Amundi Grows Stake in Centerspace (NYSE:CSR)

Amundi grew its stake in Centerspace (NYSE:CSR - Free Report) by 53.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,297 shares of the company's stock after acquiring an additional 5,667 shares during the quarter. Amundi owned 0.10% of Centerspace worth $1,002,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its holdings in shares of Centerspace by 3.6% during the third quarter. Principal Financial Group Inc. now owns 81,338 shares of the company's stock valued at $5,732,000 after purchasing an additional 2,852 shares in the last quarter. Quest Partners LLC bought a new position in shares of Centerspace during the third quarter valued at $772,000. Intech Investment Management LLC bought a new position in shares of Centerspace during the third quarter valued at $403,000. Charles Schwab Investment Management Inc. lifted 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 purchasing an additional 23,839 shares in the last quarter. Finally, Cerity Partners LLC bought a new position in shares of Centerspace during the third quarter valued at $746,000. 79.00% of the stock is owned by institutional investors.

Centerspace Stock Performance

CSR stock traded down $0.55 during trading on Friday, reaching $63.63. The stock had a trading volume of 245,840 shares, compared to its average volume of 104,643. Centerspace has a 52 week low of $54.90 and a 52 week high of $76.16. The stock's 50 day moving average is $62.86 and its two-hundred day moving average is $67.73. The company has a current ratio of 0.04, a quick ratio of 0.05 and a debt-to-equity ratio of 0.74. The firm has a market cap of $1.06 billion, a PE ratio of -50.10 and a beta of 0.91.

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Centerspace (NYSE:CSR - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The company reported $1.21 EPS for the quarter, topping analysts' consensus estimates of ($0.15) by $1.36. The business had revenue of $66.41 million during the quarter, compared to analysts' expectations of $65.96 million. Centerspace had a negative return on equity of 1.34% and a negative net margin of 4.34%. As a group, equities analysts anticipate that Centerspace will post 4.94 earnings per share for the current year.

Centerspace Increases Dividend

The business 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 boost from Centerspace's previous quarterly dividend of $0.75. The ex-dividend date is Friday, March 28th. This represents a $3.08 dividend on an annualized basis and a yield of 4.84%. Centerspace's dividend payout ratio is presently -242.52%.

Wall Street Analysts Forecast Growth

CSR has been the topic of a number of research analyst reports. Wells Fargo & Company initiated coverage on Centerspace in a report on Wednesday. They set an "equal weight" rating and a $68.00 price target on the stock. Wedbush initiated 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 raised Centerspace from a "neutral" rating to a "buy" rating and set a $72.00 target price on the stock in a report on Wednesday, January 15th. Finally, Royal Bank of Canada increased their target price on Centerspace from $72.00 to $73.00 and gave the company an "outperform" rating in a report on Thursday, February 20th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Centerspace presently has an average rating of "Hold" and an average price target of $73.63.

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.