Centerspace (NYSE:CSR) Upgraded at Raymond James

Centerspace (NYSE:CSR) was upgraded by equities research analysts at Raymond James from a “market perform” rating to an “outperform” rating in a research report issued on Friday, Briefing.com reports. The firm currently has a $75.00 price target on the stock. Raymond James’ target price would indicate a potential upside of 12.26% from the stock’s previous close.

A number of other equities analysts also recently issued reports on CSR. Piper Sandler upped their price target on Centerspace from $63.00 to $64.00 and gave the stock a “neutral” rating in a research report on Monday, May 6th. Royal Bank of Canada upped their price target on Centerspace from $66.00 to $68.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. Finally, Compass Point downgraded Centerspace from a “buy” rating to a “neutral” rating and upped their price target for the stock from $65.00 to $68.00 in a research report on Friday, May 3rd. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Centerspace presently has a consensus rating of “Moderate Buy” and an average target price of $67.57.

Centerspace Stock Performance

Shares of NYSE:CSR opened at $66.81 on Friday. The company has a market capitalization of $996.14 million, a price-to-earnings ratio of -83.51, a price-to-earnings-growth ratio of 2.02 and a beta of 0.87. 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 firm has a 50 day moving average of $62.94 and a 200 day moving average of $58.01.

Centerspace (NYSE:CSR) last issued its quarterly earnings data on Monday, April 29th. The company reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of $1.12 by ($1.49). The business had revenue of $64.51 million during the quarter, compared to the consensus estimate of $65.30 million. Centerspace had a negative return on equity of 0.73% and a negative net margin of 2.38%. During the same period last year, the firm earned $1.07 EPS. On average, sell-side analysts predict that Centerspace will post 4.78 earnings per share for the current fiscal year.

Insider Buying and Selling at Centerspace

In other Centerspace news, Director John A. Schissel acquired 500 shares of the business’s stock in a transaction on Monday, March 11th. The stock was bought at an average price of $56.40 per share, for a total transaction of $28,200.00. Following the acquisition, the director now owns 9,522 shares in the company, valued at $537,040.80. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.92% of the stock is owned by corporate insiders.

Institutional Trading of Centerspace

Several institutional investors have recently made changes to their positions in the company. Janus Henderson Group PLC raised its position in shares of Centerspace by 1,438.2% during the 1st 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. Price T Rowe Associates Inc. MD raised its position in Centerspace by 5.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,191 shares of the company’s stock valued at $697,000 after purchasing an additional 652 shares during the period. CANADA LIFE ASSURANCE Co raised its position in Centerspace by 6.0% in the first quarter. CANADA LIFE ASSURANCE Co now owns 30,741 shares of the company’s stock valued at $1,758,000 after purchasing an additional 1,740 shares during the period. UniSuper Management Pty Ltd raised its position in Centerspace by 199.4% in the first quarter. UniSuper Management Pty Ltd now owns 12,785 shares of the company’s stock valued at $731,000 after purchasing an additional 8,515 shares during the period. Finally, Vanguard Group Inc. raised its position in Centerspace by 0.4% in the first quarter. Vanguard Group Inc. now owns 2,401,497 shares of the company’s stock valued at $137,222,000 after purchasing an additional 9,984 shares during the period. 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.