Centerspace (NYSE:CSR) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas reduced its holdings in shares of Centerspace (NYSE:CSR) by 1.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,171 shares of the company’s stock after selling 324 shares during the period. Teacher Retirement System of Texas owned approximately 0.13% of Centerspace worth $1,436,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Peregrine Capital Management LLC grew its holdings in Centerspace by 1.6% during the first quarter. Peregrine Capital Management LLC now owns 91,754 shares of the company’s stock worth $5,941,000 after acquiring an additional 1,445 shares during the period. Illinois Municipal Retirement Fund grew its holdings in Centerspace by 2.6% during the first quarter. Illinois Municipal Retirement Fund now owns 8,726 shares of the company’s stock worth $565,000 after acquiring an additional 225 shares during the period. Cambridge Investment Research Advisors Inc. grew its holdings in Centerspace by 21.9% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 24,322 shares of the company’s stock worth $1,575,000 after acquiring an additional 4,369 shares during the period. Exchange Traded Concepts LLC acquired a new stake in Centerspace during the first quarter worth about $1,813,000. Finally, GAMMA Investing LLC grew its holdings in Centerspace by 7,022.7% during the first quarter. GAMMA Investing LLC now owns 18,519 shares of the company’s stock worth $1,199,000 after acquiring an additional 18,259 shares during the period. 79.00% of the stock is owned by institutional investors and hedge funds.

Centerspace Price Performance

CSR stock opened at $60.05 on Friday. The business has a fifty day moving average of $62.07 and a two-hundred day moving average of $62.09. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.76. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of -53.61 and a beta of 0.72. Centerspace has a 52-week low of $54.13 and a 52-week high of $76.16.

Centerspace (NYSE:CSR) last issued its quarterly earnings data on Thursday, May 1st. The company reported $1.21 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.21. Centerspace had a negative return on equity of 1.30% and a negative net margin of 4.23%. The business had revenue of $67.09 million during the quarter, compared to analysts’ expectations of $66.70 million. As a group, research analysts anticipate that Centerspace will post 4.94 earnings per share for the current year.

Centerspace Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 10th. Stockholders of record on Friday, June 27th were paid a $0.77 dividend. The ex-dividend date of this dividend was Friday, June 27th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 5.13%. Centerspace’s payout ratio is presently -275.00%.

Wall Street Analysts Forecast Growth

CSR has been the topic of several analyst reports. BMO Capital Markets raised Centerspace from a “market perform” rating to an “outperform” rating and set a $77.00 target price on the stock in a report on Friday, April 4th. Royal Bank Of Canada raised their target price on Centerspace from $71.00 to $72.00 and gave the company an “outperform” rating in a research report on Monday, May 5th. 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 target price on the stock. Piper Sandler decreased their target price on Centerspace from $75.00 to $68.00 and set a “neutral” rating on the stock in a research report on Monday, May 5th. Finally, UBS Group started coverage on Centerspace in a research report on Monday, April 7th. They set a “neutral” rating and a $67.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $71.56.

About Centerspace

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.