Centerspace (NYSE:CSR) Shares Gap Down – Should You Sell?

Shares of Centerspace (NYSE:CSR) gapped down prior to trading on Tuesday . The stock had previously closed at $58.39, but opened at $55.30. Centerspace shares last traded at $56.3940, with a volume of 22,296 shares trading hands.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CSR. UBS Group raised their price target on Centerspace from $66.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. Wall Street Zen upgraded Centerspace from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 17th. Royal Bank Of Canada reduced their target price on Centerspace from $71.00 to $67.00 and set an “outperform” rating for the company in a research note on Friday, June 5th. Weiss Ratings upgraded Centerspace from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, May 6th. Finally, BTIG Research downgraded Centerspace from a “buy” rating to a “neutral” rating in a research note on Tuesday. Two investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $68.80.

Centerspace Price Performance

The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.88. The company has a 50 day moving average price of $64.18 and a 200 day moving average price of $63.72. The company has a market capitalization of $922.67 million, a P/E ratio of 122.05 and a beta of 0.88.

Centerspace (NYSE:CSR) last issued its earnings results on Monday, May 4th. The company reported ($0.77) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.48). The business had revenue of $65.07 million for the quarter, compared to the consensus estimate of $66.54 million. Centerspace had a return on equity of 0.94% and a net margin of 2.93%.Centerspace has set its FY 2026 guidance at 4.810-5.050 EPS. On average, equities analysts predict that Centerspace will post 4.85 EPS for the current fiscal year.

Centerspace Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 14th. Investors of record on Monday, June 29th will be paid a $0.77 dividend. The ex-dividend date is Monday, June 29th. This represents a $3.08 annualized dividend and a yield of 5.6%. Centerspace’s payout ratio is 684.44%.

Institutional Trading of Centerspace

Several institutional investors have recently added to or reduced their stakes in the company. Doliver Advisors LP boosted its stake in Centerspace by 3.0% in the 4th quarter. Doliver Advisors LP now owns 5,930 shares of the company’s stock valued at $396,000 after purchasing an additional 170 shares during the period. Avalon Trust Co boosted its stake in Centerspace by 36.3% in the 1st quarter. Avalon Trust Co now owns 709 shares of the company’s stock valued at $41,000 after purchasing an additional 189 shares during the period. Captrust Financial Advisors boosted its stake in Centerspace by 4.9% in the 4th quarter. Captrust Financial Advisors now owns 4,348 shares of the company’s stock valued at $290,000 after purchasing an additional 202 shares during the period. State of Alaska Department of Revenue boosted its stake in Centerspace by 1.2% in the 4th quarter. State of Alaska Department of Revenue now owns 17,657 shares of the company’s stock valued at $1,176,000 after purchasing an additional 212 shares during the period. Finally, Engineers Gate Manager LP boosted its stake in Centerspace by 6.4% in the 4th quarter. Engineers Gate Manager LP now owns 4,091 shares of the company’s stock valued at $273,000 after purchasing an additional 246 shares during the period. 79.00% of the stock is currently owned by institutional investors.

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. Centerspace was named a Top Workplace for the fourth consecutive year in 2023 by the Minneapolis Star Tribune.