UBS Group Lowers Centerspace (NYSE:CSR) Price Target to $60.00

Centerspace (NYSE:CSR) had its target price reduced by stock analysts at UBS Group from $67.00 to $60.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. UBS Group’s price target suggests a potential upside of 0.63% from the stock’s current price.

CSR has been the topic of a number of other reports. Raymond James Financial raised shares of Centerspace from an “outperform” rating to a “strong-buy” rating and increased their price objective for the company from $66.00 to $69.00 in a research report on Thursday, May 15th. Piper Sandler dropped their price objective on shares of Centerspace from $75.00 to $68.00 and set a “neutral” rating on the stock in a research report on Monday, May 5th. Royal Bank Of Canada increased their price objective on shares of Centerspace from $71.00 to $72.00 and gave the company an “outperform” rating in a research report on Monday, May 5th. BMO Capital Markets raised shares of Centerspace from a “market perform” rating to an “outperform” rating and set a $77.00 price objective on the stock in a research report on Friday, April 4th. Finally, Wells Fargo & Company began coverage on Centerspace in a research report on Wednesday, March 19th. They set an “equal weight” rating and a $68.00 target price on the stock. Four investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.78.

Centerspace Price Performance

Centerspace stock opened at $59.63 on Tuesday. The firm has a market cap of $998.14 million, a PE ratio of -53.24 and a beta of 0.72. Centerspace has a 52-week low of $54.13 and a 52-week high of $76.16. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.76. The company’s 50 day moving average is $62.00 and its two-hundred day moving average is $61.99.

Centerspace (NYSE:CSR) last posted its quarterly earnings results on Thursday, May 1st. The company reported $1.21 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.21. The company had revenue of $67.09 million for the quarter, compared to analyst estimates of $66.70 million. Centerspace had a negative return on equity of 1.30% and a negative net margin of 4.23%. On average, research analysts expect that Centerspace will post 4.94 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Centerspace by 0.3% during the first quarter. Vanguard Group Inc. now owns 2,603,360 shares of the company’s stock worth $168,568,000 after buying an additional 8,994 shares during the period. Silvercrest Asset Management Group LLC increased its position in Centerspace by 6.9% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 834,251 shares of the company’s stock worth $55,186,000 after buying an additional 54,204 shares during the period. Geode Capital Management LLC increased its position in Centerspace by 7.3% during the fourth quarter. Geode Capital Management LLC now owns 415,680 shares of the company’s stock worth $27,503,000 after buying an additional 28,163 shares during the period. Northern Trust Corp grew its stake in shares of Centerspace by 28.5% in the 4th quarter. Northern Trust Corp now owns 230,816 shares of the company’s stock valued at $15,268,000 after purchasing an additional 51,259 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Centerspace by 17.7% in the 4th quarter. JPMorgan Chase & Co. now owns 227,399 shares of the company’s stock valued at $15,042,000 after purchasing an additional 34,157 shares during the last quarter. Institutional investors and hedge funds 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.