Allspring Global Investments Holdings LLC bought a new stake in Centerspace (NYSE:CSR - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 5,688 shares of the company's stock, valued at approximately $370,000.
Several other institutional investors and hedge funds have also modified their holdings of CSR. Mirae Asset Global Investments Co. Ltd. grew its holdings 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 acquiring an additional 150 shares during the last quarter. Asset Management One Co. Ltd. lifted its position in shares of Centerspace by 0.7% during the third quarter. Asset Management One Co. Ltd. now owns 23,116 shares of the company's stock worth $1,629,000 after purchasing an additional 170 shares in the last quarter. State of Alaska Department of Revenue lifted its position in shares of Centerspace by 1.3% during the third quarter. State of Alaska Department of Revenue now owns 16,110 shares of the company's stock worth $1,134,000 after purchasing an additional 208 shares in the last quarter. Yousif Capital Management LLC lifted its position in shares of Centerspace by 4.6% during the fourth quarter. Yousif Capital Management LLC now owns 6,226 shares of the company's stock worth $412,000 after purchasing an additional 276 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its position in shares of Centerspace by 3.4% during the third quarter. MetLife Investment Management LLC now owns 9,091 shares of the company's stock worth $641,000 after purchasing an additional 303 shares in the last quarter. 79.00% of the stock is owned by institutional investors and hedge funds.
Centerspace Trading Up 1.3 %
NYSE CSR traded up $0.84 during trading hours on Friday, hitting $66.30. The company's stock had a trading volume of 171,180 shares, compared to its average volume of 89,071. The stock has a fifty day moving average of $62.94 and a 200 day moving average of $68.83. Centerspace has a twelve month low of $54.50 and a twelve month high of $76.16. The firm has a market capitalization of $1.11 billion, a P/E ratio of -52.21 and a beta of 0.90. 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 - Get Free Report) last posted its earnings results on Tuesday, February 18th. The company reported $1.21 earnings per share for the quarter, topping the consensus estimate of ($0.15) by $1.36. The company had revenue of $66.41 million for the quarter, compared to analyst estimates of $65.96 million. Centerspace had a negative net margin of 4.34% and a negative return on equity of 1.34%. Equities research analysts forecast that Centerspace will post 4.94 earnings per share for the current fiscal year.
Centerspace Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 8th. Stockholders of record on Friday, March 28th will be given a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.65%. The ex-dividend date is Friday, March 28th. This is an increase from Centerspace's previous quarterly dividend of $0.75. Centerspace's dividend payout ratio (DPR) is -242.52%.
Wall Street Analysts Forecast Growth
CSR has been the topic of a number of research reports. Janney Montgomery Scott upgraded shares of Centerspace from a "neutral" rating to a "buy" rating and set a $72.00 target price on the stock in a research report on Wednesday, January 15th. Wedbush initiated coverage on shares of Centerspace in a research report on Tuesday, December 17th. They set a "neutral" rating and a $72.00 target price on the stock. Finally, Royal Bank of Canada upped their target price on shares of Centerspace from $72.00 to $73.00 and gave the stock an "outperform" rating in a research report on Thursday, February 20th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $74.43.
Check Out Our Latest Analysis on Centerspace
Centerspace Company Profile
(
Free Report)
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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