Royal Bank of Canada Forecasts Strong Price Appreciation for Centerspace (NYSE:CSR) Stock

Centerspace (NYSE:CSR) had its price target hoisted by investment analysts at Royal Bank of Canada from $71.00 to $72.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective points to a potential upside of 17.79% from the company’s previous close.

A number of other analysts have also recently commented on the company. Raymond James upgraded Centerspace from a “market perform” rating to an “outperform” rating and set a $66.00 target price on the stock in a research report on Monday, April 21st. Janney Montgomery Scott upgraded Centerspace from a “neutral” rating to a “buy” rating and set a $72.00 price objective for the company in a research note on Wednesday, January 15th. 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 target price on the stock. UBS Group assumed coverage on shares of Centerspace in a research report on Monday, April 7th. They issued a “neutral” rating and a $67.00 price target for the company. Finally, BMO Capital Markets upgraded 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 note on Friday, April 4th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $71.22.

Centerspace Trading Up 0.1 %

CSR opened at $61.13 on Monday. The business’s 50-day simple moving average is $61.57 and its 200-day simple moving average is $64.93. The company has a market cap of $1.02 billion, a P/E ratio of -48.13 and a beta of 0.77. Centerspace has a one year low of $54.13 and a one year high of $76.16. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.05 and a current ratio of 0.04.

Centerspace (NYSE:CSR) last released its quarterly earnings data on Thursday, May 1st. The company reported $1.21 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.21. Centerspace had a negative net margin of 4.34% and a negative return on equity of 1.34%. The company had revenue of $67.09 million for the quarter, compared to analysts’ expectations of $66.70 million. As a group, equities research analysts expect that Centerspace will post 4.94 EPS for the current fiscal year.

Hedge Funds Weigh In On Centerspace

A number of large investors have recently made changes to their positions in CSR. Vanguard Group Inc. increased its holdings in Centerspace by 8.2% in the fourth quarter. Vanguard Group Inc. now owns 2,594,366 shares of the company’s stock valued at $171,617,000 after buying an additional 195,629 shares in the last quarter. Silvercrest Asset Management Group LLC increased its stake in Centerspace by 6.9% in the 4th quarter. Silvercrest Asset Management Group LLC now owns 834,251 shares of the company’s stock valued at $55,186,000 after purchasing an additional 54,204 shares in the last quarter. Geode Capital Management LLC raised its holdings 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 purchasing an additional 28,163 shares during the last quarter. Northern Trust Corp boosted its position in Centerspace by 28.5% during the fourth quarter. Northern Trust Corp now owns 230,816 shares of the company’s stock worth $15,268,000 after purchasing an additional 51,259 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Centerspace by 17.7% in the fourth 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. Hedge funds and other 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.