Centerspace (NYSE:CSR) Stake Reduced by Boston Partners

Boston Partners trimmed its stake in Centerspace (NYSE:CSR) by 46.9% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 5,332 shares of the company’s stock after selling 4,711 shares during the quarter. Boston Partners’ holdings in Centerspace were worth $353,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Barclays PLC increased its holdings in shares of Centerspace by 1,553.4% in the 3rd quarter. Barclays PLC now owns 102,859 shares of the company’s stock worth $7,249,000 after acquiring an additional 96,638 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Centerspace by 295.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 107,820 shares of the company’s stock worth $7,598,000 after purchasing an additional 80,566 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Centerspace by 6.4% in the third quarter. Wellington Management Group LLP now owns 1,019,353 shares of the company’s stock valued at $71,834,000 after purchasing an additional 61,394 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Centerspace by 25.6% in the third quarter. JPMorgan Chase & Co. now owns 193,242 shares of the company’s stock valued at $13,618,000 after purchasing an additional 39,380 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Centerspace by 9.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 275,511 shares of the company’s stock valued at $19,415,000 after buying an additional 23,839 shares during the last quarter. Institutional investors and hedge funds own 79.00% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. 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. Royal Bank of Canada raised their price target on Centerspace from $72.00 to $73.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Wells Fargo & Company assumed coverage on shares of Centerspace in a research note on Wednesday, March 19th. They set an “equal weight” rating and a $68.00 price objective on the stock. Finally, Janney Montgomery Scott upgraded shares of Centerspace from a “neutral” rating to a “buy” rating and set a $72.00 target price for the company in a research report on Wednesday, January 15th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $73.63.

Centerspace Trading Down 0.9 %

Shares of CSR stock opened at $63.63 on Monday. The stock has a 50-day simple moving average of $62.86 and a 200 day simple moving average of $67.68. The stock has a market capitalization of $1.06 billion, a P/E ratio of -50.10 and a beta of 0.91. Centerspace has a fifty-two week low of $54.90 and a fifty-two week high of $76.16. The company has a quick ratio of 0.05, a current ratio of 0.04 and a debt-to-equity ratio of 0.74.

Centerspace (NYSE:CSR) last posted its quarterly earnings data on Tuesday, February 18th. The company reported $1.21 earnings per share for the quarter, beating the consensus estimate of ($0.15) by $1.36. Centerspace had a negative net margin of 4.34% and a negative return on equity of 1.34%. The company had revenue of $66.41 million during the quarter, compared to analyst estimates of $65.96 million. On average, sell-side analysts expect that Centerspace will post 4.94 earnings per share for the current fiscal year.

Centerspace Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 8th. Shareholders of record on Friday, March 28th will be given a $0.77 dividend. This is a positive change from Centerspace’s previous quarterly dividend of $0.75. The ex-dividend date is Friday, March 28th. This represents a $3.08 annualized dividend and a yield of 4.84%. Centerspace’s payout ratio is -242.52%.

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.