Centerspace (NYSE:CSR) Upgraded by Wall Street Zen to “Sell” Rating

Centerspace (NYSE:CSR) was upgraded by stock analysts at Wall Street Zen from a “strong sell” rating to a “sell” rating in a research note issued on Sunday.

A number of other analysts have also commented on the company. Piper Sandler upgraded Centerspace from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $69.00 to $72.00 in a report on Tuesday, April 7th. Royal Bank Of Canada lifted their price target on Centerspace from $70.00 to $71.00 and gave the stock an “outperform” rating in a report on Wednesday, May 6th. Weiss Ratings upgraded Centerspace from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, May 6th. UBS Group lifted their price target on Centerspace from $66.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, Wells Fargo & Company dropped their price target on Centerspace from $74.00 to $69.00 and set an “equal weight” rating on the stock in a report on Thursday, March 5th. Two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $69.40.

Centerspace Stock Down 1.3%

Shares of NYSE:CSR opened at $67.02 on Friday. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of 148.94 and a beta of 0.89. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.88. Centerspace has a 12-month low of $52.76 and a 12-month high of $69.61. The business’s 50 day moving average is $62.97 and its 200 day moving average is $63.86.

Centerspace (NYSE:CSR) last announced its earnings results on Monday, May 4th. The company reported ($0.77) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by ($0.48). The company had revenue of $65.07 million for the quarter, compared to analysts’ expectations of $66.54 million. Centerspace had a net margin of 2.93% and a return on equity of 0.94%. Centerspace has set its FY 2026 guidance at 4.810-5.050 EPS. On average, sell-side analysts forecast that Centerspace will post 4.85 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Centerspace

Hedge funds and other institutional investors have recently modified their holdings of the company. Sound Income Strategies LLC boosted its holdings in Centerspace by 67.4% during the 1st quarter. Sound Income Strategies LLC now owns 626 shares of the company’s stock valued at $36,000 after acquiring an additional 252 shares during the period. Covestor Ltd boosted its holdings in Centerspace by 57,100.0% during the 4th quarter. Covestor Ltd now owns 572 shares of the company’s stock valued at $38,000 after acquiring an additional 571 shares during the period. Hantz Financial Services Inc. boosted its holdings in Centerspace by 998.3% during the 3rd quarter. Hantz Financial Services Inc. now owns 659 shares of the company’s stock valued at $39,000 after acquiring an additional 599 shares during the period. Avalon Trust Co boosted its holdings in Centerspace by 36.3% during the 1st quarter. Avalon Trust Co now owns 709 shares of the company’s stock valued at $41,000 after acquiring an additional 189 shares during the period. Finally, Danske Bank A S purchased a new stake in Centerspace during the 4th quarter valued at about $47,000. 79.00% of the stock is currently 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. Centerspace was named a Top Workplace for the fourth consecutive year in 2023 by the Minneapolis Star Tribune.