Centerspace (NYSE:CSR) Given New $67.00 Price Target at Royal Bank Of Canada

Centerspace (NYSE:CSR) had its target price reduced by equities research analysts at Royal Bank Of Canada from $71.00 to $67.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price target would suggest a potential upside of 12.63% from the company’s previous close.

A number of other equities research analysts have also issued reports on the company. UBS Group increased their price target on Centerspace from $66.00 to $70.00 and gave the company a “neutral” rating in a research report on Thursday, May 14th. Piper Sandler upgraded shares of Centerspace from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $69.00 to $72.00 in a research note on Tuesday, April 7th. Wall Street Zen raised shares of Centerspace from a “strong sell” rating to a “sell” rating in a report on Sunday, May 17th. Wells Fargo & Company lifted their price target on shares of Centerspace from $69.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Monday. Finally, Weiss Ratings upgraded shares of Centerspace from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, May 6th. Two analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $68.80.

Centerspace Stock Down 0.9%

Shares of Centerspace stock traded down $0.51 during trading hours on Friday, reaching $59.49. 7,501 shares of the company were exchanged, compared to its average volume of 124,130. Centerspace has a 1 year low of $52.76 and a 1 year high of $69.61. The stock’s fifty day moving average is $64.40 and its 200 day moving average is $64.31. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.03 and a current ratio of 0.03. The firm has a market cap of $999.54 million, a PE ratio of 132.38 and a beta of 0.88.

Centerspace (NYSE:CSR) last released its earnings results on Monday, May 4th. The company reported ($0.77) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.48). Centerspace had a net margin of 2.93% and a return on equity of 0.94%. The company had revenue of $65.07 million during the quarter, compared to analysts’ expectations of $66.54 million. Centerspace has set its FY 2026 guidance at 4.810-5.050 EPS. As a group, equities research analysts forecast that Centerspace will post 4.9 earnings per share for the current year.

Hedge Funds Weigh In On Centerspace

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Doliver Advisors LP boosted its position in shares of Centerspace by 3.0% during the 4th quarter. Doliver Advisors LP now owns 5,930 shares of the company’s stock worth $396,000 after purchasing an additional 170 shares in the last quarter. Avalon Trust Co grew its stake in shares of Centerspace by 36.3% during the 1st quarter. Avalon Trust Co now owns 709 shares of the company’s stock worth $41,000 after purchasing an additional 189 shares during the period. Captrust Financial Advisors increased its holdings in shares of Centerspace by 4.9% in the 4th quarter. Captrust Financial Advisors now owns 4,348 shares of the company’s stock valued at $290,000 after purchasing an additional 202 shares in the last quarter. State of Alaska Department of Revenue lifted its stake in shares of Centerspace by 1.2% in the fourth quarter. State of Alaska Department of Revenue now owns 17,657 shares of the company’s stock valued at $1,176,000 after purchasing an additional 212 shares during the period. Finally, Engineers Gate Manager LP lifted its stake in shares of Centerspace by 6.4% in the fourth quarter. Engineers Gate Manager LP now owns 4,091 shares of the company’s stock valued at $273,000 after purchasing an additional 246 shares during the period. 79.00% of the stock is owned by institutional investors and hedge funds.

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. Centerspace was named a Top Workplace for the fourth consecutive year in 2023 by the Minneapolis Star Tribune.