Centerspace $CSR Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC raised its position in Centerspace (NYSE:CSR) by 0.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 435,025 shares of the company’s stock after buying an additional 4,090 shares during the quarter. Geode Capital Management LLC owned approximately 2.60% of Centerspace worth $26,185,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of CSR. Vanguard Group Inc. raised its position in Centerspace by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 2,603,360 shares of the company’s stock valued at $168,568,000 after purchasing an additional 8,994 shares during the last quarter. Nuveen LLC acquired a new position in Centerspace in the first quarter valued at $13,147,000. Millennium Management LLC raised its holdings in shares of Centerspace by 307.3% in the first quarter. Millennium Management LLC now owns 184,051 shares of the company’s stock valued at $11,917,000 after buying an additional 138,861 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Centerspace by 17.8% during the first quarter. Goldman Sachs Group Inc. now owns 138,676 shares of the company’s stock worth $8,979,000 after buying an additional 20,992 shares during the period. Finally, Invesco Ltd. grew its holdings in shares of Centerspace by 32.3% during the first quarter. Invesco Ltd. now owns 135,365 shares of the company’s stock worth $8,765,000 after buying an additional 33,069 shares during the last quarter. 79.00% of the stock is currently owned by hedge funds and other institutional investors.

Centerspace Trading Up 0.2%

Shares of CSR stock opened at $66.76 on Friday. The business’s fifty day moving average price is $61.31 and its 200 day moving average price is $60.21. The firm has a market capitalization of $1.12 billion, a PE ratio of -37.09 and a beta of 0.75. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.05 and a quick ratio of 0.05. Centerspace has a 1-year low of $52.76 and a 1-year high of $74.10.

Centerspace (NYSE:CSR) last issued its earnings results on Monday, November 3rd. The company reported $1.19 EPS for the quarter, missing the consensus estimate of $1.22 by ($0.03). Centerspace had a negative return on equity of 2.81% and a negative net margin of 9.13%. Centerspace has set its FY 2025 guidance at 4.880-4.960 EPS. As a group, sell-side analysts forecast that Centerspace will post 4.94 EPS for the current fiscal year.

Centerspace Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Monday, September 29th were issued a $0.77 dividend. The ex-dividend date of this dividend was Monday, September 29th. This represents a $3.08 dividend on an annualized basis and a yield of 4.6%. Centerspace’s dividend payout ratio (DPR) is 172.07%.

Wall Street Analyst Weigh In

Several research firms have commented on CSR. UBS Group upped their price objective on Centerspace from $60.00 to $63.00 and gave the company a “neutral” rating in a research note on Monday, November 10th. Wall Street Zen upgraded Centerspace from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Piper Sandler lowered their price objective on shares of Centerspace from $68.00 to $66.00 and set a “neutral” rating on the stock in a research report on Monday, November 10th. Weiss Ratings restated a “hold (c)” rating on shares of Centerspace in a research report on Tuesday. Finally, Raymond James Financial reaffirmed a “market perform” rating on shares of Centerspace in a report on Wednesday, November 12th. Three equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $69.67.

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.