Nisa Investment Advisors LLC Decreases Holdings in Centerspace (NYSE:CSR)

Nisa Investment Advisors LLC lessened its holdings in shares of Centerspace (NYSE:CSR) by 8.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,816 shares of the company’s stock after selling 362 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Centerspace were worth $250,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Centerspace by 8.2% during the fourth quarter. Vanguard Group Inc. now owns 2,594,366 shares of the company’s stock worth $171,617,000 after purchasing an additional 195,629 shares during the period. Silvercrest Asset Management Group LLC grew its stake in Centerspace by 6.9% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 834,251 shares of the company’s stock valued at $55,186,000 after acquiring an additional 54,204 shares in the last quarter. Geode Capital Management LLC grew its stake in Centerspace by 7.3% during the fourth quarter. Geode Capital Management LLC now owns 415,680 shares of the company’s stock valued at $27,503,000 after acquiring an additional 28,163 shares in the last quarter. Northern Trust Corp grew its stake in Centerspace by 28.5% during the fourth quarter. Northern Trust Corp now owns 230,816 shares of the company’s stock valued at $15,268,000 after acquiring an additional 51,259 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Centerspace by 17.7% during the fourth quarter. JPMorgan Chase & Co. now owns 227,399 shares of the company’s stock valued at $15,042,000 after acquiring an additional 34,157 shares in the last quarter. Institutional investors own 79.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on CSR. UBS Group decreased their price target on shares of Centerspace from $67.00 to $60.00 and set a “neutral” rating on the stock in a research note on Tuesday. Royal Bank Of Canada lifted their target price on shares of 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 shares of Centerspace from a “market perform” rating to an “outperform” rating and set a $77.00 price objective on the stock in a research report on Friday, April 4th. Piper Sandler reduced their price objective on shares of Centerspace from $75.00 to $68.00 and set a “neutral” rating on the stock in a research report on Monday, May 5th. Finally, Raymond James Financial raised shares of Centerspace from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the company from $66.00 to $69.00 in a research report on Thursday, May 15th. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $70.78.

Centerspace Stock Down 0.8%

NYSE:CSR opened at $59.20 on Friday. Centerspace has a twelve month low of $54.13 and a twelve month high of $76.16. The company has a market cap of $991.06 million, a price-to-earnings ratio of -52.86 and a beta of 0.72. The stock has a fifty day simple moving average of $61.97 and a 200-day simple moving average of $61.95. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.76.

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

Centerspace Announces Dividend

The business 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. This represents a $3.08 annualized dividend and a dividend yield of 5.20%. The ex-dividend date of this dividend was Friday, June 27th. Centerspace’s payout ratio is presently -275.00%.

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.