Centerspace (NYSE:CSR) Rating Lowered to “Strong Sell” at Zacks Research

Centerspace (NYSE:CSR) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Tuesday,Zacks.com reports.

CSR has been the subject of a number of other research reports. Weiss Ratings raised shares of Centerspace from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 4th. BTIG Research lowered shares of Centerspace from a “buy” rating to a “neutral” rating in a report on Tuesday, June 16th. Piper Sandler cut their target price on Centerspace from $64.00 to $60.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 21st. Wall Street Zen raised Centerspace from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Finally, UBS Group raised their price objective on Centerspace from $66.00 to $70.00 and gave the stock a “neutral” rating in a research note on Thursday, May 14th. One analyst has rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Centerspace currently has an average rating of “Hold” and an average price target of $63.80.

Centerspace Price Performance

Shares of CSR stock opened at $54.21 on Tuesday. Centerspace has a fifty-two week low of $53.33 and a fifty-two week high of $69.61. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.03 and a current ratio of 0.03. The firm has a market capitalization of $910.19 million, a price-to-earnings ratio of 43.02 and a beta of 0.88. The stock’s 50-day simple moving average is $55.92 and its 200-day simple moving average is $60.71.

Centerspace (NYSE:CSR) last announced its quarterly earnings data on Monday, August 3rd. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.06. The firm had revenue of $65.78 million during the quarter, compared to analyst estimates of $66.29 million. Centerspace had a net margin of 7.97% and a return on equity of 2.58%. Centerspace has set its FY 2026 guidance at 4.580-4.680 EPS. As a group, equities analysts forecast that Centerspace will post 4.67 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Rodney Jones-Tyson acquired 1,700 shares of the stock in a transaction on Monday, June 22nd. The shares were acquired at an average price of $55.26 per share, for a total transaction of $93,942.00. Following the transaction, the director owned 7,877 shares in the company, valued at approximately $435,283.02. This trade represents a 27.52% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John A. Schissel acquired 500 shares of the company’s stock in a transaction dated Thursday, June 18th. The shares were purchased at an average cost of $54.90 per share, for a total transaction of $27,450.00. Following the purchase, the director directly owned 17,195 shares in the company, valued at approximately $944,005.50. This trade represents a 2.99% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 0.49% of the company’s stock.

Institutional Investors Weigh In On Centerspace

Several hedge funds have recently modified their holdings of CSR. Covestor Ltd increased its stake in shares of Centerspace by 57,100.0% in the 4th quarter. Covestor Ltd now owns 572 shares of the company’s stock valued at $38,000 after purchasing an additional 571 shares in the last quarter. Sound Income Strategies LLC raised its stake in shares of Centerspace by 67.4% during the 1st quarter. Sound Income Strategies LLC now owns 626 shares of the company’s stock worth $36,000 after buying an additional 252 shares during the period. Danske Bank A S purchased a new position in shares of Centerspace during the 4th quarter valued at approximately $47,000. Avalon Trust Co grew its stake in Centerspace by 36.3% in the 1st quarter. Avalon Trust Co now owns 709 shares of the company’s stock valued at $41,000 after acquiring an additional 189 shares during the period. Finally, Kestra Advisory Services LLC acquired a new stake in Centerspace in the 4th quarter valued at $58,000. 79.00% of the stock is owned by hedge funds and other 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. Centerspace was named a Top Workplace for the fourth consecutive year in 2023 by the Minneapolis Star Tribune.