Sumitomo Mitsui Trust Group Inc. Sells 294 Shares of Centerspace (NYSE:CSR)

Sumitomo Mitsui Trust Group Inc. trimmed its position in Centerspace (NYSE:CSR) by 1.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,384 shares of the company’s stock after selling 294 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.11% of Centerspace worth $1,190,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in CSR. Vanguard Group Inc. grew its stake in shares of Centerspace by 8.2% in the fourth quarter. Vanguard Group Inc. now owns 2,594,366 shares of the company’s stock valued at $171,617,000 after acquiring an additional 195,629 shares in the last quarter. Norges Bank bought a new stake in Centerspace in the 4th quarter valued at about $4,768,000. Silvercrest Asset Management Group LLC boosted its holdings in Centerspace by 6.9% in the 4th quarter. Silvercrest Asset Management Group LLC now owns 834,251 shares of the company’s stock valued at $55,186,000 after purchasing an additional 54,204 shares during the period. Northern Trust Corp grew its position in shares of Centerspace by 28.5% during the 4th quarter. Northern Trust Corp now owns 230,816 shares of the company’s stock worth $15,268,000 after purchasing an additional 51,259 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of Centerspace by 17.7% during the fourth quarter. JPMorgan Chase & Co. now owns 227,399 shares of the company’s stock worth $15,042,000 after purchasing an additional 34,157 shares during the period. Institutional investors own 79.00% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CSR shares. BMO Capital Markets upgraded Centerspace from a “market perform” rating to an “outperform” rating and set a $77.00 price target for the company in a research note on Friday, April 4th. Royal Bank Of Canada lifted their price objective on Centerspace from $71.00 to $72.00 and gave the company an “outperform” rating in a report on Monday, May 5th. UBS Group assumed coverage on Centerspace in a report on Monday, April 7th. They set a “neutral” rating and a $67.00 target price on the stock. Wells Fargo & Company began coverage on Centerspace in a research report on Wednesday, March 19th. They issued an “equal weight” rating and a $68.00 price target on the stock. Finally, Piper Sandler dropped their price target on Centerspace from $75.00 to $68.00 and set a “neutral” rating for the company in a research note on Monday, May 5th. Four research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $71.56.

Centerspace Price Performance

Centerspace stock opened at $61.09 on Friday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.05 and a current ratio of 0.05. Centerspace has a 52 week low of $54.13 and a 52 week high of $76.16. The stock has a market capitalization of $1.02 billion, a P/E ratio of -54.54 and a beta of 0.72. The stock has a fifty day moving average of $62.10 and a 200-day moving average of $62.29.

Centerspace (NYSE:CSR) last released its earnings results on Thursday, May 1st. The company reported $1.21 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.21. The firm had revenue of $67.09 million for the quarter, compared to analysts’ expectations of $66.70 million. Centerspace had a negative return on equity of 1.30% and a negative net margin of 4.23%. On average, sell-side analysts expect that Centerspace will post 4.94 earnings per share for the current fiscal year.

Centerspace Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Friday, June 27th will be given a $0.77 dividend. The ex-dividend date is Friday, June 27th. This represents a $3.08 dividend on an annualized basis and a yield of 5.04%. Centerspace’s dividend payout ratio is currently -275.00%.

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.