Centerspace (NYSE:CSR) Upgraded to “Outperform” at Raymond James

Raymond James upgraded shares of Centerspace (NYSE:CSR) from a market perform rating to an outperform rating in a report published on Friday morning, MarketBeat reports. They currently have $75.00 target price on the stock.

CSR has been the topic of a number of other reports. Compass Point cut shares of Centerspace from a buy rating to a neutral rating and boosted their target price for the company from $65.00 to $68.00 in a research note on Friday, May 3rd. Piper Sandler upped their price target on Centerspace from $63.00 to $64.00 and gave the company a neutral rating in a research report on Monday, May 6th. Finally, Royal Bank of Canada boosted their price objective on Centerspace from $66.00 to $68.00 and gave the company an outperform rating in a research note on Wednesday, May 1st. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Centerspace presently has a consensus rating of Moderate Buy and a consensus target price of $67.57.

Centerspace Stock Up 1.4 %

Shares of NYSE CSR traded up $0.92 during trading hours on Friday, hitting $67.74. The company had a trading volume of 51,153 shares, compared to its average volume of 90,479. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.77. The firm’s 50 day moving average is $63.17 and its 200-day moving average is $58.12. Centerspace has a 1-year low of $46.74 and a 1-year high of $71.36.

Centerspace (NYSE:CSR) last announced its quarterly earnings data on Monday, April 29th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.12 by ($1.49). Centerspace had a negative net margin of 2.38% and a negative return on equity of 0.73%. The firm had revenue of $64.51 million during the quarter, compared to the consensus estimate of $65.30 million. During the same period last year, the business earned $1.07 earnings per share. Analysts predict that Centerspace will post 4.78 EPS for the current year.

Insider Buying and Selling

In other Centerspace news, Director John A. Schissel purchased 500 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were acquired at an average price of $56.40 per share, for a total transaction of $28,200.00. Following the completion of the purchase, the director now owns 9,522 shares of the company’s stock, valued at $537,040.80. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 0.92% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Janus Henderson Group PLC lifted its stake in shares of Centerspace by 1,438.2% in the 1st quarter. Janus Henderson Group PLC now owns 97,940 shares of the company’s stock valued at $5,597,000 after purchasing an additional 91,573 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Centerspace by 5.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,191 shares of the company’s stock valued at $697,000 after buying an additional 652 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its position in Centerspace by 6.0% in the first quarter. CANADA LIFE ASSURANCE Co now owns 30,741 shares of the company’s stock worth $1,758,000 after acquiring an additional 1,740 shares in the last quarter. UniSuper Management Pty Ltd boosted its position in shares of Centerspace by 199.4% during the 1st quarter. UniSuper Management Pty Ltd now owns 12,785 shares of the company’s stock worth $731,000 after purchasing an additional 8,515 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Centerspace by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 2,401,497 shares of the company’s stock valued at $137,222,000 after purchasing an additional 9,984 shares in the last quarter. 79.00% of the stock is owned by hedge funds and other institutional investors.

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.