Centerspace (NYSE:CSR) Stock Rating Upgraded by Wall Street Zen

Key Points

• Centerspace (NYSE:CSR) has been upgraded by Wall Street Zen from a "sell" rating to a "hold" rating, reflecting a shift in analyst sentiment towards the stock.
• The stock has an average rating of "Moderate Buy" and a target price of $68.75, with various firms adjusting their price targets recently.
• Insider purchases were reported, with CEO Anne Olson and Director John A. Schissel each acquiring shares, indicating confidence in the company's future performance.

Centerspace (NYSE:CSR - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued to investors on Saturday.

A number of other brokerages have also commented on CSR. Raymond James Financial upgraded Centerspace from an "outperform" rating to a "strong-buy" rating and upped their target price for the company from $66.00 to $69.00 in a research note on Thursday, May 15th. Piper Sandler cut their price target on shares of Centerspace from $75.00 to $68.00 and set a "neutral" rating for the company in a research note on Monday, May 5th. Royal Bank Of Canada raised their target price on Centerspace from $71.00 to $72.00 and gave the stock an "outperform" rating in a research report on Monday, May 5th. Wells Fargo & Company cut their price objective on Centerspace from $68.00 to $60.00 and set an "equal weight" rating for the company in a report on Wednesday, August 27th. Finally, UBS Group cut their price target on shares of Centerspace from $67.00 to $60.00 and set a "neutral" rating for the company in a report on Tuesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $68.75.

Centerspace Stock Up 1.4%

Shares of NYSE:CSR traded up $0.85 during trading on Friday, reaching $59.72. 86,509 shares of the company traded hands, compared to its average volume of 94,055. The firm has a market cap of $1.00 billion, a P/E ratio of -33.18 and a beta of 0.75. Centerspace has a 1-year low of $52.76 and a 1-year high of $76.16. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.97. The firm has a fifty day simple moving average of $57.75 and a 200 day simple moving average of $60.68.

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

Insider Activity at Centerspace

In other Centerspace news, CEO Anne Olson purchased 750 shares of the stock in a transaction on Friday, August 8th. The stock was bought at an average cost 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 of the company's stock, valued at $1,074,229.60. The trade was a 4.00% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John A. Schissel purchased 500 shares of Centerspace stock in a transaction dated 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 director directly owned 14,398 shares of the company's stock, valued at approximately $777,492. This trade represents a 3.60% 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 quarter. Corporate insiders own 0.44% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Nuveen LLC bought a new stake in shares of Centerspace during the first quarter worth approximately $13,147,000. Millennium Management LLC increased its holdings in shares of Centerspace by 307.3% during the first quarter. Millennium Management LLC now owns 184,051 shares of the company's stock worth $11,917,000 after purchasing an additional 138,861 shares during the period. Systematic Financial Management LP bought a new position in shares of Centerspace during the second quarter worth approximately $7,662,000. Allianz Asset Management GmbH bought a new stake in shares of Centerspace in the first quarter valued at approximately $6,388,000. Finally, Strs Ohio grew its position in Centerspace by 3,025.8% during the second quarter. Strs Ohio now owns 96,900 shares of the company's stock worth $5,832,000 after buying an additional 93,800 shares in the last quarter. 79.00% of the stock is currently owned by 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.