Centerspace (NYSE:CSR) Price Target Increased to $73.00 by Analysts at Royal Bank of Canada

Centerspace (NYSE:CSR) had its price target boosted by stock analysts at Royal Bank of Canada from $72.00 to $73.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective indicates a potential upside of 5.29% from the company’s previous close.

Other analysts also recently issued reports about the stock. Piper Sandler boosted their price target on shares of Centerspace from $64.00 to $75.00 and gave the stock a “neutral” rating in a research note on Wednesday. Compass Point downgraded shares of Centerspace from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $65.00 to $68.00 in a research note on Friday, May 3rd. Finally, Raymond James raised shares of Centerspace from a “market perform” rating to an “outperform” rating and set a $75.00 price target for the company in a research note on Friday, May 24th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $69.86.

Centerspace Price Performance

Shares of NYSE CSR traded up $0.31 during mid-day trading on Wednesday, reaching $69.33. 4,554 shares of the company were exchanged, compared to its average volume of 89,638. Centerspace has a 52 week low of $46.74 and a 52 week high of $71.36. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $1.03 billion, a PE ratio of -86.66, a PEG ratio of 2.05 and a beta of 0.88. The company’s 50 day moving average price is $68.37 and its 200 day moving average price is $62.53.

Centerspace (NYSE:CSR) last posted its quarterly earnings data on Monday, July 29th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.20 by ($1.39). The company had revenue of $65.04 million for the quarter, compared to the consensus estimate of $65.90 million. Centerspace had a negative return on equity of 0.67% and a negative net margin of 2.16%. During the same period in the prior year, the firm posted $1.28 earnings per share. Sell-side analysts forecast that Centerspace will post 4.86 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Centerspace

Several hedge funds and other institutional investors have recently modified their holdings of CSR. Janus Henderson Group PLC increased its position in shares of Centerspace by 1,438.2% during the first quarter. Janus Henderson Group PLC now owns 97,940 shares of the company’s stock valued at $5,597,000 after buying an additional 91,573 shares during the period. Westwood Holdings Group Inc. purchased a new stake in Centerspace in the fourth quarter worth about $5,238,000. Cbre Investment Management Listed Real Assets LLC purchased a new stake in Centerspace in the fourth quarter worth about $1,708,000. Panagora Asset Management Inc. grew its holdings in Centerspace by 181.8% in 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 period. Finally, Jackson Creek Investment Advisors LLC purchased a new stake in Centerspace in the fourth quarter worth about $1,025,000. Hedge funds and other institutional investors 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.