Centerspace (NYSE:CSR) Cut to Strong Sell at Wall Street Zen

Centerspace (NYSE:CSR) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “strong sell” rating in a report issued on Saturday.

Other analysts have also recently issued research reports about the company. Royal Bank Of Canada boosted their target price on Centerspace from $68.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday. Wells Fargo & Company raised their price objective on shares of Centerspace from $60.00 to $74.00 and gave the stock an “equal weight” rating in a report on Monday, November 17th. UBS Group lifted their price target on Centerspace from $63.00 to $66.00 and gave the stock a “neutral” rating in a research note on Thursday, January 8th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Centerspace in a research report on Monday, December 29th. Finally, Raymond James Financial reaffirmed a “market perform” rating on shares of Centerspace in a report on Wednesday, November 12th. Two analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, Centerspace currently has a consensus rating of “Hold” and a consensus target price of $70.29.

Centerspace Stock Down 1.6%

Shares of NYSE CSR opened at $62.36 on Friday. The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of 62.36 and a beta of 0.78. Centerspace has a 52 week low of $52.76 and a 52 week high of $69.15. The firm has a 50-day moving average price of $65.08 and a 200 day moving average price of $61.85. The company has a quick ratio of 0.18, a current ratio of 0.04 and a debt-to-equity ratio of 0.86.

Centerspace (NYSE:CSR) last issued its quarterly earnings data on Tuesday, February 17th. The company reported ($1.10) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.21 by ($2.31). Centerspace had a return on equity of 2.00% and a net margin of 6.25%.The firm had revenue of $66.62 million for the quarter, compared to analyst estimates of $69.77 million. Centerspace has set its FY 2026 guidance at 4.810-5.050 EPS. Equities research analysts anticipate that Centerspace will post 4.94 EPS for the current fiscal year.

Institutional Trading of Centerspace

A number of institutional investors have recently modified their holdings of CSR. Pacific Heights Asset Management LLC lifted its holdings in shares of Centerspace by 12.5% in the 3rd quarter. Pacific Heights Asset Management LLC now owns 225,000 shares of the company’s stock worth $13,252,000 after purchasing an additional 25,000 shares in the last quarter. Phocas Financial Corp. grew its position in Centerspace by 120.0% during the second quarter. Phocas Financial Corp. now owns 122,028 shares of the company’s stock worth $7,345,000 after buying an additional 66,565 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Centerspace by 0.9% in the second quarter. Geode Capital Management LLC now owns 435,025 shares of the company’s stock worth $26,185,000 after purchasing an additional 4,090 shares during the last quarter. Bank of Montreal Can increased its stake in shares of Centerspace by 414.6% during the second quarter. Bank of Montreal Can now owns 26,906 shares of the company’s stock valued at $1,619,000 after buying an additional 21,677 shares during the period. Finally, Cbre Investment Management Listed Real Assets LLC raised its holdings in Centerspace by 131.9% in the 2nd quarter. Cbre Investment Management Listed Real Assets LLC now owns 133,241 shares of the company’s stock worth $8,020,000 after purchasing an additional 75,773 shares during the period. 79.00% of the stock is currently owned by institutional investors.

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. Centerspace was named a Top Workplace for the fourth consecutive year in 2023 by the Minneapolis Star Tribune.