Centerspace (NYSE:CSR) Stock Rating Upgraded by Janney Montgomery Scott

Centerspace (NYSE:CSR) was upgraded by investment analysts at Janney Montgomery Scott from a “neutral” rating to a “buy” rating in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a $72.00 price target on the stock. Janney Montgomery Scott’s price objective points to a potential upside of 18.52% from the stock’s current price.

Several other equities analysts have also recently weighed in on the company. Wedbush assumed coverage on Centerspace in a report on Tuesday, December 17th. They set a “neutral” rating and a $72.00 price target for the company. Raymond James lowered shares of Centerspace from an “outperform” rating to a “market perform” rating in a report on Monday, October 21st. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $76.00 price objective on shares of Centerspace in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $74.86.

Centerspace Stock Down 0.1 %

CSR stock opened at $60.75 on Wednesday. Centerspace has a twelve month low of $52.26 and a twelve month high of $76.16. The business’s 50-day moving average price is $68.83 and its 200-day moving average price is $70.49. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.70. The stock has a market cap of $1.01 billion, a P/E ratio of -37.73, a PEG ratio of 2.04 and a beta of 0.91.

Centerspace (NYSE:CSR) last announced its quarterly earnings results on Monday, October 28th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate of $1.17 by ($1.57). The company had revenue of $65.03 million during the quarter, compared to analysts’ expectations of $66.35 million. Centerspace had a negative return on equity of 1.72% and a negative net margin of 5.57%. During the same quarter in the previous year, the firm earned $1.20 EPS. On average, equities research analysts forecast that Centerspace will post 4.86 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. grew its holdings in Centerspace by 25.6% in the third quarter. JPMorgan Chase & Co. now owns 193,242 shares of the company’s stock worth $13,618,000 after purchasing an additional 39,380 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Centerspace by 3.1% in the third quarter. Geode Capital Management LLC now owns 387,517 shares of the company’s stock worth $27,314,000 after buying an additional 11,749 shares during the last quarter. Captrust Financial Advisors purchased a new stake in Centerspace in the 3rd quarter worth approximately $234,000. Principal Financial Group Inc. grew its position in Centerspace by 3.6% during the third quarter. Principal Financial Group Inc. now owns 81,338 shares of the company’s stock valued at $5,732,000 after buying an additional 2,852 shares during the period. Finally, Intech Investment Management LLC purchased a new position in shares of Centerspace in the third quarter valued at approximately $403,000. 79.00% of the stock is owned by institutional investors.

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.