Horizon Investments LLC Makes New Investment in Centerspace $CSR

Horizon Investments LLC acquired a new position in shares of Centerspace (NYSE:CSR) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 9,673 shares of the company’s stock, valued at approximately $645,000. Horizon Investments LLC owned about 0.06% of Centerspace as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Danske Bank A S acquired a new position in Centerspace during the fourth quarter worth $47,000. ABS Direct Equity Fund LLC acquired a new position in Centerspace during the fourth quarter worth $721,000. Vert Asset Management LLC boosted its stake in Centerspace by 7.7% during the fourth quarter. Vert Asset Management LLC now owns 7,335 shares of the company’s stock worth $489,000 after buying an additional 523 shares during the last quarter. Wealth Enhancement Trust Services Inc. acquired a new position in Centerspace during the fourth quarter worth $258,000. Finally, Asset Management One Co. Ltd. boosted its stake in Centerspace by 9.3% during the fourth quarter. Asset Management One Co. Ltd. now owns 25,146 shares of the company’s stock worth $1,703,000 after buying an additional 2,135 shares during the last quarter. Institutional investors and hedge funds own 79.00% of the company’s stock.

Centerspace Stock Performance

Shares of Centerspace stock opened at $67.60 on Friday. Centerspace has a 52 week low of $52.76 and a 52 week high of $69.61. The business’s fifty day simple moving average is $62.33 and its 200-day simple moving average is $63.55. The firm has a market cap of $1.14 billion, a PE ratio of 150.23 and a beta of 0.89. The company has a quick ratio of 0.04, a current ratio of 0.03 and a debt-to-equity ratio of 0.88.

Centerspace (NYSE:CSR) last announced its quarterly earnings results on Monday, May 4th. The company reported ($0.77) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.48). Centerspace had a net margin of 2.93% and a return on equity of 0.94%. The business had revenue of $65.07 million during the quarter, compared to analyst estimates of $66.54 million. Centerspace has set its FY 2026 guidance at 4.810-5.050 EPS. Equities analysts forecast that Centerspace will post 4.85 earnings per share for the current year.

Centerspace Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 14th. Investors of record on Monday, March 30th were paid a dividend of $0.77 per share. The ex-dividend date of this dividend was Monday, March 30th. This represents a $3.08 annualized dividend and a yield of 4.6%. Centerspace’s dividend payout ratio is presently 684.44%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Wells Fargo & Company lowered their price objective on Centerspace from $74.00 to $69.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 5th. Wall Street Zen lowered Centerspace from a “sell” rating to a “strong sell” rating in a research note on Saturday. Weiss Ratings raised Centerspace from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday. Royal Bank Of Canada upped their price target on Centerspace from $70.00 to $71.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Piper Sandler raised Centerspace from a “neutral” rating to an “overweight” rating and upped their price target for the company from $69.00 to $72.00 in a research note on Tuesday, April 7th. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $68.67.

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