RBC Capital analyst Brad Heffern raised the firm’s price target on Centerspace to $73 from $72 and keeps an Outperform rating on the shares. The company’s Q2 results were slightly better than expected, but the main surprise came in the form of equity issuance to delever the balance sheet after the repurchase activity seen in Q4-Q1, the analyst tells investors in a research note. Centerspace is seeing more opportunities in the transaction market, but the pricing is likely still too far from the company’s cost of capital, RBC added.
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