Royal Bank of Canada Boosts Centerspace (NYSE:CSR) Price Target to $68.00

Centerspace (NYSE:CSR) had its target price increased by equities researchers at Royal Bank of Canada from $66.00 to $68.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s target price indicates a potential downside of 0.76% from the company’s current price.

Separately, Piper Sandler reaffirmed a “neutral” rating and issued a $63.00 target price on shares of Centerspace in a research note on Tuesday, March 26th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.29.

Centerspace Price Performance

Shares of Centerspace stock traded up $1.27 during trading on Wednesday, hitting $68.52. 43,352 shares of the company’s stock traded hands, compared to its average volume of 81,046. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.03 and a quick ratio of 0.03. The firm’s fifty day moving average price is $58.32 and its 200 day moving average price is $55.91. The company has a market cap of $1.02 billion, a PE ratio of -85.65, a PEG ratio of 1.95 and a beta of 0.93. Centerspace has a twelve month low of $46.74 and a twelve month high of $68.68.

Centerspace (NYSE:CSR) last posted its quarterly earnings data on Monday, April 29th. The company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of $1.12 by ($1.49). The firm had revenue of $64.51 million for the quarter, compared to analyst estimates of $65.30 million. Centerspace had a negative return on equity of 0.72% and a negative net margin of 2.38%. During the same period in the previous year, the business posted $1.07 EPS. Analysts forecast that Centerspace will post 4.74 earnings per share for the current year.

Insider Activity

In other news, Director John A. Schissel purchased 500 shares of the business’s stock in a transaction on Monday, March 11th. The shares were acquired at an average price of $56.40 per share, with a total value of $28,200.00. Following the completion of the transaction, the director now owns 9,522 shares of the company’s stock, valued at approximately $537,040.80. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.92% of the company’s stock.

Hedge Funds Weigh In On Centerspace

A number of hedge funds have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. boosted its position in shares of Centerspace by 1.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 251,117 shares of the company’s stock valued at $14,615,000 after buying an additional 3,272 shares during the last quarter. Invesco Ltd. grew its stake in shares of Centerspace by 1.7% in the 3rd quarter. Invesco Ltd. now owns 104,712 shares of the company’s stock worth $6,310,000 after acquiring an additional 1,789 shares in the last quarter. Westwood Holdings Group Inc. purchased a new stake in shares of Centerspace in the fourth quarter valued at about $5,238,000. Principal Financial Group Inc. lifted its position in shares of Centerspace by 5.1% during the first quarter. Principal Financial Group Inc. now owns 82,460 shares of the company’s stock valued at $4,712,000 after purchasing an additional 3,984 shares in the last quarter. Finally, Panagora Asset Management Inc. boosted its holdings in Centerspace by 181.8% during the fourth quarter. Panagora Asset Management Inc. now owns 41,413 shares of the company’s stock worth $2,410,000 after purchasing an additional 26,716 shares during the last quarter. Institutional investors and hedge funds own 79.00% of the company’s stock.

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.