Texas Permanent School Fund Corp Trims Position in Centerspace (NYSE:CSR)

Texas Permanent School Fund Corp trimmed its holdings in Centerspace (NYSE:CSR) by 2.6% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 13,166 shares of the company’s stock after selling 348 shares during the period. Texas Permanent School Fund Corp owned 0.09% of Centerspace worth $808,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in CSR. Lazard Asset Management LLC purchased a new position in Centerspace during the fourth quarter worth about $27,000. HighMark Wealth Management LLC raised its holdings in Centerspace by 316.3% during the second quarter. HighMark Wealth Management LLC now owns 637 shares of the company’s stock worth $39,000 after purchasing an additional 484 shares in the last quarter. Captrust Financial Advisors purchased a new position in Centerspace during the second quarter worth about $46,000. Russell Investments Group Ltd. purchased a new position in Centerspace during the first quarter worth about $66,000. Finally, FMR LLC raised its holdings in Centerspace by 20.5% during the first quarter. FMR LLC now owns 1,382 shares of the company’s stock worth $75,000 after purchasing an additional 235 shares in the last quarter. 78.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CSR has been the subject of several analyst reports. Robert W. Baird cut their price target on shares of Centerspace from $69.00 to $65.00 in a report on Tuesday, October 10th. BMO Capital Markets dropped their target price on shares of Centerspace from $72.00 to $64.00 and set a “market perform” rating for the company in a report on Monday, October 9th. Royal Bank of Canada dropped their target price on shares of Centerspace from $60.00 to $58.00 and set a “sector perform” rating for the company in a report on Wednesday, November 1st. Compass Point raised shares of Centerspace from a “neutral” rating to a “buy” rating and set a $65.00 target price for the company in a report on Monday, November 6th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $69.00 target price on shares of Centerspace in a report on Monday, September 25th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Centerspace presently has a consensus rating of “Hold” and a consensus price target of $64.00.

Centerspace Stock Up 1.3 %

CSR stock opened at $53.81 on Tuesday. The company’s 50 day simple moving average is $55.67 and its 200-day simple moving average is $59.65. The firm has a market capitalization of $810.00 million, a PE ratio of 19.64, a P/E/G ratio of 1.65 and a beta of 0.95. Centerspace has a 12 month low of $46.74 and a 12 month high of $71.97. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.14 and a quick ratio of 0.14.

Centerspace Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 10th. Stockholders of record on Friday, September 29th were given a $0.73 dividend. The ex-dividend date was Thursday, September 28th. This represents a $2.92 annualized dividend and a dividend yield of 5.43%. Centerspace’s dividend payout ratio is presently 106.57%.

About Centerspace

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 September 30, 2023, Centerspace owned interests in 71 apartment communities consisting of 12,785 apartment homes located in Colorado, Minnesota, Montana, Nebraska, North Dakota, and South Dakota.