Centerspace (NYSE:CSR) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Shares of Centerspace (NYSE:CSR - Get Free Report) have been given an average rating of "Moderate Buy" by the nine ratings firms that are currently covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $71.56.

A number of equities research analysts have commented on CSR shares. Piper Sandler reduced their target price on Centerspace from $75.00 to $68.00 and set a "neutral" rating for the company in a report on Monday, May 5th. BMO Capital Markets raised Centerspace from a "market perform" rating to an "outperform" rating and set a $77.00 target price for the company in a report on Friday, April 4th. Royal Bank of Canada raised their price target on Centerspace from $71.00 to $72.00 and gave the company an "outperform" rating in a research report on Monday, May 5th. Wells Fargo & Company initiated coverage on Centerspace in a research report on Wednesday, March 19th. They issued an "equal weight" rating and a $68.00 price target for the company. Finally, UBS Group initiated coverage on Centerspace in a research report on Monday, April 7th. They issued a "neutral" rating and a $67.00 price target for the company.

Centerspace Price Performance

Centerspace stock traded down $1.96 during midday trading on Friday, reaching $62.30. The company's stock had a trading volume of 260,690 shares, compared to its average volume of 111,778. Centerspace has a fifty-two week low of $54.13 and a fifty-two week high of $76.16. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.05 and a current ratio of 0.04. The stock's 50 day simple moving average is $60.97 and its 200 day simple moving average is $64.34. The firm has a market capitalization of $1.04 billion, a PE ratio of -49.05 and a beta of 0.77.

Centerspace (NYSE:CSR - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $1.21 EPS for the quarter, meeting analysts' consensus estimates of $1.21. Centerspace had a negative return on equity of 1.34% and a negative net margin of 4.34%. The company had revenue of $67.09 million during the quarter, compared to the consensus estimate of $66.70 million. On average, equities research analysts forecast that Centerspace will post 4.94 earnings per share for the current year.

Institutional Trading of Centerspace

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CSR. Smartleaf Asset Management LLC increased its position in Centerspace by 370.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 381 shares of the company's stock worth $25,000 after purchasing an additional 300 shares in the last quarter. Sterling Capital Management LLC increased its position in Centerspace by 903.8% during the 4th quarter. Sterling Capital Management LLC now owns 522 shares of the company's stock worth $35,000 after purchasing an additional 470 shares in the last quarter. KBC Group NV increased its position in Centerspace by 75.9% during the 4th quarter. KBC Group NV now owns 1,080 shares of the company's stock worth $71,000 after purchasing an additional 466 shares in the last quarter. New Age Alpha Advisors LLC purchased a new stake in Centerspace during the 1st quarter worth about $86,000. Finally, Summit Investment Advisors Inc. increased its position in Centerspace by 15.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 1,732 shares of the company's stock worth $115,000 after purchasing an additional 229 shares in the last quarter. Hedge funds and other institutional investors 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.