Franklin Resources Inc. Boosts Holdings in Centerspace (NYSE:CSR)

Franklin Resources Inc. raised its stake in shares of Centerspace (NYSE:CSR) by 11.1% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 9,957 shares of the company’s stock after buying an additional 992 shares during the period. Franklin Resources Inc. owned about 0.06% of Centerspace worth $708,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Centerspace by 35.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 579 shares of the company’s stock valued at $41,000 after purchasing an additional 150 shares during the period. Asset Management One Co. Ltd. raised its position in shares of Centerspace by 0.7% in the third quarter. Asset Management One Co. Ltd. now owns 23,116 shares of the company’s stock worth $1,629,000 after acquiring an additional 170 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of Centerspace by 3.1% in the second quarter. The Manufacturers Life Insurance Company now owns 5,736 shares of the company’s stock worth $388,000 after acquiring an additional 171 shares during the period. State of Alaska Department of Revenue boosted its stake in shares of Centerspace by 1.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 16,110 shares of the company’s stock worth $1,134,000 after acquiring an additional 208 shares in the last quarter. Finally, MetLife Investment Management LLC grew its position in shares of Centerspace by 3.4% during the 3rd quarter. MetLife Investment Management LLC now owns 9,091 shares of the company’s stock valued at $641,000 after acquiring an additional 303 shares during the period. Institutional investors and hedge funds own 79.00% of the company’s stock.

Centerspace Stock Performance

Shares of NYSE:CSR opened at $65.88 on Monday. The business’s 50 day moving average price is $70.43 and its 200-day moving average price is $70.85. Centerspace has a 1 year low of $52.26 and a 1 year high of $76.16. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.05 and a quick ratio of 0.05. The firm has a market capitalization of $1.09 billion, a PE ratio of -40.92, a P/E/G ratio of 2.04 and a beta of 0.89.

Centerspace (NYSE:CSR) last released its earnings results on Monday, October 28th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.17 by ($1.57). The business had revenue of $65.03 million for the quarter, compared to analysts’ expectations of $66.35 million. Centerspace had a negative return on equity of 1.72% and a negative net margin of 5.57%. During the same period in the previous year, the company earned $1.20 EPS. As a group, equities research analysts expect that Centerspace will post 4.86 earnings per share for the current fiscal year.

Centerspace Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Monday, December 30th will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 4.55%. The ex-dividend date of this dividend is Monday, December 30th. Centerspace’s dividend payout ratio (DPR) is presently -186.34%.

Analyst Ratings Changes

A number of equities analysts have issued reports on CSR shares. Royal Bank of Canada reiterated an “outperform” rating and set a $76.00 price target on shares of Centerspace in a research report on Wednesday, October 30th. Wedbush assumed coverage on Centerspace in a research report on Tuesday, December 17th. They set a “neutral” rating and a $72.00 target price on the stock. Finally, Raymond James lowered shares of Centerspace from an “outperform” rating to a “market perform” rating in a report on Monday, October 21st. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Centerspace presently has a consensus rating of “Hold” and a consensus price target of $75.33.

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.