Piper Sandler analyst Alexander Goldfarb raised the firm’s price target on Centerspace (CSR) to $69 from $66 and keeps a Neutral rating on the shares. The strategic alternative process impact on Centerspace is seen with new redevelopments and stock buybacks on pause, while the company assesses new markets to enter, which would be funded via recycling, the firm notes. Existing projects continue, but Piper understands the team is hesitant to launch new ones that may disrupt the NOI stream as Centerspace contemplates its strategic options.
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