Royal Bank of Canada Raises Centerspace (NYSE:CSR) Price Target to $73.00

Centerspace (NYSE:CSR) had its price target upped by investment analysts at Royal Bank of Canada from $72.00 to $73.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s target price suggests a potential upside of 14.04% from the stock’s current price.

A number of other research firms also recently weighed in on CSR. Janney Montgomery Scott raised shares of Centerspace from a “neutral” rating to a “buy” rating and set a $72.00 price target for the company in a research note on Wednesday, January 15th. Wedbush started coverage on Centerspace in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $72.00 price target on the stock. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Centerspace currently has a consensus rating of “Hold” and a consensus price target of $74.43.

Centerspace Stock Performance

NYSE:CSR traded up $0.22 during mid-day trading on Thursday, hitting $64.01. 7,245 shares of the company’s stock traded hands, compared to its average volume of 84,787. The firm has a 50 day moving average of $63.30 and a two-hundred day moving average of $69.08. Centerspace has a 12 month low of $54.22 and a 12 month high of $76.16. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of -50.40 and a beta of 0.90. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.70.

Centerspace (NYSE:CSR) last issued 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. Centerspace had a negative return on equity of 1.36% and a negative net margin of 4.34%. The business had revenue of $66.41 million during the quarter, compared to analysts’ expectations of $65.96 million. On average, equities analysts forecast that Centerspace will post 4.94 earnings per share for the current fiscal year.

Institutional Trading of Centerspace

Several hedge funds have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Centerspace by 35.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 579 shares of the company’s stock worth $41,000 after acquiring an additional 150 shares during the period. State of Alaska Department of Revenue increased its stake in Centerspace by 1.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 16,110 shares of the company’s stock valued at $1,134,000 after buying an additional 208 shares during the last quarter. abrdn plc bought a new stake in Centerspace during the 3rd quarter worth about $210,000. Van ECK Associates Corp lifted its position in Centerspace by 15.2% during the 3rd quarter. Van ECK Associates Corp now owns 2,626 shares of the company’s stock worth $186,000 after buying an additional 347 shares in the last quarter. Finally, Asset Management One Co. Ltd. lifted its position in Centerspace by 0.7% during the 3rd quarter. Asset Management One Co. Ltd. now owns 23,116 shares of the company’s stock worth $1,629,000 after buying an additional 170 shares in 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.