Centerspace (NYSE:CSR) Sets New 52-Week High at $67.06

Centerspace (NYSE:CSR)’s stock price reached a new 52-week high on Tuesday . The company traded as high as $67.06 and last traded at $67.06, with a volume of 46565 shares traded. The stock had previously closed at $64.72.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on CSR shares. Royal Bank of Canada reissued an “outperform” rating and set a $63.00 price objective on shares of Centerspace in a research note on Friday, March 22nd. Piper Sandler reissued a “neutral” rating and set a $63.00 price target on shares of Centerspace in a research report on Tuesday, March 26th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $65.57.

Centerspace Stock Up 4.0 %

The firm has a 50-day simple moving average of $58.32 and a 200 day simple moving average of $55.91. The company has a market capitalization of $1.00 billion, a PE ratio of 27.78, a price-to-earnings-growth ratio of 1.95 and a beta of 0.93. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.03 and a quick ratio of 0.03.

Centerspace (NYSE:CSR) last announced its earnings results on Monday, April 29th. The company reported ($0.37) EPS for the quarter, missing the consensus estimate of $1.12 by ($1.49). The company had revenue of $64.51 million for the quarter, compared to analysts’ expectations of $65.30 million. Centerspace had a net margin of 15.81% and a return on equity of 4.76%. During the same quarter in the previous year, the business posted $1.07 earnings per share. On average, research analysts predict that Centerspace will post 4.74 EPS for the current fiscal year.

Centerspace Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 8th. Investors of record on Thursday, March 28th were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 4.46%. This is a positive change from Centerspace’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend was Wednesday, March 27th. Centerspace’s dividend payout ratio (DPR) is presently 128.76%.

Insider Transactions at Centerspace

In other Centerspace news, Director John A. Schissel bought 500 shares of Centerspace stock in a transaction dated Monday, March 11th. The stock was bought at an average cost of $56.40 per share, for a total transaction of $28,200.00. Following the purchase, the director now owns 9,522 shares in the company, valued at approximately $537,040.80. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.92% of the company’s stock.

Hedge Funds Weigh In On Centerspace

Hedge funds have recently added to or reduced their stakes in the business. ICA Group Wealth Management LLC acquired a new stake in Centerspace in the fourth quarter worth $55,000. Van ECK Associates Corp increased its holdings in shares of Centerspace by 19.7% in the 4th quarter. Van ECK Associates Corp now owns 2,118 shares of the company’s stock worth $123,000 after acquiring an additional 348 shares during the period. Meeder Asset Management Inc. bought a new stake in Centerspace in the 4th quarter valued at about $149,000. Allspring Global Investments Holdings LLC bought a new stake in Centerspace in the 1st quarter valued at about $173,000. Finally, DekaBank Deutsche Girozentrale boosted its stake in Centerspace by 18.8% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 3,709 shares of the company’s stock valued at $224,000 after purchasing an additional 587 shares during the period. Institutional investors and hedge funds 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.