Centerspace (NYSE:CSR) Downgraded to Sell Rating by Wall Street Zen

Key Points

• Centerspace has been downgraded from a "hold" to a "sell" rating by Wall Street Zen, indicating a negative outlook for the stock.
• Analyst price targets for Centerspace's stock have varied, with Wells Fargo lowering its target from $68.00 to $60.00, while Raymond James raised it to $69.00.
• Insider buying activity has been noted, with CFO Bhairav Patel purchasing 500 shares and CEO Anne Olson acquiring 750 shares, reflecting confidence in the company's prospects.

Centerspace (NYSE:CSR - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "hold" rating to a "sell" rating in a report issued on Sunday.

Other equities research analysts have also issued reports about the company. UBS Group lowered their price objective on Centerspace from $67.00 to $60.00 and set a "neutral" rating for the company in a research note on Tuesday, July 15th. Wells Fargo & Company decreased their price target on Centerspace from $68.00 to $60.00 and set an "equal weight" rating for the company in a research note on Wednesday, August 27th. Finally, Raymond James Financial raised Centerspace from an "outperform" rating to a "strong-buy" rating and raised their price target for the stock from $66.00 to $69.00 in a research note on Thursday, May 15th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $68.75.

Centerspace Price Performance

CSR traded up $1.21 during trading hours on Friday, hitting $59.20. The company's stock had a trading volume of 83,574 shares, compared to its average volume of 93,696. The stock has a market cap of $992.18 million, a price-to-earnings ratio of -32.89 and a beta of 0.75. The business's 50-day moving average price is $57.66 and its 200-day moving average price is $60.53. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.97. Centerspace has a 12 month low of $52.76 and a 12 month high of $75.92.

Centerspace (NYSE:CSR - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The company reported $1.28 EPS for the quarter, beating the consensus estimate of $1.26 by $0.02. Centerspace had a negative net margin of 9.13% and a negative return on equity of 2.81%. The business had revenue of $68.55 million during the quarter, compared to analyst estimates of $67.89 million. Centerspace has set its FY 2025 guidance at 4.880-5.000 EPS. Sell-side analysts expect that Centerspace will post 4.94 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Bhairav Patel acquired 500 shares of Centerspace stock in a transaction on Friday, August 8th. The shares were bought at an average cost of $54.00 per share, for a total transaction of $27,000.00. Following the acquisition, the chief financial officer directly owned 3,733 shares of the company's stock, valued at $201,582. This trade represents a 15.47% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Anne Olson acquired 750 shares of Centerspace stock in a transaction on Friday, August 8th. The shares were purchased at an average price of $55.10 per share, for a total transaction of $41,325.00. Following the completion of the acquisition, the chief executive officer directly owned 19,496 shares in the company, valued at $1,074,229.60. This trade represents a 4.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 1,750 shares of company stock worth $95,325 in the last ninety days. 0.44% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Hilltop National Bank purchased a new position in Centerspace during the 2nd quarter worth $29,000. Wolff Wiese Magana LLC boosted its position in Centerspace by 897.3% during the 2nd quarter. Wolff Wiese Magana LLC now owns 748 shares of the company's stock valued at $45,000 after acquiring an additional 673 shares in the last quarter. New Age Alpha Advisors LLC bought a new stake in Centerspace during the 1st quarter valued at $86,000. PNC Financial Services Group Inc. boosted its position in Centerspace by 103.4% during the 2nd quarter. PNC Financial Services Group Inc. now owns 2,176 shares of the company's stock valued at $131,000 after acquiring an additional 1,106 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in Centerspace by 64.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,252 shares of the company's stock valued at $136,000 after acquiring an additional 879 shares in the last quarter. 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.