Wells Fargo & Company Initiates Coverage on Centerspace (NYSE:CSR)

Equities research analysts at Wells Fargo & Company started coverage on shares of Centerspace (NYSE:CSR) in a research note issued on Wednesday. The brokerage set an “equal weight” rating and a $68.00 price target on the stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 6.53% from the company’s current price.

Other analysts have also recently issued reports about the company. Royal Bank of Canada boosted their price target on Centerspace from $72.00 to $73.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. Janney Montgomery Scott upgraded Centerspace from a “neutral” rating to a “buy” rating and set a $72.00 price target on the stock in a report on Wednesday, January 15th. Finally, Wedbush began coverage on Centerspace in a report on Tuesday, December 17th. They set a “neutral” rating and a $72.00 price target on the stock. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $73.63.

Centerspace Stock Down 0.5 %

CSR stock opened at $63.83 on Wednesday. The company has a market cap of $1.07 billion, a PE ratio of -50.26 and a beta of 0.91. The business has a 50-day simple moving average of $62.69 and a 200 day simple moving average of $67.91. Centerspace has a 52 week low of $54.50 and a 52 week high of $76.16. The company has a quick ratio of 0.05, a current ratio of 0.04 and a debt-to-equity ratio of 0.74.

Centerspace (NYSE:CSR) last issued its earnings results on Tuesday, February 18th. The company reported $1.21 EPS for the quarter, topping the consensus estimate of ($0.15) by $1.36. The firm had revenue of $66.41 million during the quarter, compared to the consensus estimate of $65.96 million. Centerspace had a negative return on equity of 1.34% and a negative net margin of 4.34%. Sell-side analysts anticipate that Centerspace will post 4.94 EPS for the current fiscal year.

Institutional Trading of Centerspace

Several institutional investors have recently added to or reduced their stakes in CSR. Summit Investment Advisors Inc. boosted its holdings in shares of Centerspace by 15.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 1,732 shares of the company’s stock worth $115,000 after buying an additional 229 shares in the last quarter. California State Teachers Retirement System raised its position 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 last quarter. Yousif Capital Management LLC raised its position in 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 during the last quarter. Oregon Public Employees Retirement Fund raised its position in Centerspace by 8.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,861 shares of the company’s stock valued at $255,000 after buying an additional 300 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its position in Centerspace by 370.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 381 shares of the company’s stock valued at $25,000 after buying an additional 300 shares during the last quarter. 79.00% of the stock is currently 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.