BTIG downgraded Centerspace to Neutral from Buy without a price target after the company concluded its strategic review. The outcome of the strategic review "raises more questions than it answers in the near term," the analyst tells investors in a research note. The firm says Centerspace announced dispositions totaling $240M-$245M, with proceeds going to debt reductions. It expects dilution through 2027 for Centerspace, and says the lack of a larger transaction likely raises questions for investors about the valuation of the portfolio in today's environment.
