Centerspace (NYSE:CSR) Sees Strong Trading Volume After Analyst Update

Shares of Centerspace (NYSE:CSR – Get Free Report ) saw strong trading volume on Monday after BTIG Research upped their target price for the stock from $69.00 to $79.00. BTIG Research currently has a buy rating on the stock. 215,207 shares traded hands during mid-day trading, an increase of 132% from the previous session’s volume of 92,577 shares. Shares last traded at $71.54 and previously closed at $71.10.

Several other research analysts have also commented on the company. Royal Bank of Canada boosted their price target on Centerspace from $72.00 to $73.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Piper Sandler lifted their price target on Centerspace from $64.00 to $75.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Raymond James raised Centerspace from a “market perform” rating to an “outperform” rating and set a $75.00 target price on the stock in a research report on Friday, May 24th. Finally, Compass Point cut Centerspace from a “buy” rating to a “neutral” rating and boosted their price target for the company from $65.00 to $68.00 in a report on Friday. May 3rd. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $71.29.

Read the latest research report on Centerspace

Institutional Trading of Centerspace

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Rothschild Investment LLC purchased a new position in shares of Centerspace during the second quarter valued at $42,000. ICA Group Wealth Management LLC bought a new stake in Centerspace during the fourth quarter valued at approximately $55,000. Van ECK Associates Corp boosted its position in Centerspace by 19.7% during the fourth quarter. Van ECK Associates Corp now owns 2,118 shares of the company’s stock valued at $123,000 after buying an additional 348 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in Centerspace in the first quarter valued at approximately $173,000. Finally, Victory Capital Management Inc. bought a new stake in Centerspace during the second quarter valued at approximately $209,000. Hedge funds and other institutional investors own 79.00% of the company’s shares.

Centerspace stock performance

The company has a 50 day moving average of $68.98 and a two hundred day moving average of $63.55. The company has a market cap of $1.09 billion, a P/E ratio of -91.15, a P/E/G ratio of 2.09 and a beta of 0.88. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.04, and a quick ratio of 0.04.

Centerspace (NYSE:CSR – Get Your Free Report ) last issued its quarterly earnings data on Monday, July 29th. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $65.04 million for the quarter, compared to the consensus estimate of $65.90 million. During the same period in the prior year, the business earned $1.28 EPS. On average, sell-side analysts anticipate that Centerspace will post 4.82 EPS for the current fiscal year.

Centerspace announces dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 10th. Shareholders of record on Friday, June 28th were given a $0.75 dividend. This represents an annualized dividend of $3.00 and a yield of 4.11%. The ex-dividend date of this dividend was Friday, June 28th. Centerspace’s dividend payout ratio is currently -375.00%.

Centerspace Company Profile

(Get a free report)

Centerspace is an owner and operator of apartment communities committed to providing great homes with a focus on integrity and service to 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.

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