Centerspace (NYSE:CSR) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. raised its stake in Centerspace (NYSE:CSR) by 2.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 93,126 shares of the company’s stock after acquiring an additional 2,373 shares during the period. Principal Financial Group Inc. owned 0.56% of Centerspace worth $6,030,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently added to or reduced their stakes in the company. Illinois Municipal Retirement Fund raised its stake in Centerspace by 2.6% during the 1st quarter. Illinois Municipal Retirement Fund now owns 8,726 shares of the company’s stock valued at $565,000 after acquiring an additional 225 shares during the last quarter. Intech Investment Management LLC grew its position in Centerspace by 76.8% during the fourth quarter. Intech Investment Management LLC now owns 10,108 shares of the company’s stock worth $669,000 after buying an additional 4,391 shares during the period. Raymond James Financial Inc. purchased a new position in Centerspace in the fourth quarter valued at about $417,000. Geode Capital Management LLC increased its stake in Centerspace by 7.3% in the 4th quarter. Geode Capital Management LLC now owns 415,680 shares of the company’s stock valued at $27,503,000 after purchasing an additional 28,163 shares in the last quarter. Finally, Deutsche Bank AG raised its holdings in Centerspace by 28.5% during the fourth quarter. Deutsche Bank AG now owns 19,400 shares of the company’s stock worth $1,283,000 after purchasing an additional 4,301 shares during the last quarter. Institutional investors and hedge funds own 79.00% of the company’s stock.

Centerspace Price Performance

CSR stock opened at $59.63 on Thursday. The company has a market capitalization of $998.14 million, a PE ratio of -53.24 and a beta of 0.72. 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’s 50 day moving average is $62.00 and its two-hundred day moving average is $61.99. Centerspace has a 52-week low of $54.13 and a 52-week high of $76.16.

Centerspace (NYSE:CSR) last posted its quarterly earnings data on Thursday, May 1st. The company reported $1.21 EPS for the quarter, meeting analysts’ consensus estimates of $1.21. The firm had revenue of $67.09 million for the quarter, compared to the consensus estimate of $66.70 million. Centerspace had a negative net margin of 4.23% and a negative return on equity of 1.30%. Analysts predict that Centerspace will post 4.94 earnings per share for the current fiscal year.

Centerspace Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 10th. Investors of record on Friday, June 27th were paid a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 5.17%. The ex-dividend date was Friday, June 27th. Centerspace’s dividend payout ratio (DPR) is presently -275.00%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on CSR shares. Piper Sandler cut their price objective on Centerspace from $75.00 to $68.00 and set a “neutral” rating for the company in a research report on Monday, May 5th. Raymond James Financial upgraded Centerspace from an “outperform” rating to a “strong-buy” rating and upped their target price for the company from $66.00 to $69.00 in a research note on Thursday, May 15th. Royal Bank Of Canada raised their price target on Centerspace from $71.00 to $72.00 and gave the stock an “outperform” rating in a research note on Monday, May 5th. BMO Capital Markets raised Centerspace from a “market perform” rating to an “outperform” rating and set a $77.00 price target for the company in a research report on Friday, April 4th. Finally, Wells Fargo & Company began coverage on shares of Centerspace in a research report on Wednesday, March 19th. They set an “equal weight” rating and a $68.00 price target 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. According to MarketBeat.com, Centerspace presently has a consensus rating of “Moderate Buy” and an average price target of $70.78.

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.