Centerspace (NYSE:CSR) Raised to Buy at Janney Montgomery Scott

Centerspace (NYSE:CSR) was upgraded by stock analysts at Janney Montgomery Scott from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, Marketbeat.com reports. The brokerage presently has a $72.00 price target on the stock. Janney Montgomery Scott’s target price indicates a potential upside of 17.33% from the company’s previous close.

A number of other equities research analysts also recently weighed in on CSR. Raymond James downgraded shares of Centerspace from an “outperform” rating to a “market perform” rating in a research report on Monday, October 21st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $76.00 price objective on shares of Centerspace in a report on Wednesday, October 30th. Finally, Wedbush initiated coverage on Centerspace in a research report on Tuesday, December 17th. They set a “neutral” rating and a $72.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Centerspace has an average rating of “Hold” and an average price target of $74.86.

Centerspace Stock Performance

Shares of NYSE CSR opened at $61.37 on Wednesday. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.05 and a quick ratio of 0.05. The firm has a market cap of $1.02 billion, a price-to-earnings ratio of -38.12, a P/E/G ratio of 1.74 and a beta of 0.91. The stock’s fifty day moving average price is $68.65 and its two-hundred day moving average price is $70.43. Centerspace has a one year low of $52.26 and a one year high of $76.16.

Centerspace (NYSE:CSR) last released its quarterly earnings results on Monday, October 28th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate 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 analyst estimates of $66.35 million. During the same quarter last year, the company posted $1.20 earnings per share. On average, equities analysts forecast that Centerspace will post 4.85 EPS for the current year.

Hedge Funds Weigh In On Centerspace

Hedge funds and other institutional investors have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Centerspace by 35.0% during the 3rd 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 during the last quarter. Loomis Sayles & Co. L P lifted its holdings in shares of Centerspace by 3,131.6% in the third quarter. Loomis Sayles & Co. L P now owns 614 shares of the company’s stock worth $43,000 after acquiring an additional 595 shares during the last quarter. Van ECK Associates Corp lifted its holdings in shares of Centerspace by 15.2% in the third quarter. Van ECK Associates Corp now owns 2,626 shares of the company’s stock worth $186,000 after acquiring an additional 347 shares during the last quarter. Versor Investments LP acquired a new stake in shares of Centerspace in the 3rd quarter valued at approximately $204,000. Finally, abrdn plc bought a new stake in shares of Centerspace during the 3rd quarter valued at approximately $210,000. 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.