Centerspace (NYSE:CSR) Coverage Initiated at Wells Fargo & Company

Investment analysts at Wells Fargo & Company started coverage on shares of Centerspace (NYSE:CSR) in a research note issued on Wednesday, Marketbeat reports. The firm set an “equal weight” rating and a $68.00 price target on the stock. Wells Fargo & Company‘s price objective points to a potential upside of 5.88% from the company’s previous close.

Several other equities analysts have also issued reports on CSR. Royal Bank of Canada boosted their price target on shares of Centerspace from $72.00 to $73.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Wedbush initiated coverage on Centerspace in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $72.00 target price for the company. Finally, Janney Montgomery Scott upgraded Centerspace from a “neutral” rating to a “buy” rating and set a $72.00 price target for the company in a report on Wednesday, January 15th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Centerspace presently has an average rating of “Hold” and a consensus price target of $73.63.

Centerspace Price Performance

Shares of CSR opened at $64.23 on Wednesday. The stock has a market cap of $1.07 billion, a P/E ratio of -50.57 and a beta of 0.91. Centerspace has a 1 year low of $54.90 and a 1 year high of $76.16. The stock’s 50-day moving average price is $62.80 and its two-hundred day moving average price is $67.86. The company has a current ratio of 0.04, a quick ratio of 0.05 and a debt-to-equity ratio of 0.74.

Centerspace (NYSE:CSR) last released its quarterly earnings data on Tuesday, February 18th. The company reported $1.21 earnings per share for the quarter, topping the consensus estimate of ($0.15) by $1.36. The business had revenue of $66.41 million for the quarter, compared to analyst estimates of $65.96 million. Centerspace had a negative net margin of 4.34% and a negative return on equity of 1.34%. On average, equities analysts predict that Centerspace will post 4.94 earnings per share for the current year.

Institutional Investors Weigh In On Centerspace

Several institutional investors have recently bought and sold shares of CSR. Vanguard Group Inc. lifted its position in shares of Centerspace by 8.2% in the fourth quarter. Vanguard Group Inc. now owns 2,594,366 shares of the company’s stock worth $171,617,000 after purchasing an additional 195,629 shares in the last quarter. Barclays PLC increased its stake in Centerspace by 1,553.4% in the 3rd quarter. Barclays PLC now owns 102,859 shares of the company’s stock valued at $7,249,000 after buying an additional 96,638 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Centerspace by 295.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 107,820 shares of the company’s stock valued at $7,598,000 after buying an additional 80,566 shares during the last quarter. Norges Bank bought a new stake in Centerspace during the 4th quarter worth about $4,768,000. Finally, Wellington Management Group LLP boosted its stake in shares of Centerspace by 6.4% during the 3rd quarter. Wellington Management Group LLP now owns 1,019,353 shares of the company’s stock worth $71,834,000 after buying an additional 61,394 shares during the last quarter. Institutional investors own 79.00% of the company’s stock.

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.