Centerspace (NYSE:CSR) Rating Lowered to Neutral at Compass Point

Centerspace (NYSE:CSR) was downgraded by analysts at Compass Point from a “buy” rating to a “neutral” rating in a research report issued on Friday, MarketBeat Ratings reports. They currently have a $68.00 price objective on the stock, up from their previous price objective of $65.00. Compass Point’s price target would indicate a potential downside of 1.03% from the stock’s current price.

A number of other brokerages have also commented on CSR. Royal Bank of Canada upped their price objective on Centerspace from $66.00 to $68.00 and gave the company an “outperform” rating in a report on Wednesday. Piper Sandler reaffirmed a “neutral” rating and set a $63.00 price target on shares of Centerspace in a research report on Tuesday, March 26th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $66.17.

Centerspace Price Performance

NYSE:CSR opened at $68.71 on Friday. The company has a market cap of $1.02 billion, a P/E ratio of -86.07, a P/E/G ratio of 2.07 and a beta of 0.87. The firm’s fifty day moving average price is $59.26 and its two-hundred day moving average price is $56.25. Centerspace has a one year low of $46.74 and a one 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 0.03.

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

Insider Buying and Selling

In other Centerspace news, Director John A. Schissel bought 500 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were purchased at an average price of $56.40 per share, for a total transaction of $28,200.00. Following the completion of the transaction, the director now directly owns 9,522 shares in the company, valued at approximately $537,040.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.92% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Centerspace

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Daiwa Securities Group Inc. raised its position in Centerspace by 4.9% in the first quarter. Daiwa Securities Group Inc. now owns 4,764 shares of the company’s stock valued at $272,000 after purchasing an additional 222 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in Centerspace by 4.6% during the 3rd quarter. Nisa Investment Advisors LLC now owns 6,605 shares of the company’s stock worth $398,000 after buying an additional 290 shares during the period. Asset Management One Co. Ltd. boosted its position in Centerspace by 1.3% during the 4th quarter. Asset Management One Co. Ltd. now owns 23,023 shares of the company’s stock worth $1,366,000 after buying an additional 301 shares during the period. SG Americas Securities LLC grew its holdings in Centerspace by 2.6% during the 4th quarter. SG Americas Securities LLC now owns 12,662 shares of the company’s stock worth $737,000 after acquiring an additional 318 shares during the last quarter. Finally, New York State Common Retirement Fund increased its position in Centerspace by 1.6% in the 4th quarter. New York State Common Retirement Fund now owns 20,679 shares of the company’s stock valued at $1,204,000 after acquiring an additional 329 shares during the period. Institutional investors own 79.00% of the company’s stock.

About Centerspace

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.