Nisa Investment Advisors LLC Cuts Position in Centerspace (NYSE:CSR)

Nisa Investment Advisors LLC lowered its stake in shares of Centerspace (NYSE:CSR) by 25.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,906 shares of the company’s stock after selling 1,699 shares during the period. Nisa Investment Advisors LLC’s holdings in Centerspace were worth $286,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Lazard Asset Management LLC acquired a new stake in shares of Centerspace during the 4th quarter valued at approximately $27,000. Captrust Financial Advisors purchased a new position in Centerspace in the 2nd quarter valued at approximately $46,000. Tower Research Capital LLC TRC raised its holdings in Centerspace by 82.7% during the third quarter. Tower Research Capital LLC TRC now owns 740 shares of the company’s stock worth $45,000 after purchasing an additional 335 shares during the last quarter. Russell Investments Group Ltd. purchased a new stake in Centerspace during the first quarter worth $66,000. Finally, FMR LLC grew its holdings in Centerspace by 20.5% in the first quarter. FMR LLC now owns 1,382 shares of the company’s stock valued at $75,000 after purchasing an additional 235 shares during the last quarter. 79.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Insider Transactions at Centerspace

In other news, Director John A. Schissel acquired 500 shares of Centerspace stock in a transaction that occurred on Monday, March 11th. The shares were acquired at an average price of $56.40 per share, with a total value of $28,200.00. Following the completion of the purchase, the director now owns 9,522 shares of the company’s stock, valued at approximately $537,040.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.86% of the company’s stock.

Centerspace Stock Up 1.0 %

CSR opened at $62.57 on Friday. The business’s fifty day simple moving average is $56.92 and its 200 day simple moving average is $55.61. Centerspace has a 52 week low of $46.74 and a 52 week high of $66.99. The firm has a market cap of $931.67 million, a P/E ratio of 26.85, a PEG ratio of 1.87 and a beta of 0.93. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.74.

Centerspace Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 8th. Shareholders of record on Thursday, March 28th were paid a dividend of $0.75 per share. This is a boost from Centerspace’s previous quarterly dividend of $0.73. This represents a $3.00 annualized dividend and a dividend yield of 4.79%. The ex-dividend date of this dividend was Wednesday, March 27th. Centerspace’s dividend payout ratio (DPR) is currently 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.