Wells Fargo & Company Issues Pessimistic Forecast for Centerspace (NYSE:CSR) Stock Price

Centerspace (NYSE:CSR) had its target price cut by Wells Fargo & Company from $74.00 to $69.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price indicates a potential upside of 9.21% from the company’s previous close.

A number of other research firms also recently issued reports on CSR. UBS Group lifted their price objective on shares of Centerspace from $63.00 to $66.00 and gave the company a “neutral” rating in a report on Thursday, January 8th. Royal Bank Of Canada raised their target price on shares of Centerspace from $68.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, February 19th. Piper Sandler lifted their price target on shares of Centerspace from $66.00 to $69.00 and gave the company a “neutral” rating in a research note on Thursday, February 19th. Cantor Fitzgerald reissued a “neutral” rating and set a $65.00 price target on shares of Centerspace in a research report on Monday, January 5th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Centerspace in a research note on Monday, December 29th. Two research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $69.57.

Centerspace Stock Performance

Shares of Centerspace stock opened at $63.18 on Thursday. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.04 and a quick ratio of 0.04. The firm has a market cap of $1.06 billion, a price-to-earnings ratio of 63.18 and a beta of 0.79. The stock’s 50-day moving average is $64.38 and its 200-day moving average is $62.40. Centerspace has a one year low of $52.76 and a one year high of $69.15.

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

Institutional Trading of Centerspace

Several institutional investors and hedge funds have recently bought and sold shares of the business. Wellington Management Group LLP increased its holdings in shares of Centerspace by 324.4% during the 4th quarter. Wellington Management Group LLP now owns 855,869 shares of the company’s stock worth $57,104,000 after acquiring an additional 654,209 shares during the last quarter. Voss Capital LP bought a new position in shares of Centerspace in the fourth quarter valued at about $22,068,000. Land & Buildings Investment Management LLC lifted its stake in shares of Centerspace by 96.4% during the 3rd quarter. Land & Buildings Investment Management LLC now owns 599,252 shares of the company’s stock worth $35,296,000 after buying an additional 294,086 shares during the last quarter. Long Pond Capital LP boosted its holdings in shares of Centerspace by 108.0% during the 4th quarter. Long Pond Capital LP now owns 444,101 shares of the company’s stock worth $29,630,000 after buying an additional 230,638 shares during the period. Finally, Millennium Management LLC boosted its holdings in shares of Centerspace by 307.3% during the 1st quarter. Millennium Management LLC now owns 184,051 shares of the company’s stock worth $11,917,000 after buying an additional 138,861 shares during the period. 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. Centerspace was named a Top Workplace for the fourth consecutive year in 2023 by the Minneapolis Star Tribune.