Centerspace up after Raymond James upgrades to 'outperform', citing improving rent growth

Raymond James Financial

21/04/2025 18:09

** Brokerage Raymond James upgrades residential REIT Centerspace CSR.N to "outperform" from "market perform"

** Shares of CSR rise 1.4% to $58.58

** Brokerage has a $66 PT on the stock

** Says CSR's key markets, such as Denver and Minneapolis, are showing signs of strengthening with rent growth stabilizing and improving year over year

** Brokerage notes that the company's overall new lease growth has accelerated, while occupancy remains high at 95.3%

** "CSR is attractively valued at current levels with a peer leading dividend and unique portfolio benefiting from strengthening rent growth across the Midwest and in
various secondary markets, with limited new supply risk in the near term"- Brokerage

** Including session's moves, CSR stock down 11.4% YTD

 (Reporting by Padmanabhan Ananthan)

 ((Padmanabhan.Ananthan@thomsonreuters.com))