Maryland State Retirement & Pension System Sells 307 Shares of Centerspace (NYSE:CSR)

Maryland State Retirement & Pension System lessened its holdings in shares of Centerspace (NYSE:CSR) by 5.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,199 shares of the company’s stock after selling 307 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Centerspace were worth $352,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of CSR. Texas Permanent School Fund Corp grew its holdings in shares of Centerspace by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 13,174 shares of the company’s stock valued at $753,000 after buying an additional 176 shares during the last quarter. Daiwa Securities Group Inc. boosted its stake in Centerspace by 4.9% during the 1st quarter. Daiwa Securities Group Inc. now owns 4,764 shares of the company’s stock valued at $272,000 after purchasing an additional 222 shares during the last quarter. New York State Common Retirement Fund increased its holdings in Centerspace by 1.6% during the 4th quarter. New York State Common Retirement Fund now owns 20,679 shares of the company’s stock worth $1,204,000 after purchasing an additional 329 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of Centerspace by 19.7% in the fourth quarter. Van ECK Associates Corp now owns 2,118 shares of the company’s stock worth $123,000 after purchasing an additional 348 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Centerspace by 2.6% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 17,401 shares of the company’s stock valued at $1,177,000 after purchasing an additional 446 shares in the last quarter. Institutional investors own 79.00% of the company’s stock.

Centerspace Price Performance

Shares of NYSE:CSR opened at $75.33 on Wednesday. The company has a market capitalization of $1.15 billion, a P/E ratio of -94.16, a price-to-earnings-growth ratio of 2.21 and a beta of 0.88. The company’s 50-day moving average is $71.00 and its 200 day moving average is $65.64. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.04 and a current ratio of 0.04. Centerspace has a fifty-two week low of $46.74 and a fifty-two week high of $75.57.

Centerspace (NYSE:CSR) last released its earnings results on Monday, July 29th. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of $1.20 by ($1.39). Centerspace had a negative net margin of 2.16% and a negative return on equity of 0.67%. The company had revenue of $65.04 million during the quarter, compared to analysts’ expectations of $65.90 million. During the same quarter in the previous year, the firm earned $1.28 earnings per share. On average, equities research analysts forecast that Centerspace will post 4.83 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CSR shares. Raymond James upped their price target on Centerspace from $75.00 to $82.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. BTIG Research upped their target price on shares of Centerspace from $69.00 to $79.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Piper Sandler increased their target price on shares of Centerspace from $64.00 to $75.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Finally, Royal Bank of Canada boosted their price target on shares of Centerspace from $72.00 to $73.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $72.29.

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.