Centerspace (NYSE:CSR) Lowered 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 research report issued on Sunday.

Other analysts have also recently issued reports about the company. Wells Fargo & Company dropped their price target on Centerspace from $68.00 to $60.00 and set an "equal weight" rating on the stock in a research report on Wednesday, August 27th. Raymond James Financial raised Centerspace from an "outperform" rating to a "strong-buy" rating and boosted their price target for the stock from $66.00 to $69.00 in a research report on Thursday, May 15th. Finally, UBS Group dropped their price target on Centerspace from $67.00 to $60.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 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 stock. According to data from MarketBeat.com, Centerspace currently has a consensus rating of "Moderate Buy" and a consensus target price of $68.75.

Centerspace Stock Performance

Centerspace stock opened at $60.52 on Friday. The stock's 50 day simple moving average is $57.76 and its two-hundred day simple moving average is $60.64. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.05 and a current ratio of 0.05. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of -33.62 and a beta of 0.75. Centerspace has a fifty-two week low of $52.76 and a fifty-two week high of $75.92.

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

Insider Buying and Selling

In other news, CFO Bhairav Patel acquired 500 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The stock was 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 in the company, valued at approximately $201,582. The trade was a 15.47% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Anne Olson acquired 750 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The stock was purchased at an average price of $55.10 per share, with a total value of $41,325.00. Following the completion of the acquisition, the chief executive officer owned 19,496 shares in the company, valued at $1,074,229.60. The trade was a 4.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 1,750 shares of company stock worth $95,325 in the last three months. Insiders own 0.44% of the company's stock.

Hedge Funds Weigh In On Centerspace

A number of hedge funds have recently added to or reduced their stakes in CSR. Illinois Municipal Retirement Fund raised its stake in Centerspace by 2.6% during the 1st quarter. Illinois Municipal Retirement Fund now owns 8,726 shares of the company's stock valued at $565,000 after buying an additional 225 shares during the last quarter. Vanguard Group Inc. raised its stake in Centerspace by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 2,603,360 shares of the company's stock valued at $168,568,000 after buying an additional 8,994 shares during the last quarter. Cbre Investment Management Listed Real Assets LLC raised its stake in Centerspace by 157.4% during the 1st quarter. Cbre Investment Management Listed Real Assets LLC now owns 57,468 shares of the company's stock valued at $3,721,000 after buying an additional 35,139 shares during the last quarter. Deutsche Bank AG raised its stake in Centerspace by 28.5% during the 4th quarter. Deutsche Bank AG now owns 19,400 shares of the company's stock valued at $1,283,000 after buying an additional 4,301 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its stake in Centerspace by 21.9% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 24,322 shares of the company's stock valued at $1,575,000 after buying an additional 4,369 shares during the last quarter. 79.00% of the stock is currently owned by hedge funds and other institutional investors.

Centerspace Company Profile

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.

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