Centerspace (NYSE:CSR) Shares Cross Above 200 Day Moving Average – Time to Sell?

Centerspace (NYSE:CSR) crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $59.49 and traded as high as $59.81. Centerspace shares last traded at $59.5860, with a volume of 253,804 shares traded.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Cantor Fitzgerald reissued a “neutral” rating and set a $57.00 price objective on shares of Centerspace in a report on Thursday, September 10th. Weiss Ratings lowered Centerspace from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, August 19th. Wells Fargo & Company dropped their price target on Centerspace from $57.00 to $53.00 and set an “equal weight” rating on the stock in a research report on Monday, October 19th. UBS Group dropped their price target on Centerspace from $68.00 to $65.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 14th. Finally, Compass Point upgraded Centerspace from a “neutral” rating to a “buy” rating and increased their price target for the stock from $64.50 to $80.00 in a research note on Wednesday, September 9th. Two equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $62.50.

Centerspace Stock Up 4.1%

The stock’s fifty day moving average is $55.69 and its 200 day moving average is $59.49. The company has a current ratio of 0.34, a quick ratio of 0.03 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $1.00 billion, a P/E ratio of 11.14 and a beta of 0.82.

Centerspace (NYSE:CSR) last issued its quarterly earnings data on Monday, November 2nd. The company reported $7.28 EPS for the quarter, topping the consensus estimate of $0.15 by $7.13. Centerspace had a net margin of 35.40% and a return on equity of 10.82%. The business had revenue of $59.52 million during the quarter, compared to analyst estimates of $62.74 million. Research analysts predict that Centerspace will post 4.67 EPS for the current fiscal year.

Centerspace Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 14th. Shareholders of record on Tuesday, September 29th were issued a $0.77 dividend. The ex-dividend date of this dividend was Tuesday, September 29th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 5.2%. Centerspace’s dividend payout ratio (DPR) is presently 244.44%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in shares of Centerspace during the 2nd quarter valued at $167,912,000. Pacific Heights Asset Management LLC purchased a new position in shares of Centerspace in the second quarter valued at about $16,857,000. Dimensional Fund Advisors LP lifted its position in shares of Centerspace by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 238,535 shares of the company’s stock valued at $13,704,000 after acquiring an additional 2,139 shares in the last quarter. Bank of New York Mellon Corp bought a new position in shares of Centerspace in the second quarter worth about $7,190,000. Finally, Diamond Hill Capital Management LLC Investment Advisor bought a new stake in Centerspace during the 2nd quarter valued at approximately $7,009,000. 79.00% of the stock is owned by hedge funds and other institutional investors.

Centerspace Company Profile

Centerspace (NYSE:CSR) is a real estate investment trust focused on the ownership, acquisition, development and operation of multifamily apartment communities. The company provides residential housing through a portfolio of apartment properties and generates revenue primarily from rents and related resident services.

Centerspace serves markets in the Mountain West and Midwest, with communities located in states including Colorado, Minnesota, Montana, Nebraska, North Dakota and South Dakota.