Centerspace (NYSE:CSR) Stock Gets Price Target Reduction from Piper Sandler

Key Points

• Piper Sandler lowered Centerspace’s price target from $58 to $56 while maintaining a “neutral” rating, implying roughly 0.22% downside from the prior close.
• Analyst sentiment remains broadly cautious: Centerspace has an average “Hold” rating and a consensus price target of $63.67, based on two Buy, seven Hold, and one Sell ratings.
• Centerspace shares traded at $56.12, while institutional investors own approximately 79% of the company; BlackRock and several other institutions established or expanded positions recently.

Centerspace (NYSE:CSR - Get Free Report) had its price objective decreased by research analysts at Piper Sandler from $58.00 to $56.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has a "neutral" rating on the stock. Piper Sandler's price target suggests a potential downside of 0.22% from the company's previous close.

CSR has been the subject of a number of other research reports. Weiss Ratings downgraded shares of Centerspace from a "hold (c)" rating to a "hold (c-)" rating in a report on Wednesday, August 19th. Cantor Fitzgerald reiterated a "neutral" rating and issued a $57.00 price target on shares of Centerspace in a research report on Thursday, September 10th. Compass Point raised Centerspace from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $64.50 to $80.00 in a research note on Wednesday, September 9th. UBS Group decreased their price objective on Centerspace from $70.00 to $68.00 and set a "neutral" rating on the stock in a research report on Tuesday, September 15th. Finally, Zacks Research downgraded Centerspace from a "hold" rating to a "strong sell" rating in a research report on Tuesday, August 18th. Two investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Centerspace presently has an average rating of "Hold" and an average target price of $63.67.

Centerspace Stock Performance

Shares of CSR stock traded up $0.24 during trading hours on Monday, reaching $56.12. 29,525 shares of the company traded hands, compared to its average volume of 171,407. Centerspace has a 12-month low of $52.00 and a 12-month high of $69.61. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.03 and a quick ratio of 0.03. The company has a market cap of $944.25 million, a P/E ratio of 44.59 and a beta of 0.84. The firm has a 50-day moving average price of $54.97 and a 200 day moving average price of $58.70.

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. BlackRock Inc. bought a new stake in shares of Centerspace in the 2nd quarter valued at about $167,912,000. Pacific Heights Asset Management LLC acquired a new stake in shares of Centerspace in the 2nd quarter worth $16,857,000. Dimensional Fund Advisors LP boosted its stake in Centerspace by 0.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 238,535 shares of the company's stock worth $13,704,000 after purchasing an additional 2,139 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in Centerspace during the 2nd quarter valued at about $7,190,000. Finally, Diamond Hill Capital Management LLC Investment Advisor purchased a new stake in 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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