New York State Teachers Retirement System Lowers Holdings in Centerspace (NYSE:CSR)

New York State Teachers Retirement System decreased its holdings in Centerspace (NYSE:CSR) by 1.1% in the 4th quarter, HoldingsChannel reports. The firm owned 18,310 shares of the company’s stock after selling 200 shares during the quarter. New York State Teachers Retirement System’s holdings in Centerspace were worth $1,066,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. First Trust Advisors LP raised its holdings in Centerspace by 5.1% in the first quarter. First Trust Advisors LP now owns 3,030 shares of the company’s stock valued at $297,000 after acquiring an additional 146 shares in the last quarter. Vident Investment Advisory LLC raised its holdings in Centerspace by 0.9% in the first quarter. Vident Investment Advisory LLC now owns 16,947 shares of the company’s stock valued at $1,663,000 after acquiring an additional 146 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Centerspace by 1.0% in the second quarter. Price T Rowe Associates Inc. MD now owns 18,761 shares of the company’s stock valued at $1,530,000 after acquiring an additional 182 shares in the last quarter. Alps Advisors Inc. raised its holdings in Centerspace by 3.2% in the fourth quarter. Alps Advisors Inc. now owns 6,886 shares of the company’s stock valued at $404,000 after acquiring an additional 212 shares in the last quarter. Finally, Great West Life Assurance Co. Can raised its holdings in Centerspace by 0.8% in the first quarter. Great West Life Assurance Co. Can now owns 28,846 shares of the company’s stock valued at $1,577,000 after acquiring an additional 224 shares in the last quarter. Institutional investors and hedge funds own 79.00% of the company’s stock.

Wall Street Analyst Weigh In

CSR has been the topic of several analyst reports. Piper Sandler reaffirmed a “neutral” rating and issued a $63.00 target price on shares of Centerspace in a report on Tuesday, March 26th. Royal Bank of Canada reissued an “outperform” rating and set a $63.00 price objective on shares of Centerspace in a report on Friday, March 22nd. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $65.57.

Insider Activity at Centerspace

In other news, Director John A. Schissel acquired 500 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were purchased at an average cost of $56.40 per share, for a total transaction of $28,200.00. Following the transaction, the director now directly owns 9,522 shares in the company, valued at approximately $537,040.80. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.86% of the stock is currently owned by insiders.

Centerspace Stock Performance

Shares of CSR opened at $61.93 on Thursday. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.74. The firm has a market cap of $922.08 million, a PE ratio of 26.58, a price-to-earnings-growth ratio of 1.86 and a beta of 0.93. The company’s 50 day simple moving average is $56.74 and its 200-day simple moving average is $55.56. Centerspace has a 12-month low of $46.74 and a 12-month high of $66.99.

Centerspace Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 8th. Stockholders of record on Thursday, March 28th were given a dividend of $0.75 per share. The ex-dividend date was Wednesday, March 27th. This is a positive change from Centerspace’s previous quarterly dividend of $0.73. This represents a $3.00 dividend on an annualized basis and a dividend yield of 4.84%. Centerspace’s dividend payout ratio (DPR) is 128.76%.

Centerspace Company Profile

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.