Centerspace (NYSE:CSR) Raised to Outperform at BMO Capital Markets

Centerspace (NYSE:CSR) was upgraded by equities research analysts at BMO Capital Markets from a “market perform” rating to an “outperform” rating in a report released on Friday, Marketbeat Ratings reports. The brokerage currently has a $77.00 target price on the stock. BMO Capital Markets’ target price points to a potential upside of 28.03% from the company’s previous close.

Several other brokerages have also recently issued reports on CSR. Janney Montgomery Scott upgraded Centerspace from a “neutral” rating to a “buy” rating and set a $72.00 price target on the stock in a research report on Wednesday, January 15th. Royal Bank of Canada boosted their price target on shares of Centerspace from $72.00 to $73.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Wells Fargo & Company assumed coverage on shares of Centerspace in a research report on Wednesday, March 19th. They set an “equal weight” rating and a $68.00 price objective for the company. Finally, Wedbush began coverage on shares of Centerspace in a report on Tuesday, December 17th. They issued a “neutral” rating and a $72.00 target price on the stock. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $74.00.

Centerspace Stock Performance

Shares of CSR opened at $60.14 on Friday. The firm has a market capitalization of $1.01 billion, a PE ratio of -47.35 and a beta of 0.79. The company has a quick ratio of 0.05, a current ratio of 0.04 and a debt-to-equity ratio of 0.74. The firm has a 50-day moving average price of $63.37 and a 200 day moving average price of $67.00. Centerspace has a 52-week low of $56.06 and a 52-week high of $76.16.

Centerspace (NYSE:CSR) last posted its quarterly earnings data on Tuesday, February 18th. The company reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $1.36. Centerspace had a negative net margin of 4.34% and a negative return on equity of 1.34%. The business had revenue of $66.41 million during the quarter, compared to analysts’ expectations of $65.96 million. On average, sell-side analysts anticipate that Centerspace will post 4.94 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Smartleaf Asset Management LLC lifted 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 valued at $25,000 after acquiring an additional 300 shares in the last quarter. Sterling Capital Management LLC lifted its holdings in shares of Centerspace by 903.8% in 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 boosted its position in shares of Centerspace by 75.9% in the fourth quarter. KBC Group NV now owns 1,080 shares of the company’s stock worth $71,000 after buying an additional 466 shares during the period. Summit Investment Advisors Inc. grew its holdings in shares of Centerspace by 15.2% during the fourth quarter. Summit Investment Advisors Inc. now owns 1,732 shares of the company’s stock valued at $115,000 after buying an additional 229 shares in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in Centerspace during the fourth quarter valued at $196,000. 79.00% of the stock is owned by hedge funds and other institutional investors.

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.