Centerspace (NYSE:CSR) Price Target Cut to $60.00 by Analysts at Wells Fargo & Company

Key Points

• Wells Fargo & Company has lowered its price target for Centerspace (NYSE:CSR) from $68.00 to $60.00, maintaining an "equal weight" rating.
• In contrast, Royal Bank of Canada raised its price target for Centerspace to $72.00 with an "outperform" rating, reflecting a mixed analyst sentiment.
• Recent insider trading includes acquisitions by directors and CFOs, indicating confidence in the company's future, as insiders collectively purchased 1,750 shares valued at $95,325.

Centerspace (NYSE:CSR - Get Free Report) had its price target dropped by investment analysts at Wells Fargo & Company from $68.00 to $60.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an "equal weight" rating on the stock. Wells Fargo & Company's target price indicates a potential upside of 1.10% from the company's current price.

A number of other research analysts also recently commented on CSR. Raymond James Financial raised shares of Centerspace from an "outperform" rating to a "strong-buy" rating and upped their price objective for the company from $66.00 to $69.00 in a research note on Thursday, May 15th. Wall Street Zen cut Centerspace from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. UBS Group decreased their target price on Centerspace from $67.00 to $60.00 and set a "neutral" rating for the company in a report on Tuesday, July 15th. Piper Sandler decreased 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. Finally, Royal Bank Of Canada boosted their target price on Centerspace from $71.00 to $72.00 and gave the stock an "outperform" rating in a report on Monday, May 5th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, Centerspace currently has an average rating of "Moderate Buy" and a consensus target price of $68.75.

Centerspace Trading Up 1.1%

Shares of NYSE CSR traded up $0.63 on Wednesday, reaching $59.35. 82,199 shares of the company traded hands, compared to its average volume of 104,676. Centerspace has a fifty-two week low of $52.76 and a fifty-two week high of $76.16. The company has a 50 day moving average of $57.98 and a 200 day moving average of $60.75. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.97. The stock has a market capitalization of $994.53 million, a PE ratio of -32.97 and a beta of 0.75.

Centerspace (NYSE:CSR - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The company reported $1.28 EPS for the quarter, beating analysts' consensus estimates 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 company had revenue of $68.55 million during the quarter, compared to the consensus estimate of $67.89 million. Centerspace has set its FY 2025 guidance at 4.880-5.000 EPS. On average, equities research analysts forecast that Centerspace will post 4.94 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Anne Olson purchased 750 shares of the firm's stock in a transaction on Friday, August 8th. The stock was purchased at an average price of $55.10 per share, for a total transaction of $41,325.00. Following the acquisition, the chief executive officer directly 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Bhairav Patel purchased 500 shares of the firm's stock in a transaction on Friday, August 8th. The stock was bought at an average price of $54.00 per share, with a total value of $27,000.00. Following the acquisition, the chief financial officer owned 3,733 shares in the company, valued at $201,582. This trade represents a 15.47% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 1,750 shares of company stock worth $95,325 in the last 90 days. 0.44% of the stock is owned by company insiders.

Hedge Funds Weigh In On Centerspace

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