Raymond James Upgrades Centerspace (NYSE:CSR) to Strong-Buy

Centerspace (NYSE:CSR) was upgraded by research analysts at Raymond James from an “outperform” rating to a “strong-buy” rating in a research note issued on Thursday,Finviz reports. The brokerage presently has a $69.00 target price on the stock. Raymond James’ target price suggests a potential upside of 17.21% from the stock’s previous close.

Other equities analysts also recently issued reports about the company. Janney Montgomery Scott upgraded Centerspace from a “neutral” rating to a “buy” rating and set a $72.00 price objective for the company in a research report on Wednesday, January 15th. BMO Capital Markets upgraded Centerspace from a “market perform” rating to an “outperform” rating and set a $77.00 price objective for the company in a research report on Friday, April 4th. Piper Sandler reduced their price objective on Centerspace from $75.00 to $68.00 and set a “neutral” rating for the company in a research report on Monday, May 5th. Royal Bank of Canada increased their target price on Centerspace from $71.00 to $72.00 and gave the stock an “outperform” rating in a research note on Monday, May 5th. Finally, UBS Group started coverage on shares of Centerspace in a research note on Monday, April 7th. They issued a “neutral” rating and a $67.00 price target on the stock. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Centerspace presently has a consensus rating of “Moderate Buy” and a consensus target price of $71.56.

Centerspace Stock Performance

Shares of CSR opened at $58.87 on Thursday. The stock has a 50-day moving average of $60.98 and a two-hundred day moving average of $64.55. The stock has a market cap of $985.19 million, a P/E ratio of -46.35 and a beta of 0.77. Centerspace has a one year low of $54.13 and a one year high of $76.16. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.05 and a current ratio of 0.04.

Centerspace (NYSE:CSR) last posted its earnings results on Thursday, May 1st. The company reported $1.21 earnings per share for the quarter, meeting the consensus estimate of $1.21. The firm had revenue of $67.09 million during the quarter, compared to the consensus estimate of $66.70 million. Centerspace had a negative net margin of 4.34% and a negative return on equity of 1.34%. As a group, research analysts predict that Centerspace will post 4.94 EPS for the current year.

Institutional Investors Weigh In On Centerspace

Several hedge funds have recently made changes to their positions in CSR. Smartleaf Asset Management LLC grew its holdings in Centerspace by 370.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 381 shares of the company’s stock worth $25,000 after acquiring an additional 300 shares during the last quarter. Sterling Capital Management LLC raised its stake in Centerspace by 903.8% during the fourth quarter. Sterling Capital Management LLC now owns 522 shares of the company’s stock worth $35,000 after acquiring an additional 470 shares in the last quarter. KBC Group NV lifted its holdings in Centerspace by 75.9% during the 4th quarter. KBC Group NV now owns 1,080 shares of the company’s stock worth $71,000 after buying an additional 466 shares during the period. New Age Alpha Advisors LLC acquired a new position in shares of Centerspace during the first quarter valued at about $86,000. Finally, Summit Investment Advisors Inc. grew its holdings in shares of Centerspace by 15.2% during the fourth quarter. Summit Investment Advisors Inc. now owns 1,732 shares of the company’s stock valued at $115,000 after buying an additional 229 shares during the last quarter. Hedge funds and other institutional investors own 79.00% of the company’s stock.

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.