Centerspace (NYSE:CSR) Given New $53.00 Price Target at Wells Fargo & Company

Key Points

• Wells Fargo lowered Centerspace’s price target from $57 to $53 while maintaining an “equal weight” rating, implying 3.58% downside from the prior close.
• Analyst sentiment remains cautious: the consensus rating is “Hold”, with two Buy ratings and eight Hold ratings, and an average price target of $62.50.
• Centerspace shares fell 1.9% to $54.97, while institutional investors own approximately 79% of the company; BlackRock recently established a position worth about $167.9 million.

Centerspace (NYSE:CSR - Get Free Report) had its price target dropped by Wells Fargo & Company from $57.00 to $53.00 in a report issued on Monday, Benzinga reports. The firm presently has an "equal weight" rating on the stock. Wells Fargo & Company's target price would indicate a potential downside of 3.58% from the company's previous close.

Several other analysts have also issued reports on the company. Piper Sandler cut their price objective on Centerspace from $58.00 to $56.00 and set a "neutral" rating for the company in a report on Monday, October 12th. UBS Group lowered their target price on Centerspace from $68.00 to $65.00 and set a "neutral" rating on the stock in a research note on Wednesday. Zacks Research raised Centerspace from a "strong sell" rating to a "hold" rating in a research report on Tuesday, October 13th. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $57.00 price target on shares of Centerspace in a research note on Thursday, September 10th. Finally, Royal Bank Of Canada reduced their price target on Centerspace from $67.00 to $64.00 and set an "outperform" rating for the company in a report on Wednesday, August 5th. Two investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $62.50.

Centerspace Stock Down 1.9%

Shares of Centerspace stock traded down $1.07 during midday trading on Monday, hitting $54.97. The company's stock had a trading volume of 37,844 shares, compared to its average volume of 171,204. The firm has a market capitalization of $924.60 million, a P/E ratio of 43.64 and a beta of 0.84. The stock has a 50-day simple moving average of $54.97 and a 200-day simple moving average of $58.63. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.87. Centerspace has a 1-year low of $52.00 and a 1-year high of $69.61.

Centerspace (NYSE:CSR - Get Free Report) last issued its quarterly earnings results on Monday, August 3rd. The company reported ($0.07) earnings per share for the quarter, beating analysts' consensus estimates of ($0.13) by $0.06. Centerspace had a return on equity of 2.58% and a net margin of 7.97%. The business had revenue of $65.78 million for the quarter, compared to the consensus estimate of $66.29 million. Centerspace has set its FY 2026 guidance at 4.580-4.680 EPS. As a group, sell-side analysts expect that Centerspace will post 4.67 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. bought a new position in Centerspace in the 2nd quarter worth approximately $167,912,000. Pacific Heights Asset Management LLC bought a new stake in shares of Centerspace in the second quarter valued at approximately $16,857,000. Dimensional Fund Advisors LP boosted its position in shares of Centerspace by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 238,535 shares of the company's stock valued at $13,704,000 after acquiring an additional 2,139 shares during the period. Bank of New York Mellon Corp bought a new stake in shares of Centerspace in the second quarter valued at approximately $7,190,000. Finally, Diamond Hill Capital Management LLC Investment Advisor bought a new stake in shares of Centerspace in the second quarter valued at approximately $7,009,000. Institutional investors own 79.00% of the company's stock.

About Centerspace

Centerspace NYSE: CSR is a real estate investment trust that owns, operates and manages apartment communities. The company focuses on providing rental housing and generating income through multifamily properties, with operations concentrated in select markets across the Upper Midwest and Mountain West regions of the United States.

Its portfolio includes apartment communities serving a range of residents and household needs. Centerspace is involved in property management, leasing, resident services, maintenance and the ongoing improvement of its communities.

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