Centerspace (NYSE:CSR) Reaches New 52-Week Low – Should You Sell?

Shares of Centerspace (NYSE:CSR) hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $52.13 and last traded at $52.36, with a volume of 91839 shares changing hands. The stock had previously closed at $52.49.

Analysts Set New Price Targets

A number of equities research analysts recently commented on CSR shares. Piper Sandler dropped their price objective on Centerspace from $60.00 to $58.00 and set a “neutral” rating for the company in a report on Thursday, August 27th. Zacks Research cut Centerspace from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 18th. UBS Group boosted their target price on Centerspace from $66.00 to $70.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Wall Street Zen raised Centerspace from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, BTIG Research downgraded shares of Centerspace from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 16th. 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. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $62.80.

Centerspace Stock Down 0.2%

The company has a market cap of $879.12 million, a price-to-earnings ratio of 41.56 and a beta of 0.86. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.87. The firm’s fifty day moving average price is $55.39 and its 200-day moving average price is $60.01.

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

Insider Transactions at Centerspace

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

Institutional Investors Weigh In On Centerspace

Several large investors have recently made changes to their positions in CSR. Sound Income Strategies LLC raised its holdings in shares of Centerspace by 67.4% during the first quarter. Sound Income Strategies LLC now owns 626 shares of the company’s stock worth $36,000 after acquiring an additional 252 shares during the period. Covestor Ltd boosted its stake in Centerspace by 57,100.0% in the 4th quarter. Covestor Ltd now owns 572 shares of the company’s stock worth $38,000 after purchasing an additional 571 shares during the period. Avalon Trust Co increased its holdings in Centerspace by 36.3% during the 1st quarter. Avalon Trust Co now owns 709 shares of the company’s stock worth $41,000 after purchasing an additional 189 shares in the last quarter. Danske Bank A S bought a new position in Centerspace during the 4th quarter worth about $47,000. Finally, Kestra Advisory Services LLC bought a new position in Centerspace during the 4th quarter worth about $58,000. Institutional investors own 79.00% of the company’s stock.

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.