Centerspace (NYSE:CSR) Given Average Recommendation of "Hold" by Brokerages

Key Points

• Analysts collectively rate Centerspace “Hold.” Of nine firms, seven recommend holding, one recommends selling and one recommends buying; the average 12-month price target is $62.80.
• Centerspace shares opened at $52.70, near their 12-month low of $52.02 and below the 50-day and 200-day moving averages of $55.30 and $59.94, respectively.
• The company’s latest quarter beat EPS expectations, reporting a loss of $0.07 per share versus the $0.13 consensus estimate, although revenue of $65.78 million was slightly below forecasts.

Shares of Centerspace (NYSE:CSR - Get Free Report) have been given an average recommendation of "Hold" by the nine research firms that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $62.80.

Several equities analysts have commented on the stock. UBS Group increased their price objective on shares of Centerspace from $66.00 to $70.00 and gave the company a "neutral" rating in a research report on Thursday, May 14th. Piper Sandler reduced their target price on shares of Centerspace from $60.00 to $58.00 and set a "neutral" rating on the stock in a report on Thursday, August 27th. Royal Bank Of Canada decreased their target price on shares of Centerspace from $67.00 to $64.00 and set an "outperform" rating on the stock in a research report on Wednesday, August 5th. Zacks Research downgraded shares of Centerspace from a "hold" rating to a "strong sell" rating in a report on Tuesday, August 18th. Finally, Wall Street Zen upgraded Centerspace from a "sell" rating to a "hold" rating in a research report on Saturday, August 8th.

Centerspace Price Performance

Shares of Centerspace stock opened at $52.70 on Thursday. The firm has a market cap of $884.83 million, a PE ratio of 41.83 and a beta of 0.86. The stock has a 50 day moving average of $55.30 and a 200 day moving average of $59.94. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.87. Centerspace has a 12 month low of $52.02 and a 12 month high of $69.61.

Centerspace (NYSE:CSR - Get Free Report) last posted its earnings results on Monday, August 3rd. The company reported ($0.07) EPS for the quarter, beating analysts' consensus estimates of ($0.13) by $0.06. Centerspace had a return on equity of 2.58% and a net margin of 7.97%.The firm had revenue of $65.78 million during the quarter, compared to the consensus estimate of $66.29 million. Centerspace has set its FY 2026 guidance at 4.580-4.680 EPS. On average, research analysts expect that Centerspace will post 4.67 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Rodney Jones-Tyson bought 1,700 shares of the stock in a transaction dated Monday, June 22nd. The stock was purchased at an average price of $55.26 per share, for a total transaction of $93,942.00. Following the acquisition, the director owned 7,877 shares of the company's stock, valued at $435,283.02. The trade was a 27.52% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John A. Schissel purchased 500 shares of the business's stock in a transaction that occurred on Thursday, June 18th. The shares were purchased at an average price of $54.90 per share, for a total transaction of $27,450.00. Following the completion of the acquisition, the director directly owned 17,195 shares in the company, valued at $944,005.50. The trade was a 2.99% increase in their position. The SEC filing for this purchase provides additional information. 0.49% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Centerspace

Hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada increased its position in Centerspace by 199.5% during the 1st quarter. Royal Bank of Canada now owns 15,720 shares of the company's stock valued at $1,019,000 after purchasing an additional 10,472 shares during the period. AQR Capital Management LLC raised its position in shares of Centerspace by 32.5% in the 1st quarter. AQR Capital Management LLC now owns 4,891 shares of the company's stock worth $317,000 after acquiring an additional 1,200 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Centerspace by 2.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,790 shares of the company's stock worth $958,000 after purchasing an additional 287 shares during the last quarter. Millennium Management LLC boosted its position in Centerspace by 307.3% during the first quarter. Millennium Management LLC now owns 184,051 shares of the company's stock valued at $11,917,000 after purchasing an additional 138,861 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in Centerspace by 17.8% during the first quarter. Goldman Sachs Group Inc. now owns 138,676 shares of the company's stock valued at $8,979,000 after purchasing an additional 20,992 shares in the last quarter. 79.00% of the stock is currently owned by 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. Centerspace was named a Top Workplace for the fourth consecutive year in 2023 by the Minneapolis Star Tribune.

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