Centerspace (NYSE:CSR) Price Target Raised to $64.00 at Piper Sandler

Centerspace (NYSE:CSR) had its price objective hoisted by analysts at Piper Sandler from $63.00 to $64.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Piper Sandler’s price objective indicates a potential downside of 6.85% from the company’s current price.

Several other brokerages have also weighed in on CSR. Compass Point lowered Centerspace from a “buy” rating to a “neutral” rating and lifted their price target for the company from $65.00 to $68.00 in a research note on Friday. Royal Bank of Canada upped their price objective on shares of Centerspace from $66.00 to $68.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $66.33.

Centerspace Trading Down 0.4 %

Shares of Centerspace stock opened at $68.71 on Monday. The firm has a fifty day moving average price of $59.26 and a 200 day moving average price of $56.25. The stock has a market cap of $1.02 billion, a PE ratio of -85.89, a price-to-earnings-growth ratio of 2.07 and a beta of 0.87. Centerspace has a 1 year low of $46.74 and a 1 year high of $69.97. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.04 and a quick ratio of 0.04.

Centerspace (NYSE:CSR) last released its quarterly earnings data on Monday, April 29th. The company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of $1.12 by ($1.49). Centerspace had a negative net margin of 2.38% and a negative return on equity of 0.73%. The company had revenue of $64.51 million for the quarter, compared to analysts’ expectations of $65.30 million. During the same quarter in the previous year, the business posted $1.07 EPS. Equities research analysts predict that Centerspace will post 4.75 earnings per share for the current year.

Insider Activity

In related news, Director John A. Schissel purchased 500 shares of the company’s stock in a transaction on Monday, March 11th. The stock was bought 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.92% of the company’s stock.

Hedge Funds Weigh In On Centerspace

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. ICA Group Wealth Management LLC acquired a new stake in shares of Centerspace during the 4th quarter valued at $55,000. Van ECK Associates Corp lifted its stake in shares of Centerspace by 19.7% in the fourth quarter. Van ECK Associates Corp now owns 2,118 shares of the company’s stock valued at $123,000 after buying an additional 348 shares during the period. Meeder Asset Management Inc. bought a new position in Centerspace during the fourth quarter worth about $149,000. Allspring Global Investments Holdings LLC bought a new position in Centerspace during the first quarter worth about $173,000. Finally, DekaBank Deutsche Girozentrale increased its holdings in shares of Centerspace by 18.8% during the third quarter. DekaBank Deutsche Girozentrale now owns 3,709 shares of the company’s stock worth $224,000 after buying an additional 587 shares in the last quarter. 79.00% of the stock is owned by 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.