UBS Group Initiates Coverage on Centerspace (NYSE:CSR)

Analysts at UBS Group assumed coverage on shares of Centerspace (NYSE:CSR) in a research note issued to investors on Monday,Briefing.com Automated Import reports. The brokerage set a “neutral” rating and a $67.00 price target on the stock. UBS Group’s price target indicates a potential upside of 11.84% from the stock’s previous close.

A number of other equities research analysts have also commented on CSR. Royal Bank of Canada increased their price target on Centerspace from $72.00 to $73.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Janney Montgomery Scott upgraded Centerspace from a “neutral” rating to a “buy” rating and set a $72.00 target price on the stock in a report on Wednesday, January 15th. BMO Capital Markets raised Centerspace from a “market perform” rating to an “outperform” rating and set a $77.00 price target for the company in a report on Friday. Wedbush initiated coverage on shares of Centerspace in a report on Tuesday, December 17th. They set a “neutral” rating and a $72.00 price objective on the stock. Finally, Wells Fargo & Company initiated coverage on shares of Centerspace in a research report on Wednesday, March 19th. They issued an “equal weight” rating and a $68.00 price objective for the company. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Centerspace presently has a consensus rating of “Hold” and a consensus price target of $73.30.

Centerspace Price Performance

Centerspace stock traded down $0.31 during mid-day trading on Monday, hitting $59.91. 7,324 shares of the company were exchanged, compared to its average volume of 85,889. The company has a market capitalization of $1.00 billion, a PE ratio of -47.17 and a beta of 0.79. The business has a fifty day moving average of $63.37 and a 200 day moving average of $66.95. Centerspace has a 1-year low of $56.06 and a 1-year 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 announced its earnings results on Tuesday, February 18th. The company reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $1.36. The business had revenue of $66.41 million during the quarter, compared to analysts’ expectations of $65.96 million. Centerspace had a negative net margin of 4.34% and a negative return on equity of 1.34%. As a group, sell-side analysts expect that Centerspace will post 4.94 earnings per share for the current year.

Hedge Funds Weigh In On Centerspace

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Centerspace by 8.2% during the 4th quarter. Vanguard Group Inc. now owns 2,594,366 shares of the company’s stock worth $171,617,000 after acquiring an additional 195,629 shares during the period. Barclays PLC grew its stake in shares of Centerspace by 1,553.4% during the third quarter. Barclays PLC now owns 102,859 shares of the company’s stock worth $7,249,000 after purchasing an additional 96,638 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Centerspace by 295.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 107,820 shares of the company’s stock valued at $7,598,000 after purchasing an additional 80,566 shares during the last quarter. Norges Bank acquired a new position in Centerspace in the fourth quarter valued at about $4,768,000. Finally, Wellington Management Group LLP boosted its holdings in Centerspace by 6.4% during the third quarter. Wellington Management Group LLP now owns 1,019,353 shares of the company’s stock worth $71,834,000 after buying an additional 61,394 shares during the last quarter. 79.00% of the stock is currently 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.