Centerspace (NYSE:CSR) Coverage Initiated by Analysts at UBS Group

Stock analysts at UBS Group started coverage on shares of Centerspace (NYSE:CSR) in a research report issued on Monday, Marketbeat.com reports. The firm set a “neutral” rating and a $67.00 price target on the stock. UBS Group’s price target would indicate a potential upside of 19.28% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on CSR. Royal Bank of Canada lifted their price objective on shares of Centerspace from $72.00 to $73.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. BMO Capital Markets raised Centerspace from a “market perform” rating to an “outperform” rating and set a $77.00 price target for the company in a report on Friday, April 4th. Wells Fargo & Company assumed coverage on Centerspace in a research report on Wednesday, March 19th. They set an “equal weight” rating and a $68.00 price objective for the company. Janney Montgomery Scott raised Centerspace from a “neutral” rating to a “buy” rating and set a $72.00 target price on the stock in a research report on Wednesday, January 15th. Finally, Wedbush started coverage on Centerspace in a report on Tuesday, December 17th. They issued a “neutral” rating and a $72.00 price target for the company. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Centerspace currently has an average rating of “Hold” and a consensus price target of $73.30.

Centerspace Price Performance

Shares of NYSE CSR opened at $56.17 on Monday. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.04 and a quick ratio of 0.05. The company has a market cap of $939.56 million, a price-to-earnings ratio of -44.23 and a beta of 0.79. The stock’s 50-day moving average is $63.07 and its two-hundred day moving average is $66.63. Centerspace has a 1-year low of $55.24 and a 1-year high of $76.16.

Centerspace (NYSE:CSR) last released its earnings results on Tuesday, February 18th. The company reported $1.21 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $1.36. The firm 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%. Analysts forecast that Centerspace will post 4.94 EPS for the current fiscal year.

Institutional Investors Weigh In On Centerspace

A number of institutional investors and hedge funds have recently made changes to their positions in CSR. Smartleaf Asset Management LLC grew its holdings in shares of Centerspace by 370.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 381 shares of the company’s stock worth $25,000 after buying an additional 300 shares during the last quarter. Sterling Capital Management LLC lifted its position in Centerspace by 903.8% during the 4th 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 period. KBC Group NV grew its stake in shares of Centerspace by 75.9% in the 4th quarter. KBC Group NV now owns 1,080 shares of the company’s stock valued at $71,000 after purchasing an additional 466 shares during the last quarter. Summit Investment Advisors Inc. increased its holdings in shares of Centerspace by 15.2% in the fourth quarter. Summit Investment Advisors Inc. now owns 1,732 shares of the company’s stock valued at $115,000 after purchasing an additional 229 shares during the period. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of Centerspace during the fourth quarter worth approximately $196,000. 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.