Centerspace (NYSE:CSR) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

Centerspace (NYSE:CSR) had its target price lifted by Royal Bank of Canada from $72.00 to $73.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s target price would suggest a potential upside of 13.88% from the stock’s current price.

Several other research firms have also recently weighed in on CSR. Janney Montgomery Scott upgraded shares of Centerspace from a “neutral” rating to a “buy” rating and set a $72.00 price target on the stock in a report on Wednesday, January 15th. Wedbush initiated coverage on shares of Centerspace in a report on Tuesday, December 17th. They set a “neutral” rating and a $72.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Centerspace has an average rating of “Hold” and an average price target of $74.43.

Centerspace Stock Performance

NYSE:CSR opened at $64.10 on Thursday. The stock has a market cap of $1.07 billion, a P/E ratio of -50.47 and a beta of 0.90. The firm’s fifty day simple moving average is $63.10 and its 200 day simple moving average is $69.02. Centerspace has a twelve month low of $54.50 and a twelve month high of $76.16. The company has a quick ratio of 0.05, a current ratio of 0.04 and a debt-to-equity ratio of 0.74.

Centerspace (NYSE:CSR) last released its quarterly earnings results on Tuesday, February 18th. The company reported $1.21 earnings per share for the quarter, beating the consensus estimate of ($0.15) by $1.36. The business had revenue of $66.41 million for the quarter, compared to analysts’ expectations of $65.96 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.

Hedge Funds Weigh In On Centerspace

A number of hedge funds have recently bought and sold shares of the company. Public Employees Retirement System of Ohio boosted its stake in Centerspace by 7.3% in the 4th quarter. Public Employees Retirement System of Ohio now owns 23,691 shares of the company’s stock worth $1,567,000 after purchasing an additional 1,621 shares in the last quarter. Westwood Holdings Group Inc. boosted its stake in Centerspace by 13.4% in the 4th quarter. Westwood Holdings Group Inc. now owns 113,104 shares of the company’s stock worth $7,482,000 after purchasing an additional 13,386 shares in the last quarter. Two Sigma Advisers LP boosted its stake in Centerspace by 286.3% in the 4th quarter. Two Sigma Advisers LP now owns 19,700 shares of the company’s stock worth $1,303,000 after purchasing an additional 14,600 shares in the last quarter. Two Sigma Investments LP boosted its stake in Centerspace by 34.9% in the 4th quarter. Two Sigma Investments LP now owns 41,022 shares of the company’s stock worth $2,714,000 after purchasing an additional 10,616 shares in the last quarter. Finally, Silvercrest Asset Management Group LLC boosted its stake in Centerspace by 6.9% in the 4th quarter. Silvercrest Asset Management Group LLC now owns 834,251 shares of the company’s stock worth $55,186,000 after purchasing an additional 54,204 shares in the last quarter. 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.