Raymond James Financial Reaffirms “Market Perform” Rating for Centerspace (NYSE:CSR)

Centerspace (NYSE:CSR)‘s stock had its “market perform” rating reiterated by equities researchers at Raymond James Financial in a note issued to investors on Wednesday,Benzinga reports.

Other equities analysts also recently issued research reports about the stock. UBS Group raised their price target on shares of Centerspace from $60.00 to $63.00 and gave the company a “neutral” rating in a research note on Monday. Wall Street Zen upgraded Centerspace from a “sell” rating to a “hold” rating in a report on Saturday. Wells Fargo & Company lowered their target price on Centerspace from $68.00 to $60.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 27th. Cantor Fitzgerald began coverage on Centerspace in a research report on Wednesday, October 1st. They issued a “neutral” rating and a $62.00 price target on the stock. Finally, Piper Sandler decreased their price target on Centerspace from $68.00 to $66.00 and set a “neutral” rating for the company in a research note on Monday. Three research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $68.11.

Centerspace Stock Performance

Shares of CSR stock opened at $65.99 on Wednesday. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of -36.66 and a beta of 0.75. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.97. The business’s 50-day moving average price is $59.24 and its 200-day moving average price is $59.66. Centerspace has a 12 month low of $52.76 and a 12 month high of $75.92.

Centerspace (NYSE:CSR) last released its quarterly earnings data on Monday, November 3rd. The company reported $1.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.22 by ($0.03). The firm had revenue of $71.40 million during the quarter, compared to analyst estimates of $69.07 million. Centerspace had a negative net margin of 9.13% and a negative return on equity of 2.81%. Centerspace has set its FY 2025 guidance at 4.880-4.960 EPS. Equities research analysts forecast that Centerspace will post 4.94 EPS for the current year.

Institutional Trading of Centerspace

A number of large investors have recently bought and sold shares of CSR. Vanguard Group Inc. raised its position in shares of Centerspace by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 2,603,360 shares of the company’s stock worth $168,568,000 after acquiring an additional 8,994 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Centerspace by 0.9% during the 2nd quarter. Geode Capital Management LLC now owns 435,025 shares of the company’s stock valued at $26,185,000 after purchasing an additional 4,090 shares in the last quarter. Pacific Heights Asset Management LLC grew its stake in Centerspace by 12.5% during the third quarter. Pacific Heights Asset Management LLC now owns 225,000 shares of the company’s stock worth $13,252,000 after purchasing an additional 25,000 shares during the period. JPMorgan Chase & Co. grew its stake in Centerspace by 10.5% during the third quarter. JPMorgan Chase & Co. now owns 224,583 shares of the company’s stock worth $13,228,000 after purchasing an additional 21,337 shares during the period. Finally, Nuveen LLC bought a new stake in Centerspace in the first quarter worth approximately $13,147,000. 79.00% of the stock is currently owned by institutional investors and hedge funds.

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.