Centerspace (NYSE:CSR) Price Target Increased to $79.00 by Analysts at BTIG Research

Centerspace (NYSE:CSR) had its target price raised by investment analysts at BTIG Research from $69.00 to $79.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has a “buy” rating on the stock. BTIG Research’s target price would indicate a potential upside of 10.34% from the stock’s previous close.

Other equities research analysts also recently issued reports about the stock. Raymond James upgraded shares of Centerspace from a “market perform” rating to an “outperform” rating and set a $75.00 price objective for the company in a research note on Friday, May 24th. Piper Sandler upped their price target on shares of Centerspace from $64.00 to $75.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Compass Point lowered Centerspace from a “buy” rating to a “neutral” rating and raised their price objective for the company from $65.00 to $68.00 in a research report on Friday, May 3rd. Finally, Royal Bank of Canada upped their target price on Centerspace from $72.00 to $73.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Centerspace has a consensus rating of “Moderate Buy” and a consensus target price of $71.29.

Centerspace Trading Up 0.7 %

CSR stock traded up $0.50 on Monday, hitting $71.60. 270,991 shares of the company were exchanged, compared to its average volume of 92,940. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.04 and a quick ratio of 0.04. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of -89.24, a price-to-earnings-growth ratio of 2.09 and a beta of 0.88. Centerspace has a twelve month low of $46.74 and a twelve month high of $72.37. The business’s fifty day moving average is $68.83 and its two-hundred day moving average is $63.32.

Centerspace (NYSE:CSR) last issued its earnings results on Monday, July 29th. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of $1.20 by ($1.39). Centerspace had a negative net margin of 2.16% and a negative return on equity of 0.67%. The firm had revenue of $65.04 million during the quarter, compared to analyst estimates of $65.90 million. During the same quarter in the previous year, the business posted $1.28 EPS. As a group, research analysts forecast that Centerspace will post 4.82 earnings per share for the current year.

Institutional Trading of Centerspace

Hedge funds and other institutional investors have recently bought and sold shares of the company. Rothschild Investment LLC acquired a new stake in shares of Centerspace during the second quarter worth $42,000. ICA Group Wealth Management LLC bought a new position in shares of Centerspace during the fourth quarter valued at approximately $55,000. Van ECK Associates Corp grew its holdings in shares of Centerspace by 19.7% during the fourth quarter. Van ECK Associates Corp now owns 2,118 shares of the company’s stock valued at $123,000 after purchasing an additional 348 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of Centerspace in the 1st quarter worth approximately $173,000. Finally, Victory Capital Management Inc. bought a new stake in shares of Centerspace in the 2nd quarter worth approximately $209,000. 79.00% of the stock is owned by institutional investors.

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.