Wells Fargo & Company Forecasts Strong Price Appreciation for Centerspace (NYSE:CSR) Stock

Centerspace (NYSE:CSR) had its price target raised by research analysts at Wells Fargo & Company from $69.00 to $70.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 4.30% from the company’s current price.

Several other equities research analysts also recently issued reports on the company. Piper Sandler upgraded Centerspace from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $69.00 to $72.00 in a report on Tuesday, April 7th. Weiss Ratings raised shares of Centerspace from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, May 6th. Royal Bank Of Canada lifted their target price on shares of Centerspace from $70.00 to $71.00 and gave the company an “outperform” rating in a research report on Wednesday, May 6th. Wall Street Zen upgraded Centerspace from a “strong sell” rating to a “sell” rating in a research report on Sunday, May 17th. Finally, UBS Group lifted their price objective on Centerspace from $66.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Centerspace has an average rating of “Hold” and a consensus target price of $69.60.

Centerspace Price Performance

NYSE:CSR traded down $0.37 during trading hours on Monday, hitting $67.12. The company’s stock had a trading volume of 8,109 shares, compared to its average volume of 121,788. The stock has a fifty day simple moving average of $64.11 and a 200-day simple moving average of $64.45. The company has a market capitalization of $1.13 billion, a P/E ratio of 148.87 and a beta of 0.88. Centerspace has a twelve month low of $52.76 and a twelve month high of $69.61. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.03 and a quick ratio of 0.03.

Centerspace (NYSE:CSR) last issued its quarterly earnings results on Monday, May 4th. The company reported ($0.77) EPS for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.48). Centerspace had a return on equity of 0.94% and a net margin of 2.93%.The business had revenue of $65.07 million for the quarter, compared to analyst estimates of $66.54 million. Centerspace has set its FY 2026 guidance at 4.810-5.050 EPS. On average, analysts anticipate that Centerspace will post 4.9 EPS for the current fiscal year.

Hedge Funds Weigh In On Centerspace

Institutional investors and hedge funds have recently modified their holdings of the company. Sound Income Strategies LLC grew its position in Centerspace by 67.4% during the first quarter. Sound Income Strategies LLC now owns 626 shares of the company’s stock valued at $36,000 after buying an additional 252 shares during the period. Covestor Ltd lifted its holdings in shares of Centerspace by 57,100.0% in the 4th quarter. Covestor Ltd now owns 572 shares of the company’s stock valued at $38,000 after acquiring an additional 571 shares during the last quarter. Hantz Financial Services Inc. lifted its position in Centerspace by 998.3% in the third quarter. Hantz Financial Services Inc. now owns 659 shares of the company’s stock worth $39,000 after buying an additional 599 shares during the last quarter. Avalon Trust Co boosted its position in shares of Centerspace by 36.3% during the first quarter. Avalon Trust Co now owns 709 shares of the company’s stock valued at $41,000 after buying an additional 189 shares during the period. Finally, Danske Bank A S purchased a new position in Centerspace in the 4th quarter worth about $47,000. 79.00% of the stock is currently owned by hedge funds and other institutional investors.

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. Centerspace was named a Top Workplace for the fourth consecutive year in 2023 by the Minneapolis Star Tribune.