Centerspace (NYSE:CSR) Price Target Cut to $100.00 by Analysts at Piper Sandler

Centerspace (NYSE:CSRGet Rating) had its price objective trimmed by Piper Sandler from $110.00 to $100.00 in a report released on Tuesday morning, The Fly reports. The brokerage currently has an overweight rating on the stock.

Several other equities research analysts also recently commented on CSR. Royal Bank of Canada began coverage on shares of Centerspace in a report on Friday, March 11th. They set a sector perform rating and a $105.00 price objective on the stock. Compass Point set a $90.00 price target on shares of Centerspace in a report on Monday. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $105.25.

NYSE CSR opened at $81.83 on Tuesday. The company has a market cap of $1.26 billion, a PE ratio of -131.98, a price-to-earnings-growth ratio of 2.56 and a beta of 0.97. Centerspace has a 52 week low of $74.99 and a 52 week high of $112.27. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.61. The firm’s 50-day simple moving average is $85.99 and its two-hundred day simple moving average is $94.89.

Centerspace (NYSE:CSRGet Rating) last released its quarterly earnings data on Monday, May 2nd. The company reported ($0.68) EPS for the quarter, missing the consensus estimate of $1.06 by ($1.74). Centerspace had a negative net margin of 1.74% and a negative return on equity of 0.45%. During the same quarter in the previous year, the company earned $0.95 EPS. As a group, equities research analysts anticipate that Centerspace will post 4.34 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 11th. Investors of record on Thursday, June 30th will be given a $0.73 dividend. This represents a $2.92 annualized dividend and a dividend yield of 3.57%. The ex-dividend date of this dividend is Wednesday, June 29th. Centerspace’s dividend payout ratio (DPR) is -470.97%.

In related news, Director Mary J. Twinem acquired 900 shares of the firm’s stock in a transaction that occurred on Wednesday, June 1st. The shares were bought at an average cost of $82.48 per share, for a total transaction of $74,232.00. Following the completion of the transaction, the director now owns 6,577 shares in the company, valued at $542,470.96. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Rodney Jones-Tyson acquired 595 shares of the firm’s stock in a transaction that occurred on Monday, May 16th. The stock was bought at an average price of $84.82 per share, for a total transaction of $50,467.90. Following the completion of the transaction, the director now owns 595 shares of the company’s stock, valued at approximately $50,467.90. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 1,695 shares of company stock worth $140,842. 0.86% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Van ECK Associates Corp grew its position in Centerspace by 15.1% during the first quarter. Van ECK Associates Corp now owns 1,280 shares of the company’s stock valued at $126,000 after acquiring an additional 168 shares during the last quarter. Mutual of America Capital Management LLC grew its position in Centerspace by 10.7% during the first quarter. Mutual of America Capital Management LLC now owns 2,161 shares of the company’s stock valued at $212,000 after acquiring an additional 209 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. bought a new position in Centerspace during the first quarter valued at approximately $246,000. Commonwealth Equity Services LLC grew its position in Centerspace by 11.1% during the first quarter. Commonwealth Equity Services LLC now owns 2,793 shares of the company’s stock valued at $274,000 after acquiring an additional 279 shares during the last quarter. Finally, Teacher Retirement System of Texas grew its position in Centerspace by 10.1% during the first quarter. Teacher Retirement System of Texas now owns 2,982 shares of the company’s stock valued at $293,000 after acquiring an additional 274 shares during the last quarter. Institutional investors and hedge funds own 80.68% of the company’s stock.

About Centerspace (Get Rating)

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 June 30, 2021, Centerspace owned 62 apartment communities consisting of 11,579 apartment homes located in Colorado, Minnesota, Montana, Nebraska, North Dakota, and South Dakota.

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