Centerspace (NYSE:CSR – Get Free Report)‘s stock had its “neutral” rating restated by Cantor Fitzgerald in a report released on Thursday, Benzinga reports. They presently have a $57.00 target price on the stock. Cantor Fitzgerald’s price target would suggest a potential downside of 0.61% from the company’s current price.
A number of other research analysts also recently commented on CSR. Royal Bank Of Canada reduced their price target on Centerspace from $67.00 to $64.00 and set an “outperform” rating for the company in a report on Wednesday, August 5th. UBS Group upped their price objective on Centerspace from $66.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. Weiss Ratings downgraded shares of Centerspace from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, August 19th. Wall Street Zen raised shares of Centerspace from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Zacks Research downgraded Centerspace from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 18th. Two analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $64.33.
View Our Latest Analysis on Centerspace
Centerspace Price Performance
Centerspace (NYSE:CSR – Get Free Report) last announced its quarterly earnings results on Monday, August 3rd. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.06. Centerspace had a net margin of 7.97% and a return on equity of 2.58%. The firm had revenue of $65.78 million during the quarter, compared to analysts’ expectations of $66.29 million. Centerspace has set its FY 2026 guidance at 4.580-4.680 EPS. As a group, research analysts anticipate that Centerspace will post 4.67 earnings per share for the current year.
Insider Buying and Selling at Centerspace
In other news, Director Rodney Jones-Tyson purchased 1,700 shares of the stock in a transaction dated Monday, June 22nd. The stock was acquired at an average price of $55.26 per share, for a total transaction of $93,942.00. Following the completion of the transaction, the director owned 7,877 shares of the company’s stock, valued at approximately $435,283.02. The trade was a 27.52% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John Schissel acquired 500 shares of the company’s stock in a transaction that occurred on Thursday, June 18th. The stock was purchased at an average cost of $54.90 per share, for a total transaction of $27,450.00. Following the acquisition, the director owned 17,195 shares in the company, valued at approximately $944,005.50. This trade represents a 2.99% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 0.49% of the company’s stock.
Institutional Investors Weigh In On Centerspace
A number of hedge funds have recently made changes to their positions in the business. Avalon Trust Co grew its holdings in Centerspace by 36.3% in the 1st quarter. Avalon Trust Co now owns 709 shares of the company’s stock worth $41,000 after buying an additional 189 shares in the last quarter. Captrust Financial Advisors grew its stake in shares of Centerspace by 4.9% in the fourth quarter. Captrust Financial Advisors now owns 4,348 shares of the company’s stock worth $290,000 after purchasing an additional 202 shares in the last quarter. Engineers Gate Manager LP increased its holdings in shares of Centerspace by 6.4% during the fourth quarter. Engineers Gate Manager LP now owns 4,091 shares of the company’s stock valued at $273,000 after purchasing an additional 246 shares during the period. State of Tennessee Department of Treasury increased its holdings in shares of Centerspace by 3.7% during the second quarter. State of Tennessee Department of Treasury now owns 6,877 shares of the company’s stock valued at $414,000 after purchasing an additional 247 shares during the period. Finally, Sound Income Strategies LLC raised its stake in shares of Centerspace by 67.4% during the first quarter. Sound Income Strategies LLC now owns 626 shares of the company’s stock valued at $36,000 after purchasing an additional 252 shares in the last quarter. Institutional investors own 79.00% of the company’s stock.
More Centerspace News
Here are the key news stories impacting Centerspace this week:
- Positive Sentiment: Independence Realty and Centerspace said the combination is expected to generate merger synergies and accretive growth, supporting the investment case for the enlarged company. BTIG reaffirmed a Buy rating on IRT with a $21 price target, citing the potential benefits of the transaction. BTIG reaffirms Buy rating on Independence Realty
- Positive Sentiment: The merger gives Centerspace shareholders exposure to a substantially larger REIT and the potential operating advantages of scale, while the announced exchange ratio establishes a clearer valuation reference for CSR holders. Independence Realty Trust and Centerspace agree to merger
- Neutral Sentiment: Under the proposed terms, Centerspace investors would receive 3.800 shares of IRT for each CSR share and own roughly 22% of the combined company. The all-stock structure means the ultimate value received will fluctuate with IRT’s share price until the transaction closes. Centerspace merger exchange-ratio details
- Negative Sentiment: Several shareholder law firms announced investigations into whether the merger fairly values Centerspace, whether directors protected shareholder interests, and whether insiders could receive benefits. These announcements add deal-execution and litigation uncertainty, although they do not by themselves indicate that the transaction will be blocked. Shareholder investigation of Centerspace
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.
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