Weiss Ratings Reiterates Sell (D+) Rating for Centerspace (NYSE:CSR)

Key Points

• Weiss Ratings has reiterated a "sell (D+)" rating for Centerspace (NYSE:CSR), indicating ongoing concerns about the stock's performance.
• UBS Group has reduced Centerspace's price target from $67.00 to $60.00 while maintaining a "neutral" rating, reflecting a cautious outlook from multiple brokerages.
• Centerspace's stock is currently trading at $58.97, below its 50-day moving average of $57.40, suggesting recent underperformance in the market.

Centerspace (NYSE:CSR - Get Free Report)'s stock had its "sell (d+)" rating reaffirmed by Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

Several other brokerages also recently issued reports on CSR. UBS Group lowered their price target on Centerspace from $67.00 to $60.00 and set a "neutral" rating for the company in a report on Tuesday, July 15th. Wall Street Zen lowered shares of Centerspace from a "hold" rating to a "sell" rating in a research note on Sunday, September 7th. Cantor Fitzgerald assumed coverage on shares of Centerspace in a research note on Wednesday, October 1st. They issued a "neutral" rating and a $62.00 price target on the stock. Finally, Wells Fargo & Company lowered their price objective on shares of Centerspace from $68.00 to $60.00 and set an "equal weight" rating on the stock in a research note on Wednesday, August 27th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $68.00.

Centerspace Stock Performance

Shares of CSR traded down $0.05 during mid-day trading on Wednesday, reaching $58.97. The company had a trading volume of 94,736 shares, compared to its average volume of 119,968. 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 stock has a 50 day moving average of $57.40 and a two-hundred day moving average of $59.72. The stock has a market capitalization of $988.34 million, a P/E ratio of -32.76 and a beta of 0.73. Centerspace has a 52-week low of $52.76 and a 52-week high of $75.92.

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

Insider Transactions at Centerspace

In other Centerspace news, Director John A. Schissel acquired 500 shares of the company's stock in a transaction on Friday, August 8th. The shares were purchased at an average cost of $54.00 per share, with a total value of $27,000.00. Following the completion of the purchase, 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Anne Olson acquired 750 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The shares were bought at an average price of $55.10 per share, with a total value of $41,325.00. Following 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 position. The disclosure for this purchase can be found here. Insiders bought a total of 1,750 shares of company stock worth $95,325 over the last three months. 0.44% of the stock is owned by company insiders.

Institutional Trading of Centerspace

A number of hedge funds and other institutional investors have recently bought and sold shares of CSR. Hilltop National Bank acquired a new stake in Centerspace in the 2nd quarter valued at about $29,000. Wolff Wiese Magana LLC grew its position in shares of 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 purchasing an additional 673 shares during the period. New Age Alpha Advisors LLC purchased a new stake in shares of Centerspace in the first quarter valued at $86,000. PNC Financial Services Group Inc. boosted its position in shares of Centerspace by 103.4% in the second quarter. PNC Financial Services Group Inc. now owns 2,176 shares of the company's stock worth $131,000 after buying an additional 1,106 shares during the period. Finally, Tower Research Capital LLC TRC raised its stake in Centerspace by 64.0% during the second quarter. Tower Research Capital LLC TRC now owns 2,252 shares of the company's stock valued at $136,000 after buying an additional 879 shares in the last quarter. Hedge funds and other institutional investors 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.

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