Barclays PLC Increases Holdings in Centerspace (NYSE:CSR)

Barclays PLC boosted its stake in Centerspace (NYSE:CSR - Free Report) by 1,553.4% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 102,859 shares of the company's stock after purchasing an additional 96,638 shares during the period. Barclays PLC owned about 0.62% of Centerspace worth $7,249,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Centerspace by 295.6% during 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 valued at $7,598,000 after acquiring an additional 80,566 shares during the period. Wellington Management Group LLP boosted 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. Millennium Management LLC boosted its stake in shares of Centerspace by 377.3% in the second quarter. Millennium Management LLC now owns 43,604 shares of the company's stock valued at $2,949,000 after purchasing an additional 34,469 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Centerspace by 9.5% in 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, Marshall Wace LLP purchased a new position in Centerspace in the 2nd quarter valued at approximately $1,046,000. Hedge funds and other institutional investors own 79.00% of the company's stock.

Centerspace Stock Performance

Shares of NYSE CSR traded down $0.96 during midday trading on Thursday, reaching $64.75. 163,101 shares of the company were exchanged, compared to its average volume of 104,799. The stock has a market cap of $1.07 billion, a P/E ratio of -40.22, a PEG ratio of 2.05 and a beta of 0.89. Centerspace has a 1 year low of $52.26 and a 1 year high of $76.16. The stock has a fifty day simple moving average of $71.08 and a 200 day simple moving average of $70.96. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.70.

Centerspace (NYSE:CSR - Get Free Report) last announced its earnings results on Monday, October 28th. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of $1.17 by ($1.57). Centerspace had a negative net margin of 5.57% and a negative return on equity of 1.72%. The company had revenue of $65.03 million during the quarter, compared to analysts' expectations of $66.35 million. During the same quarter last year, the business posted $1.20 earnings per share. On average, research analysts forecast that Centerspace will post 4.86 earnings per share for the current fiscal year.

Centerspace Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Monday, December 30th will be issued a dividend of $0.75 per share. The ex-dividend date is Monday, December 30th. This represents a $3.00 annualized dividend and a yield of 4.63%. Centerspace's dividend payout ratio is currently -186.34%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on CSR shares. Royal Bank of Canada reiterated an "outperform" rating and issued a $76.00 price objective on shares of Centerspace in a research note on Wednesday, October 30th. Raymond James lowered Centerspace from an "outperform" rating to a "market perform" rating in a research report on Monday, October 21st. Finally, Wedbush assumed coverage on shares of Centerspace in a research note on Tuesday. They issued a "neutral" rating and a $72.00 price objective for the company. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, Centerspace presently has an average rating of "Hold" and a consensus price target of $75.33.

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.