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

Key Points

• Wall Street Zen has downgraded Centerspace (NYSE:CSR) from a "hold" rating to a "sell" rating, reflecting a negative outlook on the company's stock.
• Despite the downgrade, other analysts have varied opinions on Centerspace, with Royal Bank Of Canada giving an "outperform" rating and raising its price objective to $72.00.
• As of the last trading session, Centerspace has a market capitalization of approximately $897.50 million, with the stock price currently at $53.55.

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

Other equities research analysts also recently issued research reports about the company. Piper Sandler cut their price target on Centerspace from $75.00 to $68.00 and set a "neutral" rating on the stock in a report on Monday, May 5th. Raymond James Financial raised 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 report on Thursday, May 15th. UBS Group decreased 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. Finally, Royal Bank Of Canada increased their price objective on Centerspace from $71.00 to $72.00 and gave the stock an "outperform" rating in a research report on Monday, May 5th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $69.75.

Centerspace Stock Performance

CSR stock traded up $0.44 during trading on Friday, hitting $55.52. 21,082 shares of the company traded hands, compared to its average volume of 100,655. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.05 and a quick ratio of 0.05. Centerspace has a 1 year low of $52.76 and a 1 year high of $76.16. The stock's 50-day simple moving average is $59.68 and its 200 day simple moving average is $61.16. The company has a market cap of $930.52 million, a PE ratio of -30.87 and a beta of 0.72.

Centerspace (NYSE:CSR - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The company reported $1.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.26 by $0.02. The firm had revenue of $68.55 million for the quarter, compared to analyst estimates of $67.89 million. Centerspace had a negative return on equity of 2.81% and a negative net margin of 9.13%. On average, equities analysts expect that Centerspace will post 4.94 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Anne Olson acquired 750 shares of the company's stock in a transaction dated Friday, August 8th. The stock was bought at an average price of $55.10 per share, with a total value of $41,325.00. Following the completion of the acquisition, the chief executive officer owned 19,496 shares in the company, valued at approximately $1,074,229.60. This represents a 4.00% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John A. Schissel purchased 500 shares of Centerspace stock in a transaction dated Friday, August 8th. The shares were purchased at an average cost of $54.00 per share, for a total transaction of $27,000.00. Following the completion of the transaction, the director owned 14,398 shares of the company's stock, valued at approximately $777,492. This represents a 3.60% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 1,750 shares of company stock valued at $95,325 over the last three months. 0.44% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Centerspace

Several large investors have recently modified their holdings of the company. Hilltop National Bank purchased a new stake in shares of Centerspace during the 2nd quarter valued at about $29,000. Sterling Capital Management LLC grew its stake in shares of Centerspace by 903.8% during the fourth quarter. Sterling Capital Management LLC now owns 522 shares of the company's stock worth $35,000 after acquiring an additional 470 shares during the last quarter. Wolff Wiese Magana LLC boosted its position in Centerspace by 897.3% in the second quarter. Wolff Wiese Magana LLC now owns 748 shares of the company's stock valued at $45,000 after buying an additional 673 shares during the last quarter. New Age Alpha Advisors LLC purchased a new stake in Centerspace in the 1st quarter worth approximately $86,000. Finally, Summit Investment Advisors Inc. raised its stake in shares of Centerspace by 15.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 1,732 shares of the company's stock worth $115,000 after buying an additional 229 shares during the period. 79.00% of the stock is currently owned by institutional investors and hedge funds.

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.