Employees Retirement System of Texas lifted its position in shares of Centerspace (NYSE:CSR - Free Report) by 59.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 43,000 shares of the company's stock after purchasing an additional 16,000 shares during the period. Employees Retirement System of Texas owned about 0.26% of Centerspace worth $2,844,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. boosted its holdings in shares of Centerspace by 4.5% in the fourth quarter. Russell Investments Group Ltd. now owns 22,115 shares of the company's stock valued at $1,463,000 after acquiring an additional 945 shares during the period. Wells Fargo & Company MN boosted its stake in Centerspace by 20.9% during the 4th quarter. Wells Fargo & Company MN now owns 12,774 shares of the company's stock worth $845,000 after purchasing an additional 2,206 shares during the period. Resona Asset Management Co. Ltd. acquired a new stake in Centerspace during the 4th quarter worth $433,000. Geode Capital Management LLC increased its stake in Centerspace by 7.3% in the fourth quarter. Geode Capital Management LLC now owns 415,680 shares of the company's stock valued at $27,503,000 after purchasing an additional 28,163 shares during the period. Finally, Nomura Asset Management Co. Ltd. increased its stake in Centerspace by 21.2% in 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. Hedge funds and other institutional investors own 79.00% of the company's stock.
Centerspace Price Performance
Shares of CSR traded up $0.34 during trading hours on Friday, reaching $57.26. The company had a trading volume of 89,414 shares, compared to its average volume of 110,207. The company has a current ratio of 0.04, a quick ratio of 0.05 and a debt-to-equity ratio of 0.74. Centerspace has a 12-month low of $54.13 and a 12-month high of $76.16. The firm has a 50 day simple moving average of $62.81 and a 200-day simple moving average of $66.21. The company has a market capitalization of $957.79 million, a price-to-earnings ratio of -45.09 and a beta of 0.79.
Centerspace (NYSE:CSR - Get Free Report) last issued its earnings results on Tuesday, February 18th. The company reported $1.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.15) by $1.36. Centerspace had a negative net margin of 4.34% and a negative return on equity of 1.34%. The company had revenue of $66.41 million during the quarter, compared to analysts' expectations of $65.96 million. Research analysts expect that Centerspace will post 4.94 earnings per share for the current year.
Centerspace Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 8th. Shareholders of record on Friday, March 28th were issued a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend 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 dividend payout ratio is -242.52%.
Analyst Upgrades and Downgrades
Several brokerages recently issued reports on CSR. Janney Montgomery Scott upgraded 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 Centerspace from $72.00 to $73.00 and gave the company an "outperform" rating in a report on Thursday, February 20th. Wedbush started coverage on Centerspace in a report on Tuesday, December 17th. They set a "neutral" rating and a $72.00 price target for the company. UBS Group assumed coverage on shares of Centerspace in a research note on Monday, April 7th. They issued a "neutral" rating and a $67.00 price objective on the stock. Finally, Wells Fargo & Company began coverage on shares of Centerspace in a research note on Wednesday, March 19th. They issued an "equal weight" rating and a $68.00 target price for the company. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Centerspace presently has a consensus rating of "Hold" and a consensus price target of $73.30.
Check Out Our Latest Analysis on CSR
About Centerspace
(
Free Report)
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.
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