Royal Bank of Canada Forecasts Strong Price Appreciation for Centerspace (NYSE:CSR) Stock

Centerspace (NYSE:CSR - Get Free Report) had its target price lifted by equities research analysts at Royal Bank of Canada from $71.00 to $72.00 in a report issued on Monday,Benzinga reports. The firm presently has an "outperform" rating on the stock. Royal Bank of Canada's price target would suggest a potential upside of 18.28% from the company's current price.

Several other analysts also recently commented on the stock. Raymond James upgraded shares of Centerspace from a "market perform" rating to an "outperform" rating and set a $66.00 target price on the stock in a report on Monday, April 21st. Wells Fargo & Company initiated coverage on shares of Centerspace in a report on Wednesday, March 19th. They set an "equal weight" rating and a $68.00 price objective on the stock. UBS Group began coverage on shares of Centerspace in a research note on Monday, April 7th. They issued a "neutral" rating and a $67.00 target price for the company. Janney Montgomery Scott upgraded Centerspace from a "neutral" rating to a "buy" rating and set a $72.00 price target on the stock in a report on Wednesday, January 15th. Finally, BMO Capital Markets raised Centerspace from a "market perform" rating to an "outperform" rating and set a $77.00 price objective for the company in a research report on Friday, April 4th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Centerspace has an average rating of "Moderate Buy" and an average price target of $72.00.

Centerspace Trading Down 0.9 %

NYSE:CSR traded down $0.55 during trading hours on Monday, hitting $60.87. The stock had a trading volume of 15,002 shares, compared to its average volume of 110,733. The business's 50 day moving average is $61.73 and its 200-day moving average is $65.02. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.05 and a current ratio of 0.04. The company has a market cap of $1.02 billion, a price-to-earnings ratio of -47.92 and a beta of 0.77. Centerspace has a one year low of $54.13 and a one year high of $76.16.

Centerspace (NYSE:CSR - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $1.21 EPS for the quarter, hitting the consensus estimate of $1.21. Centerspace had a negative return on equity of 1.34% and a negative net margin of 4.34%. The business had revenue of $67.09 million for the quarter, compared to the consensus estimate of $66.70 million. Sell-side analysts anticipate that Centerspace will post 4.94 EPS for the current fiscal year.

Hedge Funds Weigh In On Centerspace

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Centerspace by 8.2% during the 4th quarter. Vanguard Group Inc. now owns 2,594,366 shares of the company's stock worth $171,617,000 after buying an additional 195,629 shares during the period. Barclays PLC raised its stake in Centerspace by 1,553.4% in the 3rd quarter. Barclays PLC now owns 102,859 shares of the company's stock worth $7,249,000 after purchasing an additional 96,638 shares in the last quarter. Norges Bank bought a new stake in Centerspace in the 4th quarter valued at about $4,768,000. Silvercrest Asset Management Group LLC grew its position in shares of Centerspace by 6.9% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 834,251 shares of the company's stock worth $55,186,000 after purchasing an additional 54,204 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Centerspace by 28.5% during the fourth quarter. Northern Trust Corp now owns 230,816 shares of the company's stock worth $15,268,000 after purchasing an additional 51,259 shares during the period. 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.

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