Intech Investment Management LLC Grows Holdings in Centerspace (NYSE:CSR)

Intech Investment Management LLC boosted its holdings in Centerspace (NYSE:CSR - Free Report) by 76.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,108 shares of the company's stock after purchasing an additional 4,391 shares during the quarter. Intech Investment Management LLC owned about 0.06% of Centerspace worth $669,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC boosted its holdings in shares of Centerspace by 370.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 381 shares of the company's stock valued at $25,000 after buying an additional 300 shares in the last quarter. Loomis Sayles & Co. L P lifted its position in 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 acquiring an additional 595 shares during the last quarter. KBC Group NV boosted its stake in Centerspace by 75.9% in the fourth quarter. KBC Group NV now owns 1,080 shares of the company's stock valued at $71,000 after acquiring an additional 466 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of Centerspace by 19.4% during the fourth quarter. Van ECK Associates Corp now owns 3,135 shares of the company's stock worth $207,000 after purchasing an additional 509 shares during the last quarter. Finally, Systematic Financial Management LP acquired a new stake in shares of Centerspace during the third quarter worth about $220,000. 79.00% of the stock is currently owned by hedge funds and other institutional investors.

Centerspace Stock Performance

CSR traded up $0.47 during trading on Thursday, hitting $64.62. The stock had a trading volume of 64,171 shares, compared to its average volume of 104,156. Centerspace has a twelve month low of $54.90 and a twelve month high of $76.16. The firm has a market capitalization of $1.08 billion, a P/E ratio of -50.88 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. The company's 50-day moving average price is $63.06 and its 200 day moving average price is $67.51.

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

Centerspace Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 8th. Shareholders of record on Friday, March 28th will be issued a $0.77 dividend. This is a positive change from Centerspace's previous quarterly dividend of $0.75. The ex-dividend date is Friday, March 28th. This represents a $3.08 annualized dividend and a yield of 4.77%. Centerspace's dividend payout ratio is -242.52%.

Analyst Ratings Changes

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