Centerspace (NYSE:CSR) Shares Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. increased its stake in Centerspace (NYSE:CSR) by 4.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,616 shares of the company’s stock after acquiring an additional 563 shares during the period. Mirae Asset Global Investments Co. Ltd. owned approximately 0.08% of Centerspace worth $734,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of CSR. Panagora Asset Management Inc. acquired a new stake in shares of Centerspace in the third quarter valued at $886,000. Teacher Retirement System of Texas increased its holdings in Centerspace by 196.0% in the third quarter. Teacher Retirement System of Texas now owns 17,649 shares of the company’s stock valued at $1,064,000 after buying an additional 11,686 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Centerspace by 3.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 247,845 shares of the company’s stock valued at $14,935,000 after buying an additional 9,179 shares during the last quarter. Dark Forest Capital Management LP purchased a new position in Centerspace in the third quarter valued at $549,000. Finally, Illinois Municipal Retirement Fund purchased a new position in Centerspace in the third quarter valued at $540,000. 79.00% of the stock is currently owned by institutional investors and hedge funds.

Centerspace Stock Performance

Shares of CSR stock opened at $64.87 on Thursday. The stock’s 50-day moving average is $57.82 and its two-hundred day moving average is $55.79. The firm has a market cap of $965.91 million, a price-to-earnings ratio of 27.84, a PEG ratio of 1.98 and a beta of 0.93. Centerspace has a 1 year low of $46.74 and a 1 year high of $66.99. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.03 and a current ratio of 0.03.

Centerspace Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 8th. Shareholders of record on Thursday, March 28th were issued a dividend of $0.75 per share. This is a positive change from Centerspace’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $3.00 annualized dividend and a dividend yield of 4.62%. Centerspace’s dividend payout ratio (DPR) is presently 128.76%.

Insiders Place Their Bets

In other news, Director John A. Schissel acquired 500 shares of the company’s stock in a transaction on Monday, March 11th. The shares were bought at an average price of $56.40 per share, with a total value of $28,200.00. Following the completion of the acquisition, the director now owns 9,522 shares in the company, valued at approximately $537,040.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.96% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Royal Bank of Canada reissued an “outperform” rating and issued a $63.00 target price on shares of Centerspace in a report on Friday, March 22nd. Piper Sandler reissued a “neutral” rating and issued a $63.00 target price on shares of Centerspace in a report on Tuesday, March 26th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.57.

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.