Pictet Asset Management SA increased its position in shares of Centerspace (NYSE:CSR – Get Rating) by 13.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,292 shares of the company’s stock after purchasing an additional 734 shares during the period. Pictet Asset Management SA’s holdings in Centerspace were worth $513,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Exchange Traded Concepts LLC raised its position in shares of Centerspace by 3.1% during the 2nd quarter. Exchange Traded Concepts LLC now owns 14,789 shares of the company’s stock valued at $1,206,000 after purchasing an additional 438 shares during the period. Hightower 6M Holding LLC bought a new stake in shares of Centerspace during the 1st quarter valued at $440,000. State of Tennessee Treasury Department raised its position in shares of Centerspace by 17.2% during the 1st quarter. State of Tennessee Treasury Department now owns 9,220 shares of the company’s stock valued at $904,000 after purchasing an additional 1,352 shares during the period. Principal Financial Group Inc. raised its position in shares of Centerspace by 4.1% during the 1st quarter. Principal Financial Group Inc. now owns 99,094 shares of the company’s stock valued at $9,723,000 after purchasing an additional 3,931 shares during the period. Finally, Teacher Retirement System of Texas raised its position in shares of Centerspace by 10.1% during the 1st quarter. Teacher Retirement System of Texas now owns 2,982 shares of the company’s stock valued at $293,000 after purchasing an additional 274 shares during the period. 83.48% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
CSR has been the topic of several recent analyst reports. Raymond James downgraded shares of Centerspace from a “market perform” rating to an “underperform” rating in a research report on Wednesday. Compass Point cut shares of Centerspace from a “buy” rating to a “neutral” rating and cut their target price for the company from $100.00 to $75.00 in a research note on Wednesday, November 2nd. Royal Bank of Canada cut their target price on shares of Centerspace from $77.00 to $69.00 and set a “sector perform” rating for the company in a research note on Wednesday, November 2nd. Piper Sandler cut shares of Centerspace from an “overweight” rating to a “neutral” rating and cut their target price for the company from $85.00 to $70.00 in a research note on Tuesday, November 1st. Finally, Colliers International Group cut their target price on shares of Centerspace to $80.00 in a research note on Friday, November 4th. One analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $90.14.
Centerspace Stock Performance
Centerspace Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 11th. Shareholders of record on Friday, September 30th were paid a $0.73 dividend. The ex-dividend date of this dividend was Thursday, September 29th. This represents a $2.92 dividend on an annualized basis and a dividend yield of 4.53%. Centerspace’s payout ratio is currently -168.79%.
Centerspace is an owner and operator of apartment communities committed to providing great homes by focusing on integrity and serving others. Founded in 1970, as of June 30, 2021, Centerspace owned 62 apartment communities consisting of 11,579 apartment homes located in Colorado, Minnesota, Montana, Nebraska, North Dakota, and South Dakota.
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