Centerspace (NYSE:CSR) Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. raised its holdings in Centerspace (NYSE:CSR - Free Report) by 11.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 90,753 shares of the company's stock after purchasing an additional 9,415 shares during the quarter. Principal Financial Group Inc. owned about 0.55% of Centerspace worth $6,003,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Centerspace by 35.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 579 shares of the company's stock valued at $41,000 after purchasing an additional 150 shares during the period. Loomis Sayles & Co. L P raised its position in Centerspace by 3,131.6% during the 3rd quarter. Loomis Sayles & Co. L P now owns 614 shares of the company's stock worth $43,000 after buying an additional 595 shares during the last quarter. KBC Group NV lifted its stake in shares of Centerspace by 75.9% in the 4th quarter. KBC Group NV now owns 1,080 shares of the company's stock worth $71,000 after acquiring an additional 466 shares during the period. Van ECK Associates Corp boosted its holdings in shares of Centerspace by 15.2% in the third quarter. Van ECK Associates Corp now owns 2,626 shares of the company's stock valued at $186,000 after acquiring an additional 347 shares in the last quarter. Finally, Versor Investments LP acquired a new position in shares of Centerspace during the third quarter worth about $204,000. Hedge funds and other institutional investors own 79.00% of the company's stock.

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Centerspace Price Performance

CSR stock traded down $1.01 on Thursday, reaching $63.75. The company had a trading volume of 11,642 shares, compared to its average volume of 86,062. The company's fifty day moving average is $62.87 and its 200 day moving average is $68.61. The company has a market cap of $1.07 billion, a P/E ratio of -50.19 and a beta of 0.91. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.05 and a current ratio of 0.04. Centerspace has a 1 year low of $54.50 and a 1 year high of $76.16.

Centerspace (NYSE:CSR - Get Free Report) last issued its quarterly earnings data on Tuesday, February 18th. The company reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $1.36. The business had revenue of $66.41 million for the quarter, compared to the consensus estimate of $65.96 million. Centerspace had a negative return on equity of 1.34% and a negative net margin of 4.34%. On average, research analysts forecast that Centerspace will post 4.94 earnings per share for the current year.

Centerspace Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 8th. Stockholders of record on Friday, March 28th will be issued a dividend of $0.77 per share. The ex-dividend date of this dividend is Friday, March 28th. This is an increase from Centerspace's previous quarterly dividend of $0.75. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.83%. Centerspace's payout ratio is -242.52%.

Analyst Ratings Changes

CSR has been the topic of a number of analyst reports. Royal Bank of Canada lifted their price objective on Centerspace from $72.00 to $73.00 and gave the company an "outperform" rating in a report on Thursday, February 20th. Wedbush assumed coverage on Centerspace in a report on Tuesday, December 17th. They set a "neutral" rating and a $72.00 price objective on the stock. Finally, 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. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $74.43.

Centerspace 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.