Royal Bank of Canada Raises Centerspace (NYSE:CSR) Price Target to $72.00

Centerspace (NYSE:CSR) had its target price raised by Royal Bank of Canada from $71.00 to $72.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s target price indicates a potential upside of 18.28% from the company’s current price.

A number of other research analysts have also recently issued reports on CSR. Raymond James upgraded Centerspace from a “market perform” rating to an “outperform” rating and set a $66.00 target price on the stock in a research report on Monday, April 21st. BMO Capital Markets upgraded shares of Centerspace from a “market perform” rating to an “outperform” rating and set a $77.00 target price on the stock in a research report on Friday, April 4th. UBS Group began coverage on shares of Centerspace in a report on Monday, April 7th. They set a “neutral” rating and a $67.00 price target for the company. Janney Montgomery Scott raised Centerspace from a “neutral” rating to a “buy” rating and set a $72.00 price objective on the stock in a report on Wednesday, January 15th. Finally, Wells Fargo & Company initiated coverage on Centerspace in a report on Wednesday, March 19th. They issued an “equal weight” rating and a $68.00 target price for the company. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $72.00.

Centerspace Price Performance

CSR stock traded down $0.55 during mid-day trading on Monday, hitting $60.87. The stock had a trading volume of 15,002 shares, compared to its average volume of 110,733. The firm has a fifty day simple moving average of $61.73 and a 200 day simple moving average of $65.02. Centerspace has a 52 week low of $54.13 and a 52 week high of $76.16. The company has a current ratio of 0.04, a quick ratio of 0.05 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $1.02 billion, a P/E ratio of -47.92 and a beta of 0.77.

Centerspace (NYSE:CSR) last released its earnings results on Thursday, May 1st. The company reported $1.21 earnings per share for the quarter, hitting the consensus estimate of $1.21. Centerspace had a negative return on equity of 1.34% and a negative net margin of 4.34%. The firm had revenue of $67.09 million during the quarter, compared to analysts’ expectations of $66.70 million. As a group, research analysts forecast that Centerspace will post 4.94 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Barclays PLC lifted its stake in Centerspace by 1,553.4% in the third quarter. Barclays PLC now owns 102,859 shares of the company’s stock valued at $7,249,000 after buying an additional 96,638 shares during the period. Tidal Investments LLC acquired a new stake in Centerspace in the third quarter worth $339,000. Franklin Resources Inc. increased its stake in Centerspace by 11.1% in the third quarter. Franklin Resources Inc. now owns 9,957 shares of the company’s stock valued at $708,000 after purchasing an additional 992 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Centerspace by 25.6% during the third quarter. JPMorgan Chase & Co. now owns 193,242 shares of the company’s stock valued at $13,618,000 after purchasing an additional 39,380 shares during the period. Finally, KBC Group NV boosted its position in shares of Centerspace by 75.9% during the 4th quarter. KBC Group NV now owns 1,080 shares of the company’s stock worth $71,000 after purchasing an additional 466 shares in the last quarter. 79.00% of the stock is 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.