Centerspace (NYSE:CSR) Downgraded to Hold at Zacks Investment Research

Centerspace (NYSE:CSRGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Thursday, Zacks.com reports.

According to Zacks, “Centerspace is a real estate development company. It is focused on the ownership, management, acquisitions, redevelopment and development of apartment communities. Centerspace, formerly known as IRET, is based in MINNEAPOLIS. “

Separately, Royal Bank of Canada started coverage on shares of Centerspace in a research note on Friday, March 11th. They issued a “sector perform” rating and a $105.00 price target for the company. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Centerspace has a consensus rating of “Hold” and an average target price of $110.13.

Shares of Centerspace stock remained flat at $$83.50 during trading on Thursday. 53,595 shares of the stock were exchanged, compared to its average volume of 75,833. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.61. The stock’s 50-day moving average is $93.09 and its two-hundred day moving average is $98.05. The firm has a market cap of $1.28 billion, a price-to-earnings ratio of -134.68, a price-to-earnings-growth ratio of 2.71 and a beta of 0.96. Centerspace has a one year low of $70.23 and a one year high of $112.27.

Centerspace (NYSE:CSRGet Rating) last released its quarterly earnings results on Monday, May 2nd. The company reported ($0.68) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.06 by ($1.74). Centerspace had a negative return on equity of 0.45% and a negative net margin of 1.74%. During the same quarter in the prior year, the company earned $0.95 earnings per share. On average, analysts predict that Centerspace will post 4.38 earnings per share for the current year.

In related news, Director Rodney Jones-Tyson bought 595 shares of the company’s stock in a transaction that occurred on Monday, May 16th. The shares were bought at an average price of $84.82 per share, for a total transaction of $50,467.90. Following the completion of the acquisition, the director now owns 595 shares of the company’s stock, valued at approximately $50,467.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.86% of the company’s stock.

Several institutional investors have recently modified their holdings of CSR. Ensign Peak Advisors Inc raised its position in shares of Centerspace by 41.0% during the 3rd quarter. Ensign Peak Advisors Inc now owns 5,500 shares of the company’s stock valued at $520,000 after purchasing an additional 1,600 shares during the period. Daiwa Securities Group Inc. raised its position in shares of Centerspace by 6.8% during the 1st quarter. Daiwa Securities Group Inc. now owns 4,471 shares of the company’s stock valued at $439,000 after purchasing an additional 283 shares during the period. Jackson Creek Investment Advisors LLC raised its position in shares of Centerspace by 8.8% during the 1st quarter. Jackson Creek Investment Advisors LLC now owns 11,631 shares of the company’s stock valued at $1,141,000 after purchasing an additional 945 shares during the period. Oregon Public Employees Retirement Fund increased its holdings in Centerspace by 5.5% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 5,730 shares of the company’s stock valued at $562,000 after acquiring an additional 300 shares during the last quarter. Finally, Peregrine Capital Management LLC increased its holdings in Centerspace by 6.9% in the 1st quarter. Peregrine Capital Management LLC now owns 120,652 shares of the company’s stock valued at $11,838,000 after acquiring an additional 7,745 shares during the last quarter. Institutional investors and hedge funds own 80.68% of the company’s stock.

Centerspace Company Profile (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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