Boston Partners Sells 4,711 Shares of Centerspace (NYSE:CSR)

Boston Partners decreased its holdings in Centerspace (NYSE:CSR - Free Report) by 46.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,332 shares of the company's stock after selling 4,711 shares during the quarter. Boston Partners' holdings in Centerspace were worth $353,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Intech Investment Management LLC acquired a new stake in shares of Centerspace in the third quarter valued at approximately $403,000. Charles Schwab Investment Management Inc. raised its holdings in Centerspace by 9.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 275,511 shares of the company's stock worth $19,415,000 after buying an additional 23,839 shares during the period. Cerity Partners LLC bought a new position in Centerspace during the 3rd quarter worth about $746,000. Daiwa Securities Group Inc. grew its holdings in shares of Centerspace by 8.0% during the third quarter. Daiwa Securities Group Inc. now owns 5,032 shares of the company's stock worth $355,000 after buying an additional 372 shares in the last quarter. Finally, Loomis Sayles & Co. L P raised its holdings in shares of Centerspace by 3,131.6% in 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. Institutional investors and hedge funds own 79.00% of the company's stock.

Centerspace Stock Up 0.7 %

Shares of CSR stock traded up $0.47 during trading hours on Thursday, reaching $64.62. The company had a trading volume of 64,171 shares, compared to its average volume of 104,156. Centerspace has a 12 month low of $54.90 and a 12 month high of $76.16. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.04 and a quick ratio of 0.05. The business has a fifty day simple moving average of $63.06 and a 200-day simple moving average of $67.51. The company has a market cap of $1.08 billion, a price-to-earnings ratio of -50.88 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. Centerspace had a negative return on equity of 1.34% and a negative net margin of 4.34%. The business had revenue of $66.41 million for the quarter, compared to analyst estimates of $65.96 million. On average, research analysts expect that Centerspace will post 4.94 earnings per share for the current fiscal year.

Centerspace Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 8th. Stockholders of record on Friday, March 28th will be paid a dividend of $0.77 per share. The ex-dividend date is Friday, March 28th. This represents a $3.08 annualized dividend and a dividend yield of 4.77%. This is a positive change from Centerspace's previous quarterly dividend of $0.75. Centerspace's dividend payout ratio (DPR) is presently -242.52%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CSR. Wedbush initiated coverage on shares of Centerspace in a report on Tuesday, December 17th. They issued a "neutral" rating and a $72.00 target price on the stock. Janney Montgomery Scott raised Centerspace from a "neutral" rating to a "buy" rating and set a $72.00 price target on the stock in a research report on Wednesday, January 15th. Royal Bank of Canada boosted their target price on shares of Centerspace from $72.00 to $73.00 and gave the company an "outperform" rating in a research report on Thursday, February 20th. Finally, Wells Fargo & Company initiated coverage on Centerspace in a research report on Wednesday, March 19th. They set an "equal weight" rating and a $68.00 price objective for the company. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $73.63.

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.