Vert Asset Management LLC grew its position in Centerspace (NYSE:CSR – Free Report) by 27.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,004 shares of the company’s stock after purchasing an additional 1,295 shares during the quarter. Vert Asset Management LLC’s holdings in Centerspace were worth $397,000 at the end of the most recent reporting period.
A number of other large investors have also made changes to their positions in CSR. Mirae Asset Global Investments Co. Ltd. grew its stake in Centerspace by 35.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 579 shares of the company’s stock worth $41,000 after buying an additional 150 shares during the last quarter. Loomis Sayles & Co. L P grew its stake in shares of Centerspace by 3,131.6% during the third quarter. Loomis Sayles & Co. L P now owns 614 shares of the company’s stock worth $43,000 after acquiring an additional 595 shares during the last quarter. KBC Group NV increased its holdings in shares of Centerspace by 75.9% during the fourth quarter. KBC Group NV now owns 1,080 shares of the company’s stock valued at $71,000 after acquiring an additional 466 shares in the last quarter. Van ECK Associates Corp raised its position in shares of Centerspace by 15.2% in the 3rd quarter. Van ECK Associates Corp now owns 2,626 shares of the company’s stock valued at $186,000 after purchasing an additional 347 shares during the last quarter. Finally, Versor Investments LP acquired a new stake in Centerspace in the 3rd quarter worth approximately $204,000. 79.00% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research analysts have issued reports on the stock. Royal Bank of Canada restated an “outperform” rating and set a $76.00 price target on shares of Centerspace in a research note on Wednesday, October 30th. Wedbush initiated coverage on Centerspace in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $72.00 target price on the stock. Janney Montgomery Scott raised Centerspace from a “neutral” rating to a “buy” rating and set a $72.00 price target for the company in a research report on Wednesday, January 15th. Finally, Raymond James lowered Centerspace from an “outperform” rating to a “market perform” rating in a report on Monday, October 21st. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $74.86.
Centerspace Price Performance
Shares of CSR opened at $62.41 on Tuesday. The business’s 50-day moving average is $66.74 and its two-hundred day moving average is $70.05. Centerspace has a fifty-two week low of $52.26 and a fifty-two week high of $76.16. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.70.
Centerspace (NYSE:CSR – Get Free Report) last posted its earnings results on Monday, October 28th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate of $1.17 by ($1.57). Centerspace had a negative return on equity of 1.72% and a negative net margin of 5.57%. The company had revenue of $65.03 million for the quarter, compared to analyst estimates of $66.35 million. During the same period last year, the business earned $1.20 earnings per share. On average, sell-side analysts forecast that Centerspace will post 4.85 EPS for the current fiscal year.
Centerspace Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Monday, December 30th were paid a dividend of $0.75 per share. The ex-dividend date of this dividend was Monday, December 30th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 4.81%. Centerspace’s payout ratio is -186.33%.
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.
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