Centerspace (NYSE:CSR) Shares Acquired by Rhumbline Advisers

Rhumbline Advisers grew its position in Centerspace (NYSE:CSR) by 4.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 53,301 shares of the company’s stock after acquiring an additional 2,480 shares during the quarter. Rhumbline Advisers owned about 0.32% of Centerspace worth $3,526,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. lifted its holdings in 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 in the last quarter. Loomis Sayles & Co. L P raised its position in shares of Centerspace by 3,131.6% in the third quarter. Loomis Sayles & Co. L P now owns 614 shares of the company’s stock valued at $43,000 after buying an additional 595 shares during the last quarter. KBC Group NV lifted its stake in shares of Centerspace by 75.9% in the fourth quarter. KBC Group NV now owns 1,080 shares of the company’s stock worth $71,000 after buying an additional 466 shares in the last quarter. Van ECK Associates Corp boosted its position in Centerspace by 15.2% during the third quarter. Van ECK Associates Corp now owns 2,626 shares of the company’s stock worth $186,000 after acquiring an additional 347 shares during the last quarter. Finally, Versor Investments LP acquired a new position in Centerspace during the third quarter worth about $204,000. 79.00% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Wedbush assumed coverage on shares of Centerspace in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $72.00 target price on the stock. Janney Montgomery Scott upgraded Centerspace from a “neutral” rating to a “buy” rating and set a $72.00 price objective on the stock in a research report on Wednesday, January 15th. Finally, Royal Bank of Canada boosted their price objective on Centerspace from $72.00 to $73.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $74.43.

Centerspace Trading Up 1.3 %

CSR opened at $66.30 on Friday. The stock has a market capitalization of $1.11 billion, a PE ratio of -52.21 and a beta of 0.90. Centerspace has a one year low of $54.50 and a one year high of $76.16. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.05 and a current ratio of 0.04. The business’s 50 day moving average price is $62.94 and its 200 day moving average price is $68.80.

Centerspace (NYSE:CSR) last announced its quarterly earnings results on Tuesday, February 18th. The company reported $1.21 EPS for the quarter, beating the consensus estimate of ($0.15) by $1.36. The business had revenue of $66.41 million for the quarter, compared to analyst estimates of $65.96 million. Centerspace had a negative return on equity of 1.34% and a negative net margin of 4.34%. As a group, equities research analysts expect that Centerspace will post 4.94 EPS for the current year.

Centerspace Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 8th. Shareholders of record on Friday, March 28th will be paid a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 4.65%. The ex-dividend date of this dividend is Friday, March 28th. This is a positive change from Centerspace’s previous quarterly dividend of $0.75. Centerspace’s dividend payout ratio (DPR) is -242.52%.

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.