Centerspace (NYSE:CSR) Coverage Initiated at Wells Fargo & Company

Investment analysts at Wells Fargo & Company started coverage on shares of Centerspace (NYSE:CSR) in a report released on Wednesday, Marketbeat reports. The firm set an “equal weight” rating and a $68.00 price target on the stock. Wells Fargo & Company‘s target price would suggest a potential upside of 5.88% from the stock’s previous close.

Several other analysts have also issued reports on the company. Wedbush assumed coverage on Centerspace in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $72.00 price objective on the stock. 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 research note on Wednesday, January 15th. Finally, Royal Bank of Canada raised their price target on Centerspace from $72.00 to $73.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Centerspace presently has an average rating of “Hold” and a consensus price target of $73.63.

Centerspace Price Performance

Shares of CSR opened at $64.23 on Wednesday. The company has a current ratio of 0.04, a quick ratio of 0.05 and a debt-to-equity ratio of 0.74. The company’s fifty day simple moving average is $62.80 and its 200 day simple moving average is $67.86. Centerspace has a 1-year low of $54.90 and a 1-year high of $76.16. The company has a market cap of $1.07 billion, a price-to-earnings ratio of -50.57 and a beta of 0.91.

Centerspace (NYSE:CSR) last released its quarterly earnings data on Tuesday, February 18th. The company reported $1.21 earnings per share for the quarter, topping the consensus estimate of ($0.15) by $1.36. The company had revenue of $66.41 million for the quarter, compared to analyst estimates of $65.96 million. Centerspace had a negative net margin of 4.34% and a negative return on equity of 1.34%. On average, research analysts forecast that Centerspace will post 4.94 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in CSR. JPMorgan Chase & Co. grew its stake in shares of Centerspace by 25.6% in the third quarter. JPMorgan Chase & Co. now owns 193,242 shares of the company’s stock valued at $13,618,000 after acquiring an additional 39,380 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Centerspace by 3.1% in the 3rd quarter. Geode Capital Management LLC now owns 387,517 shares of the company’s stock valued at $27,314,000 after purchasing an additional 11,749 shares during the period. Principal Financial Group Inc. grew its position in shares of Centerspace by 11.6% during the 4th quarter. Principal Financial Group Inc. now owns 90,753 shares of the company’s stock worth $6,003,000 after purchasing an additional 9,415 shares in the last quarter. Captrust Financial Advisors acquired a new position in shares of Centerspace during the 3rd quarter worth approximately $234,000. Finally, Intech Investment Management LLC bought a new position in shares of Centerspace during the third quarter worth approximately $403,000. 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.