Centerspace (NYSE:CSR) Cut to Strong Sell at Zacks Research

Centerspace (NYSE:CSR) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Tuesday,Zacks.com reports.

A number of other equities analysts have also weighed in on CSR. Piper Sandler cut their price objective on shares of Centerspace from $64.00 to $60.00 and set a “neutral” rating for the company in a research report on Tuesday, July 21st. Wall Street Zen upgraded shares of Centerspace from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Royal Bank Of Canada decreased their target price on shares of Centerspace from $67.00 to $64.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 5th. UBS Group lifted their target price on shares of Centerspace from $66.00 to $70.00 and gave the stock a “neutral” rating in a research note on Thursday, May 14th. Finally, Wells Fargo & Company cut their price target on Centerspace from $70.00 to $60.00 and set an “equal weight” rating for the company in a report on Wednesday, July 22nd. One investment analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $63.80.

Centerspace Trading Up 1.7%

Centerspace stock opened at $54.21 on Tuesday. The stock has a 50-day moving average price of $55.92 and a 200 day moving average price of $60.71. Centerspace has a 52 week low of $53.33 and a 52 week high of $69.61. The stock has a market cap of $910.19 million, a PE ratio of 43.02 and a beta of 0.88. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.87.

Centerspace (NYSE:CSR) last released its earnings results on Monday, August 3rd. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.06. Centerspace had a net margin of 7.97% and a return on equity of 2.58%. The company had revenue of $65.78 million for the quarter, compared to analyst estimates of $66.29 million. Centerspace has set its FY 2026 guidance at 4.580-4.680 EPS. Equities research analysts predict that Centerspace will post 4.67 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Rodney Jones-Tyson bought 1,700 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The shares were acquired at an average cost of $55.26 per share, with a total value of $93,942.00. Following the completion of the transaction, the director owned 7,877 shares of the company’s stock, valued at approximately $435,283.02. The trade was a 27.52% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John A. Schissel bought 500 shares of the stock in a transaction that occurred on Thursday, June 18th. The stock was bought at an average price of $54.90 per share, with a total value of $27,450.00. Following the completion of the acquisition, the director owned 17,195 shares of the company’s stock, valued at $944,005.50. This trade represents a 2.99% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 0.49% of the company’s stock.

Hedge Funds Weigh In On Centerspace

Hedge funds have recently made changes to their positions in the stock. 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 valued at $41,000 after buying an additional 189 shares during the period. Captrust Financial Advisors raised its position in shares of Centerspace by 4.9% in the 4th quarter. Captrust Financial Advisors now owns 4,348 shares of the company’s stock worth $290,000 after buying an additional 202 shares during the period. Engineers Gate Manager LP raised its position in shares of Centerspace by 6.4% in the 4th quarter. Engineers Gate Manager LP now owns 4,091 shares of the company’s stock worth $273,000 after buying an additional 246 shares during the period. State of Tennessee Department of Treasury boosted its holdings in Centerspace by 3.7% in the second quarter. State of Tennessee Department of Treasury now owns 6,877 shares of the company’s stock valued at $414,000 after acquiring an additional 247 shares during the last quarter. Finally, Sound Income Strategies LLC boosted its holdings in Centerspace by 67.4% in the first quarter. Sound Income Strategies LLC now owns 626 shares of the company’s stock valued at $36,000 after acquiring an additional 252 shares during 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. Centerspace was named a Top Workplace for the fourth consecutive year in 2023 by the Minneapolis Star Tribune.