Centerspace (NYSE:CSR) Reaches New 12-Month Low – What’s Next?

Centerspace (NYSE:CSR) shares reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $53.33 and last traded at $53.0750, with a volume of 1745 shares changing hands. The stock had previously closed at $53.42.

Analyst Ratings Changes

A number of brokerages have recently commented on CSR. Weiss Ratings lowered Centerspace from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, August 19th. Piper Sandler set a $58.00 price objective on shares of Centerspace in a research note on Thursday. Zacks Research lowered shares of Centerspace from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 18th. BTIG Research lowered shares of Centerspace from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 16th. Finally, Wells Fargo & Company cut their target price on shares of Centerspace from $70.00 to $60.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 22nd. One investment analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Centerspace has an average rating of “Hold” and a consensus target price of $63.40.

Centerspace Stock Down 0.3%

The firm has a 50 day moving average of $55.65 and a 200-day moving average of $60.35. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.03 and a quick ratio of 0.03. The stock has a market capitalization of $894.70 million, a P/E ratio of 42.21 and a beta of 0.88.

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

Centerspace Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 14th. Investors of record on Monday, June 29th were given a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 5.8%. The ex-dividend date of this dividend was Monday, June 29th. Centerspace’s dividend payout ratio (DPR) is 244.44%.

Insiders Place Their Bets

In other Centerspace news, Director Rodney Jones-Tyson bought 1,700 shares of the firm’s stock in a transaction dated Monday, June 22nd. The shares were acquired at an average cost of $55.26 per share, for a total transaction of $93,942.00. Following the transaction, the director owned 7,877 shares in the company, valued at approximately $435,283.02. The trade was a 27.52% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director John A. Schissel acquired 500 shares of the firm’s stock in a transaction on Thursday, June 18th. The shares were bought at an average cost of $54.90 per share, for a total transaction of $27,450.00. Following the completion of the acquisition, the director directly owned 17,195 shares of the company’s stock, valued at approximately $944,005.50. This represents a 2.99% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.49% of the stock is owned by insiders.

Institutional Trading of Centerspace

Large investors have recently bought and sold shares of the stock. Royal Bank of Canada lifted its holdings in shares of Centerspace by 199.5% during the first quarter. Royal Bank of Canada now owns 15,720 shares of the company’s stock valued at $1,019,000 after acquiring an additional 10,472 shares during the period. AQR Capital Management LLC grew its holdings in shares of Centerspace by 32.5% in the 1st quarter. AQR Capital Management LLC now owns 4,891 shares of the company’s stock worth $317,000 after purchasing an additional 1,200 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Centerspace by 2.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,790 shares of the company’s stock worth $958,000 after purchasing an additional 287 shares in the last quarter. Millennium Management LLC lifted its holdings in Centerspace by 307.3% during the 1st quarter. Millennium Management LLC now owns 184,051 shares of the company’s stock valued at $11,917,000 after purchasing an additional 138,861 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in Centerspace by 17.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 138,676 shares of the company’s stock valued at $8,979,000 after purchasing an additional 20,992 shares during the last quarter. 79.00% of the stock is currently owned by institutional investors.

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