BMO upgrades Centerspace to 'outperform' despite debt risks

BMO Capital Markets upgrades REIT Centerspace CSR.N to "outperform" from "market perform", PT remains unchanged at $77

Brokerage says the company has some risks such as having too much debt and being concentrated in a few markets, but it's still a relatively safe investment

Says co's main markets, Minneapolis and Denver, are expected to see slower growth in new apartments, which could help the company's rents and profits

CSR could benefit if there are mergers and acquisitions in the apartment industry - brokerage

Brokerage flags risks to CSR due to its high debt and difficulty making profitable purchases

Four out of 11 brokerages rate the stock "buy" or higher, 7 rate "hold" and their median PT is $73 as per LSEG data

Including session's moves, CSR stock down 8.4% YTD