Mirae Asset Global Investments Co. Ltd. Acquires 563 Shares of Centerspace (NYSE:CSR)

Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Centerspace (NYSE:CSR) by 4.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,616 shares of the company’s stock after purchasing an additional 563 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Centerspace were worth $734,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. DekaBank Deutsche Girozentrale raised its holdings in shares of Centerspace by 18.8% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 3,709 shares of the company’s stock valued at $224,000 after purchasing an additional 587 shares in the last quarter. Capital Square LLC raised its holdings in shares of Centerspace by 11.2% during the 3rd quarter. Capital Square LLC now owns 6,482 shares of the company’s stock valued at $357,000 after purchasing an additional 651 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Centerspace by 4.6% during the 3rd quarter. Nisa Investment Advisors LLC now owns 6,605 shares of the company’s stock valued at $398,000 after purchasing an additional 290 shares in the last quarter. Ziegler Capital Management LLC raised its holdings in shares of Centerspace by 6.1% during the 4th quarter. Ziegler Capital Management LLC now owns 9,242 shares of the company’s stock valued at $538,000 after purchasing an additional 535 shares in the last quarter. Finally, Illinois Municipal Retirement Fund bought a new position in Centerspace in the 3rd quarter worth $540,000. Institutional investors own 79.00% of the company’s stock.

Centerspace Stock Performance

NYSE CSR opened at $64.87 on Thursday. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.03 and a quick ratio of 0.03. The firm has a market capitalization of $965.91 million, a price-to-earnings ratio of 27.84, a P/E/G ratio of 1.98 and a beta of 0.93. The company’s fifty day moving average is $57.82 and its two-hundred day moving average is $55.79. Centerspace has a 52-week low of $46.74 and a 52-week high of $66.99.

Centerspace Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 8th. Shareholders of record on Thursday, March 28th were given a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 4.62%. This is a positive change from Centerspace’s previous quarterly dividend of $0.73. The ex-dividend date was Wednesday, March 27th. Centerspace’s dividend payout ratio (DPR) is currently 128.76%.

Insiders Place Their Bets

In related news, Director John A. Schissel purchased 500 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were bought 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 of the company’s stock, valued at approximately $537,040.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.96% of the company’s stock.

Analyst Ratings Changes

CSR has been the topic of several recent analyst reports. Piper Sandler reiterated 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 reiterated an “outperform” rating and issued a $63.00 target price on shares of Centerspace in a report on Friday, March 22nd. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $65.57.

Centerspace 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.