Centerspace (NYSE:CSR) Sets New 52-Week Low After Analyst Downgrade

Centerspace (NYSE:CSR)’s stock price reached a new 52-week low during trading on Tuesday after Zacks Research downgraded the stock from a hold rating to a strong sell rating. The company traded as low as $53.65 and last traded at $53.5670, with a volume of 76915 shares traded. The stock had previously closed at $54.64.

Several other research analysts have also issued reports on the stock. Weiss Ratings raised shares of Centerspace from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 4th. UBS Group lifted their price objective on Centerspace from $66.00 to $70.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. BTIG Research lowered Centerspace from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 16th. Royal Bank Of Canada dropped their target price on Centerspace from $67.00 to $64.00 and set an “outperform” rating for the company in a report on Wednesday, August 5th. Finally, Piper Sandler cut their target price on Centerspace from $64.00 to $60.00 and set a “neutral” rating for the company in a research report on Tuesday, July 21st. One equities research analyst has rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $63.80.

Insider Activity

In other news, Director John A. Schissel acquired 500 shares of the company’s stock in a transaction dated Thursday, June 18th. The stock was bought at an average price of $54.90 per share, with a total value of $27,450.00. Following the completion of the acquisition, the director owned 17,195 shares in the company, valued at approximately $944,005.50. This represents a 2.99% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Rodney Jones-Tyson bought 1,700 shares of the business’s stock in a transaction dated Monday, June 22nd. The stock was purchased at an average price of $55.26 per share, with a total value of $93,942.00. Following the purchase, the director directly owned 7,877 shares of the company’s stock, valued at $435,283.02. The trade was a 27.52% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 0.49% of the company’s stock.

Institutional Trading of Centerspace

Several large investors have recently made changes to their positions in CSR. Avalon Trust Co raised its holdings in shares of Centerspace by 36.3% in the first quarter. Avalon Trust Co now owns 709 shares of the company’s stock valued at $41,000 after buying an additional 189 shares during the last quarter. Captrust Financial Advisors grew its stake in shares of Centerspace by 4.9% during the fourth 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 last quarter. Engineers Gate Manager LP increased its holdings in shares of Centerspace by 6.4% in the fourth 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 in the last quarter. State of Tennessee Department of Treasury raised its position in Centerspace by 3.7% in the 2nd quarter. State of Tennessee Department of Treasury now owns 6,877 shares of the company’s stock worth $414,000 after purchasing an additional 247 shares during the last quarter. Finally, Sound Income Strategies LLC boosted its position in Centerspace by 67.4% in the 1st quarter. Sound Income Strategies LLC now owns 626 shares of the company’s stock valued at $36,000 after buying an additional 252 shares during the last quarter. Institutional investors own 79.00% of the company’s stock.

Centerspace Price Performance

The stock has a 50-day simple moving average of $55.92 and a 200 day simple moving average of $60.71. The stock has a market capitalization of $910.19 million, a P/E ratio of 43.02 and a beta of 0.88. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.03 and a current ratio of 0.03.

Centerspace (NYSE:CSR) last released its earnings results on Monday, August 3rd. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.06. The company had revenue of $65.78 million during the quarter, compared to the consensus estimate of $66.29 million. Centerspace had a return on equity of 2.58% and a net margin of 7.97%.Centerspace has set its FY 2026 guidance at 4.580-4.680 EPS. On average, equities analysts forecast that Centerspace will post 4.67 earnings per share for the current fiscal year.

Centerspace Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 14th. Stockholders of record on Monday, June 29th were paid a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 5.7%. The ex-dividend date of this dividend was Monday, June 29th. Centerspace’s dividend payout ratio (DPR) is 244.44%.

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.