Centerspace (NYSE:CSR) Given New $68.00 Price Target at UBS Group

Key Points

• UBS raised Centerspace’s price target from $65 to $68 while maintaining a Neutral rating; the target implies 18.95% upside from the prior close.
• Analyst sentiment is mostly cautious: MarketBeat reports an average Hold rating and a $63 consensus price target, though Compass Point rates the stock Buy with an $80 target.
• Centerspace shares fell 0.6% to $57.17 in Tuesday trading. Its latest quarter beat the reported EPS consensus but missed revenue estimates, posting $59.52 million versus $62.74 million expected.

Centerspace (NYSE:CSR - Get Free Report) had its price objective raised by research analysts at UBS Group from $65.00 to $68.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has a "neutral" rating on the stock. UBS Group's price objective suggests a potential upside of 18.95% from the company's previous close.

A number of other analysts have also issued reports on the company. Piper Sandler cut their target price on Centerspace from $58.00 to $56.00 and set a "neutral" rating on the stock in a research report on Monday, October 12th. Zacks Research raised Centerspace from a "strong sell" rating to a "hold" rating in a research note on Tuesday, October 13th. Wall Street Zen raised Centerspace from a "sell" rating to a "hold" rating in a research note on Saturday, August 8th. Cantor Fitzgerald reiterated a "neutral" rating and issued a $57.00 price objective on shares of Centerspace in a report on Thursday, September 10th. Finally, Compass Point raised Centerspace from a "neutral" rating to a "buy" rating and increased their target price for the stock from $64.50 to $80.00 in a research note on Wednesday, September 9th. Two analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $63.00.

Centerspace Trading Down 0.6%

Shares of NYSE CSR traded down $0.34 during midday trading on Tuesday, reaching $57.17. 76,840 shares of the stock were exchanged, compared to its average volume of 174,996. The company has a 50 day simple moving average of $55.99 and a 200 day simple moving average of $59.39. The stock has a market capitalization of $961.53 million, a P/E ratio of 10.67 and a beta of 0.82. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.03 and a current ratio of 0.34. Centerspace has a twelve month low of $52.00 and a twelve month high of $69.61.

Centerspace (NYSE:CSR - Get Free Report) last announced its quarterly earnings results on Monday, November 2nd. The company reported $7.28 EPS for the quarter, beating the consensus estimate of $0.15 by $7.13. The business had revenue of $59.52 million for the quarter, compared to analyst estimates of $62.74 million. Centerspace had a return on equity of 10.82% and a net margin of 35.40%. As a group, equities analysts expect that Centerspace will post 4.67 earnings per share for the current year.

Hedge Funds Weigh In On Centerspace

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Avalon Trust Co raised its stake in Centerspace by 36.3% during the first quarter. Avalon Trust Co now owns 709 shares of the company's stock worth $41,000 after acquiring an additional 189 shares during the period. Amundi boosted its stake in Centerspace by 4.4% in the first quarter. Amundi now owns 11,052 shares of the company's stock valued at $635,000 after acquiring an additional 462 shares during the period. Resona Asset Management Co. Ltd. grew its holdings in shares of Centerspace by 7.2% during the first quarter. Resona Asset Management Co. Ltd. now owns 7,502 shares of the company's stock valued at $431,000 after purchasing an additional 504 shares during the last quarter. Pinnacle Wealth Planning Services Inc. bought a new position in shares of Centerspace during the third quarter valued at approximately $41,000. Finally, State of Wyoming acquired a new stake in shares of Centerspace during the 2nd quarter worth approximately $60,000. 79.00% of the stock is owned by institutional investors and hedge funds.

Centerspace Company Profile

Centerspace is a real estate investment trust that owns and operates apartment communities. Its business includes leasing residential units and providing property management and resident services. The company's portfolio is concentrated in the Upper Midwest and Mountain West, including markets such as Minneapolis–St. Paul, Denver, Colorado Springs and Omaha. Centerspace was formerly known as Investors Real Estate Trust (IRET) and adopted its current name in 2021 as it focused its business on apartment communities.

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