Centerspace (NYSE:CSR) Reaches New 12-Month High – Here’s What Happened

Shares of Centerspace (NYSE:CSR) reached a new 52-week high during trading on Tuesday . The stock traded as high as $71.00 and last traded at $67.5020, with a volume of 488 shares changing hands. The stock had previously closed at $67.59.

Wall Street Analysts Forecast Growth

CSR has been the topic of several research reports. Piper Sandler upgraded shares of Centerspace from a “neutral” rating to an “overweight” rating and increased their price target for the company from $69.00 to $72.00 in a research report on Tuesday, April 7th. Weiss Ratings raised shares of Centerspace from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, May 6th. Royal Bank Of Canada upped their price objective on shares of Centerspace from $70.00 to $71.00 and gave the company an “outperform” rating in a research note on Wednesday, May 6th. UBS Group upped their price objective on shares of Centerspace from $66.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. Finally, Wall Street Zen raised shares of Centerspace from a “strong sell” rating to a “sell” rating in a research note on Sunday. Two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $69.40.

Centerspace Stock Up 0.3%

The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.88. The firm has a market cap of $1.12 billion, a PE ratio of 148.68 and a beta of 0.89. The firm’s 50 day moving average is $63.22 and its 200-day moving average is $64.05.

Centerspace (NYSE:CSR) last announced its quarterly earnings data on Monday, May 4th. The company reported ($0.77) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by ($0.48). The firm had revenue of $65.07 million for the quarter, compared to analysts’ expectations of $66.54 million. Centerspace had a net margin of 2.93% and a return on equity of 0.94%. Centerspace has set its FY 2026 guidance at 4.810-5.050 EPS. As a group, equities research analysts expect that Centerspace will post 4.85 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Centerspace

A number of large investors have recently bought and sold shares of CSR. Sound Income Strategies LLC raised its stake in Centerspace by 67.4% during the first quarter. Sound Income Strategies LLC now owns 626 shares of the company’s stock worth $36,000 after purchasing an additional 252 shares during the period. Covestor Ltd raised its stake in Centerspace by 57,100.0% during the fourth quarter. Covestor Ltd now owns 572 shares of the company’s stock worth $38,000 after purchasing an additional 571 shares during the period. Hantz Financial Services Inc. raised its stake in Centerspace by 998.3% during the third quarter. Hantz Financial Services Inc. now owns 659 shares of the company’s stock worth $39,000 after purchasing an additional 599 shares during the period. Avalon Trust Co raised its stake in Centerspace by 36.3% during the first quarter. Avalon Trust Co now owns 709 shares of the company’s stock worth $41,000 after purchasing an additional 189 shares during the period. Finally, Danske Bank A S purchased a new position in Centerspace during the fourth quarter worth approximately $47,000. Hedge funds and other institutional investors own 79.00% of the company’s stock.

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. Centerspace was named a Top Workplace for the fourth consecutive year in 2023 by the Minneapolis Star Tribune.