Centerspace (NYSE:CSR) Stock Rating Upgraded by Raymond James

Centerspace (NYSE:CSR) was upgraded by research analysts at Raymond James from an “outperform” rating to a “strong-buy” rating in a report issued on Thursday, Marketbeat Ratings reports. The brokerage presently has a $69.00 target price on the stock, up from their previous target price of $66.00. Raymond James’ price objective indicates a potential upside of 9.08% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. Janney Montgomery Scott upgraded shares of Centerspace from a “neutral” rating to a “buy” rating and set a $72.00 price objective for the company in a report on Wednesday, January 15th. Piper Sandler decreased their price target on shares of Centerspace from $75.00 to $68.00 and set a “neutral” rating for the company in a research note on Monday, May 5th. BMO Capital Markets upgraded Centerspace from a “market perform” rating to an “outperform” rating and set a $77.00 price target for the company in a report on Friday, April 4th. Wells Fargo & Company assumed coverage on Centerspace in a report on Wednesday, March 19th. They set an “equal weight” rating and a $68.00 price objective on the stock. Finally, UBS Group started coverage on Centerspace in a research report on Monday, April 7th. They set a “neutral” rating and a $67.00 target price for the company. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $71.56.

Centerspace Stock Up 0.3%

Shares of NYSE CSR opened at $63.26 on Thursday. Centerspace has a 1 year low of $54.13 and a 1 year high of $76.16. The firm has a 50-day simple moving average of $60.93 and a two-hundred day simple moving average of $64.46. The company has a market cap of $1.06 billion, a P/E ratio of -49.81 and a beta of 0.77. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.04 and a quick ratio of 0.05.

Centerspace (NYSE:CSR) last issued its quarterly earnings results on Thursday, May 1st. The company reported $1.21 earnings per share for the quarter, hitting the consensus estimate of $1.21. Centerspace had a negative return on equity of 1.34% and a negative net margin of 4.34%. The firm had revenue of $67.09 million for the quarter, compared to the consensus estimate of $66.70 million. Research analysts anticipate that Centerspace will post 4.94 earnings per share for the current year.

Institutional Trading of Centerspace

Hedge funds have recently bought and sold shares of the stock. Smartleaf Asset Management LLC raised its position in shares of Centerspace by 370.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 381 shares of the company’s stock worth $25,000 after acquiring an additional 300 shares in the last quarter. Sterling Capital Management LLC boosted its position in Centerspace by 903.8% during the fourth quarter. Sterling Capital Management LLC now owns 522 shares of the company’s stock valued at $35,000 after purchasing an additional 470 shares in the last quarter. KBC Group NV grew its stake in Centerspace by 75.9% in the fourth quarter. KBC Group NV now owns 1,080 shares of the company’s stock valued at $71,000 after purchasing an additional 466 shares during the last quarter. New Age Alpha Advisors LLC bought a new position in Centerspace in the first quarter worth about $86,000. Finally, Summit Investment Advisors Inc. raised its holdings in Centerspace by 15.2% in the fourth quarter. Summit Investment Advisors Inc. now owns 1,732 shares of the company’s stock worth $115,000 after purchasing an additional 229 shares in the last quarter. Hedge funds and other institutional investors own 79.00% of the company’s stock.

Centerspace Company Profile

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.