Centerspace (NYSE:CSR) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lessened its position in shares of Centerspace (NYSE:CSR) by 6.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,893 shares of the company’s stock after selling 342 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Centerspace were worth $285,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. increased its stake in Centerspace by 3.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 247,845 shares of the company’s stock worth $14,935,000 after acquiring an additional 9,179 shares during the last quarter. Invesco Ltd. increased its position in shares of Centerspace by 1.7% during the 3rd quarter. Invesco Ltd. now owns 104,712 shares of the company’s stock worth $6,310,000 after purchasing an additional 1,789 shares during the last quarter. Swiss National Bank raised its holdings in Centerspace by 1.2% in the 3rd quarter. Swiss National Bank now owns 32,900 shares of the company’s stock valued at $1,983,000 after buying an additional 400 shares during the period. Asset Management One Co. Ltd. raised its holdings in Centerspace by 1.3% in the 4th quarter. Asset Management One Co. Ltd. now owns 23,023 shares of the company’s stock valued at $1,366,000 after buying an additional 301 shares during the period. Finally, Public Employees Retirement System of Ohio boosted its stake in Centerspace by 7.9% during the third quarter. Public Employees Retirement System of Ohio now owns 21,667 shares of the company’s stock worth $1,306,000 after buying an additional 1,581 shares during the period. 79.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CSR has been the topic of a number of research analyst reports. Royal Bank of Canada boosted their price target on shares of Centerspace from $66.00 to $68.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. Piper Sandler reissued a “neutral” rating and issued a $63.00 target price on shares of Centerspace in a research report on Tuesday, March 26th. Finally, Compass Point lowered Centerspace from a “buy” rating to a “neutral” rating and raised their price target for the stock from $65.00 to $68.00 in a research report on Friday. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $66.17.

Centerspace Price Performance

Centerspace stock opened at $68.71 on Monday. The company has a quick ratio of 0.03, a current ratio of 0.04 and a debt-to-equity ratio of 0.77. Centerspace has a 52-week low of $46.74 and a 52-week high of $69.97. The firm has a market cap of $1.02 billion, a PE ratio of -85.89, a price-to-earnings-growth ratio of 2.07 and a beta of 0.87. The company’s 50 day moving average is $59.26 and its two-hundred day moving average is $56.25.

Centerspace (NYSE:CSR) last announced its quarterly earnings data on Monday, April 29th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.12 by ($1.49). Centerspace had a negative net margin of 2.38% and a negative return on equity of 0.73%. The company had revenue of $64.51 million during the quarter, compared to analyst estimates of $65.30 million. During the same quarter in the previous year, the business posted $1.07 earnings per share. On average, research analysts expect that Centerspace will post 4.75 EPS for the current fiscal year.

Centerspace Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 8th. Stockholders of record on Thursday, March 28th were paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 4.37%. The ex-dividend date of this dividend was Wednesday, March 27th. This is a boost from Centerspace’s previous quarterly dividend of $0.73. Centerspace’s dividend payout ratio (DPR) is presently -375.00%.

Insider Transactions at Centerspace

In other news, Director John A. Schissel bought 500 shares of Centerspace stock in a transaction that occurred on Monday, March 11th. The shares were purchased at an average price of $56.40 per share, with a total value of $28,200.00. Following the completion of the acquisition, the director now directly owns 9,522 shares in the company, valued at $537,040.80. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.92% of the company’s stock.

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.