Centerspace (NYSE:CSR) PT Raised to $64.00

Centerspace (NYSE:CSR) had its price objective lifted by Piper Sandler from $63.00 to $64.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Piper Sandler’s price objective would suggest a potential downside of 8.62% from the company’s current price.

A number of other equities analysts also recently commented on CSR. Royal Bank of Canada boosted their target price on shares of Centerspace from $66.00 to $68.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. Compass Point lowered shares of Centerspace from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $65.00 to $68.00 in a research note on Friday, May 3rd. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Centerspace has a consensus rating of “Hold” and a consensus price target of $66.33.

Centerspace Stock Up 1.0 %

Shares of Centerspace stock opened at $70.04 on Monday. The firm’s 50-day moving average is $59.54 and its two-hundred day moving average is $56.36. Centerspace has a 1 year low of $46.74 and a 1 year high of $70.68. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of -87.55, a PEG ratio of 2.07 and a beta of 0.87. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.04 and a quick ratio of 0.04.

Centerspace (NYSE:CSR) last issued its quarterly earnings data on Monday, April 29th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.12 by ($1.49). The business had revenue of $64.51 million for the quarter, compared to analysts’ expectations 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 period in the previous year, the business earned $1.07 earnings per share. As a group, research analysts expect that Centerspace will post 4.75 earnings per share for the current fiscal year.

Insider Activity at Centerspace

In other news, Director John A. Schissel acquired 500 shares of Centerspace stock in a transaction dated Monday, March 11th. The stock was purchased at an average cost of $56.40 per share, for a total transaction of $28,200.00. Following the completion of the purchase, 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 can be accessed through the SEC website. 0.92% of the stock is owned by insiders.

Institutional Trading of Centerspace

A number of hedge funds and other institutional investors have recently made changes to their positions in CSR. Westwood Holdings Group Inc. purchased a new stake in Centerspace in the fourth quarter valued at $5,238,000. Cbre Investment Management Listed Real Assets LLC acquired a new position in Centerspace in the fourth quarter valued at approximately $1,708,000. Panagora Asset Management Inc. increased its holdings in shares of Centerspace by 181.8% during the 4th quarter. Panagora Asset Management Inc. now owns 41,413 shares of the company’s stock valued at $2,410,000 after purchasing an additional 26,716 shares in the last quarter. Jackson Creek Investment Advisors LLC purchased a new position in shares of Centerspace during the 4th quarter valued at approximately $1,025,000. Finally, Centersquare Investment Management LLC acquired a new position in shares of Centerspace in the 4th quarter valued at $681,000. Institutional investors and hedge funds 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.