Centerspace (NYSE:CSR) Raised to Overweight at Piper Sandler

Centerspace (NYSE:CSR) was upgraded by stock analysts at Piper Sandler from a “neutral” rating to an “overweight” rating in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a $72.00 price target on the stock, up from their prior price target of $69.00. Piper Sandler’s target price points to a potential upside of 20.98% from the stock’s previous close.

CSR has been the subject of several other research reports. Cantor Fitzgerald reissued a “neutral” rating and set a $65.00 price target on shares of Centerspace in a report on Monday, January 5th. UBS Group boosted their price target on shares of Centerspace from $63.00 to $66.00 and gave the company a “neutral” rating in a report on Thursday, January 8th. Wall Street Zen downgraded shares of Centerspace from a “hold” rating to a “strong sell” rating in a report on Saturday, February 21st. Wells Fargo & Company reduced their price objective on shares of Centerspace from $74.00 to $69.00 and set an “equal weight” rating for the company in a report on Thursday, March 5th. Finally, Royal Bank Of Canada upped their price objective on shares of Centerspace from $68.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, February 19th. Two analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $68.83.

Centerspace Stock Performance

Shares of CSR opened at $59.52 on Tuesday. Centerspace has a 1 year low of $52.76 and a 1 year high of $69.15. The company has a market cap of $998.08 million, a price-to-earnings ratio of 59.52 and a beta of 0.81. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.04 and a current ratio of 0.04. The firm has a fifty day moving average of $61.83 and a 200-day moving average of $62.65.

Centerspace (NYSE:CSR) last announced its quarterly earnings results on Tuesday, February 17th. The company reported ($1.10) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.21 by ($2.31). Centerspace had a net margin of 6.25% and a return on equity of 2.00%. The firm had revenue of $66.62 million for the quarter, compared to analyst estimates of $69.77 million. Centerspace has set its FY 2026 guidance at 4.810-5.050 EPS. As a group, equities analysts anticipate that Centerspace will post 4.94 earnings per share for the current year.

Institutional Investors Weigh In On Centerspace

Several institutional investors have recently bought and sold shares of the stock. Hsbc Holdings PLC lifted its holdings in Centerspace by 20.8% in the fourth quarter. Hsbc Holdings PLC now owns 26,911 shares of the company’s stock worth $1,796,000 after purchasing an additional 4,626 shares during the period. Capstone Wealth Management Inc. bought a new stake in Centerspace in the fourth quarter worth about $1,397,000. Mercer Global Advisors Inc. ADV raised its position in Centerspace by 17.4% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 4,836 shares of the company’s stock worth $323,000 after acquiring an additional 718 shares in the last quarter. NewEdge Advisors LLC raised its position in Centerspace by 13.8% in the fourth quarter. NewEdge Advisors LLC now owns 17,129 shares of the company’s stock worth $1,143,000 after acquiring an additional 2,074 shares in the last quarter. Finally, XTX Topco Ltd bought a new stake in Centerspace in the fourth quarter worth about $928,000. 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. Centerspace was named a Top Workplace for the fourth consecutive year in 2023 by the Minneapolis Star Tribune.