Centerspace (NYSE:CSR) Hits New 12-Month Low - What's Next?

Key Points

• Centerspace shares fell to a new 52-week low of $52.13, trading below both their 50-day and 200-day moving averages. The stock has an average analyst rating of “Hold” with a consensus price target of $62.80.
• Analyst sentiment has weakened, including a Zacks downgrade to “Strong Sell” and reduced price targets from Piper Sandler and Royal Bank of Canada, although UBS raised its target to $70 while maintaining a neutral rating.
• Centerspace exceeded quarterly EPS expectations but slightly missed revenue estimates, while institutional investors own approximately 79% of the company. Two directors also purchased shares in June at prices near the current trading level.

Centerspace (NYSE:CSR - Get Free Report) shares reached a new 52-week low on Wednesday . The company traded as low as $52.13 and last traded at $52.36, with a volume of 91839 shares. The stock had previously closed at $52.49.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Zacks Research cut shares of Centerspace from a "hold" rating to a "strong sell" rating in a research note on Tuesday, August 18th. Piper Sandler decreased their target price on shares of Centerspace from $60.00 to $58.00 and set a "neutral" rating on the stock in a research report on Thursday, August 27th. UBS Group upped their target price on shares of Centerspace from $66.00 to $70.00 and gave the company a "neutral" rating in a research note on Thursday, May 14th. Weiss Ratings lowered shares of Centerspace from a "hold (c)" rating to a "hold (c-)" rating in a research report on Wednesday, August 19th. Finally, Royal Bank Of Canada cut their price target on shares of Centerspace from $67.00 to $64.00 and set an "outperform" rating for the company in a research note on Wednesday, August 5th. One analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Centerspace has an average rating of "Hold" and a consensus price target of $62.80.

Centerspace Stock Performance

The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.87. The stock has a fifty day simple moving average of $55.39 and a 200-day simple moving average of $60.01. The company has a market capitalization of $879.12 million, a P/E ratio of 41.56 and a beta of 0.86.

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

Insider Activity

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

Hedge Funds Weigh In On Centerspace

Several large investors have recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in Centerspace in the second quarter worth about $167,912,000. Wellington Management Group LLP lifted its position in Centerspace by 324.4% during the 4th quarter. Wellington Management Group LLP now owns 855,869 shares of the company's stock valued at $57,104,000 after purchasing an additional 654,209 shares during the period. Long Pond Capital LP boosted its stake in shares of Centerspace by 108.0% in the 4th quarter. Long Pond Capital LP now owns 444,101 shares of the company's stock valued at $29,630,000 after purchasing an additional 230,638 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Centerspace by 9.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 340,286 shares of the company's stock valued at $22,704,000 after purchasing an additional 28,809 shares during the last quarter. Finally, Voss Capital LP acquired a new stake in shares of Centerspace during the 4th quarter worth approximately $22,068,000. Institutional investors and hedge funds own 79.00% of the company's stock.

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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