Centerspace (NYSE:CSR) Price Target Lowered to $68.00 at Piper Sandler

Centerspace (NYSE:CSR) had its price objective reduced by Piper Sandler from $75.00 to $68.00 in a report issued on Monday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Piper Sandler’s price objective indicates a potential upside of 11.25% from the company’s current price.

Other equities research analysts have also issued research reports about the stock. BMO Capital Markets raised shares of Centerspace from a “market perform” rating to an “outperform” rating and set a $77.00 price target on the stock in a report on Friday, April 4th. 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 report on Wednesday, January 15th. 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 target for the company. Royal Bank of Canada lifted their price objective on Centerspace from $71.00 to $72.00 and gave the stock an “outperform” rating in a research report on Monday. Finally, UBS Group initiated coverage on Centerspace in a report on Monday, April 7th. They set a “neutral” rating and a $67.00 target price for the company. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $71.22.

Centerspace Trading Up 0.1 %

NYSE CSR opened at $61.13 on Monday. The firm has a market cap of $1.02 billion, a PE ratio of -48.13 and a beta of 0.77. Centerspace has a 1-year low of $54.13 and a 1-year high of $76.16. The stock has a 50-day moving average of $61.57 and a 200-day moving average of $64.93. The company has a current ratio of 0.04, a quick ratio of 0.05 and a debt-to-equity ratio of 0.74.

Centerspace (NYSE:CSR) last released its quarterly earnings data on Thursday, May 1st. The company reported $1.21 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.21. Centerspace had a negative return on equity of 1.34% and a negative net margin of 4.34%. The firm had revenue of $67.09 million during the quarter, compared to analyst estimates of $66.70 million. As a group, sell-side analysts forecast that Centerspace will post 4.94 EPS for the current year.

Institutional Trading of Centerspace

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of Centerspace by 8.2% in the 4th quarter. Vanguard Group Inc. now owns 2,594,366 shares of the company’s stock worth $171,617,000 after acquiring an additional 195,629 shares in the last quarter. Allianz Asset Management GmbH purchased a new stake in Centerspace in the first quarter worth about $6,388,000. Barclays PLC increased its stake in shares of Centerspace by 1,553.4% during the third quarter. Barclays PLC now owns 102,859 shares of the company’s stock valued at $7,249,000 after purchasing an additional 96,638 shares in the last quarter. Norges Bank purchased a new position in shares of Centerspace during the fourth quarter valued at approximately $4,768,000. Finally, Silvercrest Asset Management Group LLC boosted its position in shares of Centerspace by 6.9% in the 4th quarter. Silvercrest Asset Management Group LLC now owns 834,251 shares of the company’s stock worth $55,186,000 after purchasing an additional 54,204 shares in the last quarter. 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.