Centerspace (NYSE:CSR) Stock Price Target Raised at UBS Group

Centerspace (NYSE:CSR) had its price target upped by equities researchers at UBS Group from $65.00 to $68.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. UBS Group‘s target price suggests a potential upside of 18.95% from the company’s current price.

Several other research analysts have also recently commented on the stock. Wells Fargo & Company decreased their target price on shares of Centerspace from $57.00 to $53.00 and set an “equal weight” rating for the company in a research report on Monday, October 19th. Piper Sandler cut their price target on Centerspace from $58.00 to $56.00 and set a “neutral” rating on the stock in a report on Monday, October 12th. Weiss Ratings downgraded Centerspace from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, August 19th. Compass Point raised Centerspace from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $64.50 to $80.00 in a report on Wednesday, September 9th. Finally, Royal Bank Of Canada lowered their target price on Centerspace from $67.00 to $64.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 5th. Two research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, Centerspace currently has a consensus rating of “Hold” and a consensus target price of $63.00.

Centerspace Stock Performance

Shares of CSR traded down $0.34 during midday trading on Tuesday, hitting $57.17. 76,840 shares of the stock traded hands, compared to its average volume of 174,996. The business’s 50 day moving average price is $55.99 and its two-hundred day moving average price is $59.39. The firm has a market capitalization of $961.53 million, a PE ratio of 10.67 and a beta of 0.82. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.03 and a current ratio of 0.34. Centerspace has a 1-year low of $52.00 and a 1-year high of $69.61.

Centerspace (NYSE:CSR) last released its quarterly earnings data on Monday, November 2nd. The company reported $7.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $7.13. The business had revenue of $59.52 million for the quarter, compared to analysts’ expectations of $62.74 million. Centerspace had a net margin of 35.40% and a return on equity of 10.82%. Equities research analysts predict that Centerspace will post 4.67 EPS for the current fiscal year.

Institutional Trading of Centerspace

A number of hedge funds have recently bought and sold shares of the company. Pacific Heights Asset Management LLC acquired a new position in shares of Centerspace during the second quarter valued at about $16,857,000. Bank of America Corp DE bought a new stake in Centerspace in the second quarter valued at $1,041,000. Bank of New York Mellon Corp acquired a new stake in shares of Centerspace during the 2nd quarter worth about $7,190,000. Legal & General Group Plc bought a new position in shares of Centerspace in the second quarter valued at approximately $5,386,000. Finally, BlackRock Inc. acquired a new position in Centerspace in the second quarter worth $167,912,000. 79.00% of the stock is owned by hedge funds and other institutional investors.

About Centerspace

Centerspace is a real estate investment trust that owns and operates apartment communities. Its business includes leasing residential units and providing property management and resident services. The company’s portfolio is concentrated in the Upper Midwest and Mountain West, including markets such as Minneapolis–St. Paul, Denver, Colorado Springs and Omaha. Centerspace was formerly known as Investors Real Estate Trust (IRET) and adopted its current name in 2021 as it focused its business on apartment communities.