Centerspace (NYSE:CSR) Price Target Raised to $64.00

Centerspace (NYSE:CSR) had its target price increased by Piper Sandler from $63.00 to $64.00 in a report issued on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Piper Sandler’s price objective points to a potential downside of 8.62% from the company’s current price.

Several other equities analysts also recently commented on the stock. Compass Point downgraded shares of Centerspace from a “buy” rating to a “neutral” rating and upped their price objective for the company from $65.00 to $68.00 in a research note on Friday, May 3rd. Royal Bank of Canada upped their price target on Centerspace from $66.00 to $68.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $66.33.

Centerspace Price Performance

CSR opened at $70.04 on Monday. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.04 and a quick ratio of 0.04. The stock’s 50 day simple moving average is $59.54 and its 200 day simple moving average is $56.36. The firm has a market cap of $1.04 billion, a price-to-earnings ratio of -87.55, a PEG ratio of 2.07 and a beta of 0.87. Centerspace has a 1 year low of $46.74 and a 1 year high of $70.68.

Centerspace (NYSE:CSR) last issued its earnings results on Monday, April 29th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.12 by ($1.49). Centerspace had a negative return on equity of 0.73% and a negative net margin of 2.38%. The firm had revenue of $64.51 million during the quarter, compared to the consensus estimate of $65.30 million. During the same quarter in the prior year, the business posted $1.07 EPS. As a group, analysts predict that Centerspace will post 4.75 earnings per share for the current year.

Insider Buying and Selling

In other news, Director John A. Schissel bought 500 shares of Centerspace stock in a transaction on Monday, March 11th. The shares were purchased 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 acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.92% of the stock is owned by insiders.

Hedge Funds Weigh In On Centerspace

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Westwood Holdings Group Inc. purchased a new stake in shares of Centerspace in the 4th quarter worth about $5,238,000. Cbre Investment Management Listed Real Assets LLC purchased a new stake in Centerspace in the fourth quarter worth about $1,708,000. Panagora Asset Management Inc. increased its stake in shares of Centerspace by 181.8% during the fourth quarter. Panagora Asset Management Inc. now owns 41,413 shares of the company’s stock valued at $2,410,000 after purchasing an additional 26,716 shares in the last quarter. Jackson Creek Investment Advisors LLC bought a new position in shares of Centerspace during the fourth quarter valued at approximately $1,025,000. Finally, Centersquare Investment Management LLC purchased a new position in shares of Centerspace during the fourth quarter valued at approximately $681,000. 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.