AlphaQuest LLC Cuts Holdings in Centerspace (NYSE:CSR)

AlphaQuest LLC lessened its position in Centerspace (NYSE:CSR - Free Report) by 55.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,880 shares of the company's stock after selling 6,079 shares during the period. AlphaQuest LLC's holdings in Centerspace were worth $323,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in CSR. Smartleaf Asset Management LLC increased its holdings in Centerspace by 370.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 381 shares of the company's stock worth $25,000 after buying an additional 300 shares in the last quarter. Loomis Sayles & Co. L P raised its holdings 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 valued at $43,000 after purchasing an additional 595 shares during the last quarter. KBC Group NV lifted its position in 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 purchasing an additional 466 shares during the period. Versor Investments LP purchased a new stake in Centerspace in the third quarter worth approximately $204,000. Finally, Van ECK Associates Corp boosted its holdings in Centerspace by 19.4% in the fourth quarter. Van ECK Associates Corp now owns 3,135 shares of the company's stock worth $207,000 after purchasing an additional 509 shares during the last quarter. Hedge funds and other institutional investors own 79.00% of the company's stock.

Centerspace Stock Performance

Shares of NYSE CSR traded down $0.34 during trading on Tuesday, hitting $63.83. The company had a trading volume of 80,044 shares, compared to its average volume of 103,854. Centerspace has a 12 month low of $54.50 and a 12 month high of $76.16. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.05 and a current ratio of 0.04. The firm has a market capitalization of $1.07 billion, a P/E ratio of -50.26 and a beta of 0.91. The stock has a 50 day simple moving average of $62.66 and a 200 day simple moving average of $67.99.

Remove Ads

Centerspace (NYSE:CSR - Get Free Report) last released its earnings results on Tuesday, February 18th. The company reported $1.21 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $65.96 million. As a group, analysts anticipate that Centerspace will post 4.94 earnings per share for the current year.

Centerspace Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 8th. Investors of record on Friday, March 28th will be paid a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 4.83%. The ex-dividend date of this dividend 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 Analyst Weigh In

Several research firms have recently weighed in on CSR. Wedbush assumed coverage on Centerspace in a report on Tuesday, December 17th. They set a "neutral" rating and a $72.00 price target on the stock. Janney Montgomery Scott upgraded Centerspace from a "neutral" rating to a "buy" rating and set a $72.00 price objective for the company in a research report on Wednesday, January 15th. Finally, Royal Bank of Canada raised their target price on Centerspace from $72.00 to $73.00 and gave the stock an "outperform" rating in a research report on Thursday, February 20th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, Centerspace presently has a consensus rating of "Hold" and an average price target of $74.43.

Centerspace Company 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.