Following the transaction, the director now directly owns 595 shares of the company’s stock, valued at $50,467.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mary J. Twinem bought 900 shares of the company’s stock in a transaction that occurred on Wednesday, June 1st. The shares were bought at an average price of $82.48 per share, for a total transaction of $74,232.00. Following the transaction, the director now directly owns 6,577 shares in the company, valued at $542,470.96. The disclosure for this purchase can be found here. Insiders bought a total of 1,695 shares of company stock worth $140,842 in the last 90 days. Corporate insiders own 0.86% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in CSR. Wellington Management Group LLP lifted its position in shares of Centerspace by 27.8% during the 1st quarter. Wellington Management Group LLP now owns 1,180,660 shares of the company’s stock valued at $115,846,000 after acquiring an additional 257,030 shares during the period. State Street Corp increased its stake in Centerspace by 15.6% during the 1st quarter. State Street Corp now owns 887,776 shares of the company’s stock valued at $87,742,000 after purchasing an additional 119,848 shares in the last quarter. BlackRock Inc. increased its stake in Centerspace by 2.2% during the 1st quarter. BlackRock Inc. now owns 2,736,058 shares of the company’s stock valued at $268,463,000 after purchasing an additional 58,404 shares in the last quarter. Vanguard Group Inc. increased its stake in Centerspace by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 2,306,306 shares of the company’s stock valued at $226,294,000 after purchasing an additional 37,063 shares in the last quarter. Finally, Yousif Capital Management LLC bought a new stake in Centerspace during the 4th quarter valued at $1,438,000. Institutional investors own 80.68% of the company’s stock.

About Centerspace (Get Rating)

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 June 30, 2021, Centerspace owned 62 apartment communities consisting of 11,579 apartment homes located in Colorado, Minnesota, Montana, Nebraska, North Dakota, and South Dakota.

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