Arrowstreet Capital Limited Partnership Sells 33,902 Shares of Centerspace (NYSE:CSR)

Arrowstreet Capital Limited Partnership lessened its stake in Centerspace (NYSE:CSR - Free Report) by 31.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 72,940 shares of the company's stock after selling 33,902 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 0.44% of Centerspace worth $4,825,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. raised its stake in shares of Centerspace by 21.2% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 22,150 shares of the company's stock valued at $1,465,000 after purchasing an additional 3,880 shares during the period. Norges Bank acquired a new position in shares of Centerspace in the 4th quarter valued at about $4,768,000. JPMorgan Chase & Co. boosted its position in Centerspace by 17.7% during the 4th quarter. JPMorgan Chase & Co. now owns 227,399 shares of the company's stock valued at $15,042,000 after purchasing an additional 34,157 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Centerspace by 16.5% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 10,929 shares of the company's stock valued at $717,000 after acquiring an additional 1,544 shares during the period. Finally, EntryPoint Capital LLC grew its position in Centerspace by 145.7% in the 4th quarter. EntryPoint Capital LLC now owns 9,177 shares of the company's stock worth $607,000 after purchasing an additional 5,442 shares during the last quarter. Institutional investors and hedge funds own 79.00% of the company's stock.

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Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Wells Fargo & Company began coverage on shares of Centerspace in a research report on Wednesday, March 19th. They set an "equal weight" rating and a $68.00 price target on the stock. BMO Capital Markets raised Centerspace from a "market perform" rating to an "outperform" rating and set a $77.00 price objective for the company in a research note on Friday, April 4th. UBS Group began coverage on shares of Centerspace in a research report on Monday, April 7th. They issued a "neutral" rating and a $67.00 target price on the stock. Janney Montgomery Scott raised Centerspace from a "neutral" rating to a "buy" rating and set a $72.00 price objective for the company in a research note on Wednesday, January 15th. Finally, Wedbush initiated coverage on shares of Centerspace in a research note on Tuesday, December 17th. They set a "neutral" rating and a $72.00 target price for the company. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $73.30.

Centerspace Stock Up 0.6 %

NYSE CSR traded up $0.34 during trading on Friday, hitting $57.26. The stock had a trading volume of 89,414 shares, compared to its average volume of 110,619. Centerspace has a 12 month low of $54.13 and a 12 month high of $76.16. The company's 50-day moving average price is $62.81 and its two-hundred day moving average price is $66.25. The company has a market capitalization of $957.79 million, a PE ratio of -45.09 and a beta of 0.79. 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 (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 analysts' consensus estimates of ($0.15) by $1.36. The business had revenue of $66.41 million for the quarter, compared to analyst estimates 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, sell-side analysts forecast that Centerspace will post 4.94 EPS for the current year.

Centerspace Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 8th. Investors of record on Friday, March 28th were paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 5.38%. The ex-dividend date of this dividend was Friday, March 28th. This is an increase from Centerspace's previous quarterly dividend of $0.75. Centerspace's payout ratio is -242.52%.

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.