Centerspace (NYSE:CSR) Now Covered by UBS Group

Investment analysts at UBS Group initiated coverage on shares of Centerspace (NYSE:CSR) in a report released on Monday,Briefing.com Automated Import reports. The brokerage set a “neutral” rating and a $67.00 price target on the stock. UBS Group’s price objective points to a potential upside of 11.84% from the stock’s current price.

A number of other brokerages have also issued reports on CSR. Janney Montgomery Scott raised shares of Centerspace from a “neutral” rating to a “buy” rating and set a $72.00 target price for the company in a research note on Wednesday, January 15th. Wedbush began coverage on Centerspace in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $72.00 target price on the stock. BMO Capital Markets raised Centerspace from a “market perform” rating to an “outperform” rating and set a $77.00 price target for the company in a research note on Friday. Wells Fargo & Company started coverage on Centerspace in a research note on Wednesday, March 19th. They issued an “equal weight” rating and a $68.00 price target for the company. Finally, Royal Bank of Canada raised their price objective on shares of Centerspace from $72.00 to $73.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $73.30.

Centerspace Trading Down 0.5 %

NYSE CSR traded down $0.31 on Monday, hitting $59.91. 7,324 shares of the stock were exchanged, compared to its average volume of 85,889. The company’s 50-day moving average price is $63.37 and its two-hundred day moving average price is $66.95. The company has a market capitalization of $1.00 billion, a price-to-earnings ratio of -47.17 and a beta of 0.79. Centerspace has a 52-week low of $56.06 and a 52-week high of $76.16. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.04 and a quick ratio of 0.05.

Centerspace (NYSE:CSR) last posted 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. Centerspace had a negative return on equity of 1.34% and a negative net margin of 4.34%. The firm had revenue of $66.41 million for the quarter, compared to analyst estimates of $65.96 million. Research analysts predict that Centerspace will post 4.94 EPS for the current year.

Hedge Funds Weigh In On Centerspace

Several large investors have recently added to or reduced their stakes in CSR. Summit Investment Advisors Inc. increased its position in shares of Centerspace by 15.2% during the fourth quarter. Summit Investment Advisors Inc. now owns 1,732 shares of the company’s stock valued at $115,000 after purchasing an additional 229 shares during the period. California State Teachers Retirement System increased its holdings in Centerspace by 1.9% in the 4th quarter. California State Teachers Retirement System now owns 14,401 shares of the company’s stock valued at $953,000 after buying an additional 268 shares during the period. Yousif Capital Management LLC raised its stake in shares of Centerspace by 4.6% in the 4th quarter. Yousif Capital Management LLC now owns 6,226 shares of the company’s stock valued at $412,000 after buying an additional 276 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in shares of Centerspace by 8.4% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,861 shares of the company’s stock worth $255,000 after acquiring an additional 300 shares during the period. Finally, Smartleaf Asset Management LLC boosted its position in shares of Centerspace by 370.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 381 shares of the company’s stock valued at $25,000 after acquiring an additional 300 shares in the last quarter. Institutional investors and hedge funds 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.