Centerspace (NYSE:CSR) Shares Bought by Sei Investments Co.

Sei Investments Co. grew its position in Centerspace (NYSE:CSR) by 3.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 44,260 shares of the company’s stock after acquiring an additional 1,590 shares during the quarter. Sei Investments Co. owned about 0.27% of Centerspace worth $2,928,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Smartleaf Asset Management LLC raised its position in Centerspace by 370.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 381 shares of the company’s stock worth $25,000 after buying an additional 300 shares during the last quarter. KBC Group NV increased its stake in shares of Centerspace by 75.9% during the fourth quarter. KBC Group NV now owns 1,080 shares of the company’s stock worth $71,000 after acquiring an additional 466 shares during the period. Van ECK Associates Corp increased its stake in shares of Centerspace by 19.4% during the fourth quarter. Van ECK Associates Corp now owns 3,135 shares of the company’s stock worth $207,000 after acquiring an additional 509 shares during the period. Systematic Financial Management LP purchased a new position in Centerspace during the third quarter worth about $220,000. Finally, Captrust Financial Advisors acquired a new stake in Centerspace in the third quarter valued at about $234,000. 79.00% of the stock is currently owned by hedge funds and other institutional investors.

Centerspace Trading Down 3.8 %

NYSE CSR opened at $62.20 on Friday. The firm has a market capitalization of $1.04 billion, a PE ratio of -48.98 and a beta of 0.79. Centerspace has a one year low of $55.10 and a one year high of $76.16. The company has a 50-day simple moving average of $63.39 and a 200-day simple moving average of $67.14. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.05 and a current ratio of 0.04.

Centerspace (NYSE:CSR) last issued its quarterly earnings data on Tuesday, February 18th. The company reported $1.21 earnings per share for the quarter, beating the consensus estimate of ($0.15) by $1.36. Centerspace had a negative net margin of 4.34% and a negative return on equity of 1.34%. The firm had revenue of $66.41 million for the quarter, compared to the consensus estimate of $65.96 million. On average, equities analysts forecast that Centerspace will post 4.94 earnings per share for the current year.

Centerspace Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 8th. Shareholders of record on Friday, March 28th will be given a $0.77 dividend. This is a positive change from Centerspace’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Friday, March 28th. This represents a $3.08 annualized dividend and a yield of 4.95%. Centerspace’s payout ratio is -242.52%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CSR. Royal Bank of Canada increased their price target on shares of Centerspace from $72.00 to $73.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Wells Fargo & Company began coverage on Centerspace in a report on Wednesday, March 19th. They issued an “equal weight” rating and a $68.00 target price on the stock. Wedbush assumed coverage on shares of Centerspace in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $72.00 price objective on the stock. Finally, Janney Montgomery Scott raised shares of Centerspace from a “neutral” rating to a “buy” rating and set a $72.00 price objective on the stock in a research note on Wednesday, January 15th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Centerspace has an average rating of “Hold” and an average price target of $73.63.

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.