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

Centerspace (NYSE:CSR) was upgraded by research analysts at Raymond James from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Monday, MarketBeat Ratings reports. The brokerage currently has a $66.00 target price on the stock. Raymond James’ price objective would indicate a potential upside of 8.66% from the stock’s current price.

A number of other equities research analysts also recently weighed in on the stock. BMO Capital Markets raised shares of Centerspace from a “market perform” rating to an “outperform” rating and set a $77.00 target price on the stock in a research note on Friday, April 4th. Janney Montgomery Scott raised 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. Wells Fargo & Company started coverage on Centerspace in a research report on Wednesday, March 19th. They set an “equal weight” rating and a $68.00 price target on the stock. Royal Bank of Canada upped their price objective on Centerspace from $72.00 to $73.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. Finally, UBS Group initiated coverage on Centerspace in a report on Monday, April 7th. They set a “neutral” rating and a $67.00 price objective on the stock. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $71.70.

Centerspace Stock Up 3.6 %

CSR opened at $60.74 on Monday. The firm has a market capitalization of $1.02 billion, a P/E ratio of -47.83 and a beta of 0.79. Centerspace has a one year low of $54.13 and a one year high of $76.16. The company has a fifty day moving average price of $62.29 and a 200-day moving average price of $65.63. 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 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. The company had revenue of $66.41 million during the quarter, compared to analyst estimates of $65.96 million. Centerspace had a negative return on equity of 1.34% and a negative net margin of 4.34%. Equities research analysts expect that Centerspace will post 4.94 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CSR. Smartleaf Asset Management LLC grew its holdings in 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 during the last quarter. Sterling Capital Management LLC grew its stake in shares of Centerspace by 903.8% in the fourth quarter. Sterling Capital Management LLC now owns 522 shares of the company’s stock worth $35,000 after purchasing an additional 470 shares during the last quarter. KBC Group NV increased its holdings in Centerspace by 75.9% during the 4th 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 period. Summit Investment Advisors Inc. raised its position in Centerspace by 15.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 1,732 shares of the company’s stock valued at $115,000 after purchasing an additional 229 shares during the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new stake in Centerspace in the 4th quarter worth approximately $196,000. 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.