Centerspace (NYSE:CSR) Earns Neutral Rating from Analysts at Wedbush

Analysts at Wedbush assumed coverage on shares of Centerspace (NYSE:CSR) in a research note issued to investors on Tuesday, Marketbeat reports. The firm set a “neutral” rating and a $72.00 price target on the stock. Wedbush’s price target would suggest a potential upside of 9.57% from the stock’s previous close.

Several other analysts also recently commented on CSR. Raymond James downgraded shares of Centerspace from an “outperform” rating to a “market perform” rating in a report on Monday, October 21st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $76.00 target price on shares of Centerspace in a research report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Centerspace has an average rating of “Hold” and a consensus price target of $75.33.

Centerspace Price Performance

Shares of NYSE CSR opened at $65.71 on Tuesday. Centerspace has a twelve month low of $52.26 and a twelve month high of $76.16. The company has a market cap of $1.09 billion, a PE ratio of -40.81, a price-to-earnings-growth ratio of 2.05 and a beta of 0.89. The business’s 50 day moving average price is $71.08 and its two-hundred day moving average price is $70.96. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.70.

Centerspace (NYSE:CSR) last posted its quarterly earnings results on Monday, October 28th. The company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of $1.17 by ($1.57). Centerspace had a negative net margin of 5.57% and a negative return on equity of 1.72%. The business had revenue of $65.03 million during the quarter, compared to the consensus estimate of $66.35 million. During the same quarter last year, the company posted $1.20 EPS. On average, analysts predict that Centerspace will post 4.86 EPS for the current year.

Institutional Investors Weigh In On Centerspace

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. grew its position in Centerspace by 35.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 579 shares of the company’s stock worth $41,000 after buying an additional 150 shares in the last quarter. Asset Management One Co. Ltd. grew its holdings in shares of Centerspace by 0.7% during the 3rd quarter. Asset Management One Co. Ltd. now owns 23,116 shares of the company’s stock worth $1,629,000 after purchasing an additional 170 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Centerspace by 3.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,736 shares of the company’s stock worth $388,000 after purchasing an additional 171 shares in the last quarter. State of Alaska Department of Revenue increased its position in shares of Centerspace by 1.3% in the third quarter. State of Alaska Department of Revenue now owns 16,110 shares of the company’s stock worth $1,134,000 after purchasing an additional 208 shares during the period. Finally, MetLife Investment Management LLC raised its stake in Centerspace by 3.4% in the third quarter. MetLife Investment Management LLC now owns 9,091 shares of the company’s stock valued at $641,000 after purchasing an additional 303 shares in the last quarter. 79.00% of the stock is currently owned by institutional investors and hedge funds.

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.