Centerspace (NYSE:CSR) Earns Neutral Rating from Piper Sandler

Piper Sandler reiterated their neutral rating on shares of Centerspace (NYSE:CSR) in a report released on Tuesday morning, Benzinga reports. The brokerage currently has a $63.00 price target on the stock.

Separately, Royal Bank of Canada reaffirmed an outperform rating and set a $63.00 price objective on shares of Centerspace in a research note on Friday, March 22nd. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $65.57.

Centerspace Trading Up 1.5 %

NYSE CSR opened at $57.14 on Tuesday. Centerspace has a 12 month low of $46.74 and a 12 month high of $66.99. The company has a 50-day moving average of $55.79 and a 200-day moving average of $55.81. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.03 and a quick ratio of 0.03. The company has a market cap of $859.96 million, a P/E ratio of 24.52, a P/E/G ratio of 1.68 and a beta of 0.93.

Centerspace Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 8th. Stockholders of record on Thursday, March 28th will be issued a dividend of $0.75 per share. The ex-dividend date is Wednesday, March 27th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 5.25%. This is a boost from Centerspace’s previous quarterly dividend of $0.73. Centerspace’s payout ratio is presently 125.32%.

Insider Transactions at Centerspace

In other news, Director John A. Schissel bought 500 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was acquired at an average price of $56.40 per share, for a total transaction of $28,200.00. Following the acquisition, the director now owns 9,522 shares of the company’s stock, valued at $537,040.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.86% of the company’s stock.

Institutional Trading of Centerspace

A number of institutional investors have recently modified their holdings of CSR. Bank of New York Mellon Corp boosted its holdings in Centerspace by 1.3% in the 1st quarter. Bank of New York Mellon Corp now owns 167,277 shares of the company’s stock worth $16,413,000 after acquiring an additional 2,193 shares during the period. MetLife Investment Management LLC boosted its holdings in Centerspace by 35.5% in the 1st quarter. MetLife Investment Management LLC now owns 7,203 shares of the company’s stock worth $707,000 after acquiring an additional 1,887 shares during the period. Rhumbline Advisers boosted its holdings in Centerspace by 2.4% in the 1st quarter. Rhumbline Advisers now owns 42,807 shares of the company’s stock worth $4,200,000 after acquiring an additional 1,005 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Centerspace by 19.8% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,933 shares of the company’s stock worth $1,269,000 after acquiring an additional 2,139 shares during the period. Finally, BlackRock Inc. boosted its holdings in Centerspace by 2.2% in the 1st quarter. BlackRock Inc. now owns 2,736,058 shares of the company’s stock worth $268,463,000 after acquiring an additional 58,404 shares during the period. Hedge funds and other 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.