Centerspace (NYSE:CSR) Upgraded to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Centerspace (NYSE:CSR – Get Rating) from a hold rating to a buy rating in a research report report published on Monday, Zacks.com reports. Zacks Investment Research currently has $94.00 price objective on the stock.
According to Zacks, “Centerspace is a real estate development company. It is focused on the ownership, management, acquisitions, redevelopment and development of apartment communities. Centerspace, formerly known as IRET, is based in MINNEAPOLIS. “
Separately, Royal Bank of Canada initiated coverage on Centerspace in a report on Friday, March 11th. They set a sector perform rating and a $105.00 price target for the company. Four analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Buy and an average target price of $107.00.
Shares of NYSE:CSR opened at $84.33 on Monday. The firm has a market cap of $1.30 billion, a P/E ratio of -136.02, a P/E/G ratio of 2.75 and a beta of 0.96. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.61. Centerspace has a 12-month low of $70.23 and a 12-month high of $112.27. The business has a fifty day simple moving average of $92.30 and a 200 day simple moving average of $97.61.
Centerspace (NYSE:CSR – Get Rating) last announced its earnings results on Monday, May 2nd. The company reported ($0.68) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.06 by ($1.74). Centerspace had a negative return on equity of 0.45% and a negative net margin of 1.74%. During the same period in the prior year, the business earned $0.95 EPS. As a group, equities research analysts expect that Centerspace will post 4.38 EPS for the current year.
In other news, Director Rodney Jones-Tyson acquired 595 shares of the stock in a transaction dated Monday, May 16th. The stock was purchased at an average cost of $84.82 per share, with a total value of $50,467.90. Following the completion of the purchase, the director now owns 595 shares in the company, valued at approximately $50,467.90. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.86% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Wellington Management Group LLP grew its holdings in shares of Centerspace by 27.8% during the first quarter. Wellington Management Group LLP now owns 1,180,660 shares of the company’s stock valued at $115,846,000 after buying an additional 257,030 shares during the last quarter. State Street Corp boosted its holdings in Centerspace by 15.6% in the first quarter. State Street Corp now owns 887,776 shares of the company’s stock worth $87,742,000 after purchasing an additional 119,848 shares during the last quarter. BlackRock Inc. boosted its holdings in Centerspace by 2.2% in the first quarter. BlackRock Inc. now owns 2,736,058 shares of the company’s stock worth $268,463,000 after purchasing an additional 58,404 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Centerspace by 1.6% in the first quarter. Vanguard Group Inc. now owns 2,306,306 shares of the company’s stock worth $226,294,000 after purchasing an additional 37,063 shares during the last quarter. Finally, Yousif Capital Management LLC purchased a new stake in Centerspace in the fourth quarter worth approximately $1,438,000. Institutional investors and hedge funds own 80.68% of the company’s stock.
Centerspace Company Profile (Get Rating)
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 June 30, 2021, Centerspace owned 62 apartment communities consisting of 11,579 apartment homes located in Colorado, Minnesota, Montana, Nebraska, North Dakota, and South Dakota.
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