Centerspace (NYSE:CSR) Coverage Initiated by Analysts at Cantor Fitzgerald

Key Points

• Centerspace (NYSE:CSR) has been upgraded to a "hold" rating by Cantor Fitzgerald, while other analysts like Wall Street Zen have downgraded it to a "sell."
• The company reported a Q2 EPS of $1.28, surpassing estimates, and set FY 2025 guidance between 4.880-5.000 EPS.
• Insider trading activity has increased, with the CFO and CEO purchasing shares, indicating confidence in the company's future performance.

Research analysts at Cantor Fitzgerald started coverage on shares of Centerspace (NYSE:CSR - Get Free Report) in a report released on Wednesday, Marketbeat.com reports. The brokerage set a "neutral" rating and a $62.00 price target on the stock. Cantor Fitzgerald's target price indicates a potential upside of 5.48% from the company's current price.

Other analysts have also recently issued research reports about the company. UBS Group dropped their price objective on Centerspace from $67.00 to $60.00 and set a "neutral" rating for the company in a research report on Tuesday, July 15th. Wall Street Zen cut Centerspace from a "hold" rating to a "sell" rating in a research report on Sunday, September 7th. Finally, Wells Fargo & Company dropped their price objective on Centerspace from $68.00 to $60.00 and set an "equal weight" rating for the company in a research report on Wednesday, August 27th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $68.00.

Centerspace Trading Down 0.2%

NYSE:CSR opened at $58.78 on Wednesday. The company has a market capitalization of $985.15 million, a PE ratio of -32.66 and a beta of 0.73. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.97. Centerspace has a 52-week low of $52.76 and a 52-week high of $75.92. The stock has a fifty day simple moving average of $57.23 and a 200-day simple moving average of $59.90.

Centerspace (NYSE:CSR - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.02. The business had revenue of $68.55 million during the quarter, compared to the consensus estimate 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. On average, equities research analysts expect that Centerspace will post 4.94 earnings per share for the current fiscal year.

Insider Buying and Selling at Centerspace

In other Centerspace news, CFO Bhairav Patel purchased 500 shares of the stock in a transaction on Friday, August 8th. The stock was bought at an average price 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 represents a 15.47% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, CEO Anne Olson purchased 750 shares of the stock in a transaction on Friday, August 8th. The stock was acquired at an average price of $55.10 per share, with a total value 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. This trade represents a 4.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 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

Hedge funds and other institutional investors have recently modified their holdings of the company. Illinois Municipal Retirement Fund lifted its stake in shares of Centerspace by 2.6% in the 1st quarter. Illinois Municipal Retirement Fund now owns 8,726 shares of the company's stock valued at $565,000 after purchasing an additional 225 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Centerspace by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 2,603,360 shares of the company's stock valued at $168,568,000 after purchasing an additional 8,994 shares in the last quarter. Cbre Investment Management Listed Real Assets LLC lifted its stake in shares of Centerspace by 157.4% in 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 purchasing an additional 35,139 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Centerspace by 21.9% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 24,322 shares of the company's stock valued at $1,575,000 after purchasing an additional 4,369 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in shares of Centerspace by 32.3% in the 1st quarter. Invesco Ltd. now owns 135,365 shares of the company's stock valued at $8,765,000 after purchasing an additional 33,069 shares in the last quarter. 79.00% of the stock is owned by institutional investors and hedge funds.

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.