Allianz Asset Management GmbH Decreases Stake in Centerspace $CSR

Allianz Asset Management GmbH lessened its holdings in Centerspace (NYSE:CSR) by 78.2% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,360 shares of the company’s stock after selling 73,220 shares during the period. Allianz Asset Management GmbH owned approximately 0.12% of Centerspace worth $1,199,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Versant Capital Management Inc boosted its position in Centerspace by 488.4% in the third quarter. Versant Capital Management Inc now owns 1,630 shares of the company’s stock worth $96,000 after purchasing an additional 1,353 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of Centerspace by 103.4% during the 2nd quarter. PNC Financial Services Group Inc. now owns 2,176 shares of the company’s stock valued at $131,000 after purchasing an additional 1,106 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Centerspace by 64.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,252 shares of the company’s stock worth $136,000 after purchasing an additional 879 shares during the period. CWM LLC boosted its holdings in shares of Centerspace by 3,235.3% in the 2nd quarter. CWM LLC now owns 2,268 shares of the company’s stock worth $137,000 after buying an additional 2,200 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Centerspace in the 3rd quarter worth about $170,000. 79.00% of the stock is owned by institutional investors.

Centerspace Stock Up 1.2%

Shares of NYSE CSR opened at $63.50 on Friday. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 0.96. The company has a market cap of $1.06 billion, a P/E ratio of 35.47 and a beta of 0.78. Centerspace has a 52 week low of $52.76 and a 52 week high of $69.15. The business has a 50-day simple moving average of $65.03 and a two-hundred day simple moving average of $61.57.

Centerspace Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, January 12th. Shareholders of record on Tuesday, December 30th were paid a $0.77 dividend. The ex-dividend date was Tuesday, December 30th. This represents a $3.08 annualized dividend and a yield of 4.9%. Centerspace’s dividend payout ratio is currently 172.07%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Centerspace from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Wells Fargo & Company raised their target price on Centerspace from $60.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Monday, November 17th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Centerspace in a research report on Monday, December 29th. Raymond James Financial reiterated a “market perform” rating on shares of Centerspace in a research note on Wednesday, November 12th. Finally, Piper Sandler decreased their price objective on Centerspace from $68.00 to $66.00 and set a “neutral” rating for the company in a report on Monday, November 10th. Two investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $69.86.

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. Centerspace was named a Top Workplace for the fourth consecutive year in 2023 by the Minneapolis Star Tribune.