Centerspace (NYSE:CSR) Shares Purchased by Russell Investments Group Ltd.

Russell Investments Group Ltd. grew its position in shares of Centerspace (NYSE:CSR) by 4.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,115 shares of the company’s stock after purchasing an additional 945 shares during the period. Russell Investments Group Ltd. owned approximately 0.13% of Centerspace worth $1,463,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Wells Fargo & Company MN boosted its position in Centerspace by 20.9% in the 4th quarter. Wells Fargo & Company MN now owns 12,774 shares of the company’s stock valued at $845,000 after buying an additional 2,206 shares during the last quarter. Resona Asset Management Co. Ltd. acquired a new stake in Centerspace during the 4th quarter valued at approximately $433,000. Geode Capital Management LLC increased its holdings in Centerspace by 7.3% during the 4th quarter. Geode Capital Management LLC now owns 415,680 shares of the company’s stock worth $27,503,000 after purchasing an additional 28,163 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its position in shares of Centerspace by 21.2% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 22,150 shares of the company’s stock valued at $1,465,000 after purchasing an additional 3,880 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Centerspace during the 4th quarter valued at approximately $4,768,000. 79.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CSR has been the topic of several recent analyst reports. BMO Capital Markets raised shares of Centerspace from a “market perform” rating to an “outperform” rating and set a $77.00 price target on the stock in a report on Friday, April 4th. UBS Group initiated coverage on Centerspace in a report on Monday, April 7th. They issued a “neutral” rating and a $67.00 price objective for the company. Wells Fargo & Company assumed coverage on Centerspace in a report on Wednesday, March 19th. They set an “equal weight” rating and a $68.00 target price on the stock. Janney Montgomery Scott raised Centerspace from a “neutral” rating to a “buy” rating and set a $72.00 price target on the stock in a research report on Wednesday, January 15th. Finally, Royal Bank of Canada raised 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. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $73.30.

Centerspace Stock Performance

CSR opened at $57.60 on Friday. Centerspace has a twelve month low of $54.13 and a twelve month high of $76.16. The stock has a market cap of $963.53 million, a PE ratio of -45.36 and a beta of 0.79. The business’s 50 day moving average is $62.39 and its 200-day moving average is $65.77. The company has a current ratio of 0.04, a quick ratio of 0.05 and a debt-to-equity ratio of 0.74.

Centerspace (NYSE:CSR) last announced its quarterly earnings results on Tuesday, February 18th. The company reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $1.36. The company had revenue of $66.41 million during 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%. On average, analysts predict that Centerspace will post 4.94 earnings per share for the current year.

Centerspace Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 8th. Stockholders of record on Friday, March 28th were issued a $0.77 dividend. The ex-dividend date of this dividend was Friday, March 28th. This is a boost from Centerspace’s previous quarterly dividend of $0.75. This represents a $3.08 annualized dividend and a dividend yield of 5.35%. 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.