Raymond James has lifted its rating for Centerspace (CSR, Financial) from Market Perform to Outperform, setting a target price of $66. This upgrade comes amidst a notable valuation gap between Centerspace and its multifamily sector counterparts, which has emerged due to recent market fluctuations.
The firm highlights that the stock has been disproportionately affected, even as there are growing indications of strengthening fundamentals across Centerspace's operational markets as of early April. Notably, increased apartment demand was observed in the first quarter, with several industry analysts recording near-record occupancy levels. Furthermore, there are signs that rental prices have stabilized in the company's core growth area of Denver, suggesting a positive trajectory going forward.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 11 analysts, the average target price for Centerspace (CSR, Financial) is $72.41 with a high estimate of $79.00 and a low estimate of $67.00. The average target implies an upside of 25.38% from the current price of $57.75. More detailed estimate data can be found on the Centerspace (CSR) Forecast page.
Based on the consensus recommendation from 12 brokerage firms, Centerspace's (CSR, Financial) average brokerage recommendation is currently 2.3, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Centerspace (CSR, Financial) in one year is $66.39, suggesting a upside of 14.96% from the current price of $57.75. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Centerspace (CSR) Summary page.
