Nomura Asset Management Co. Ltd. Increases Stock Position in Centerspace (NYSE:CSR)

Nomura Asset Management Co. Ltd. raised its position in Centerspace (NYSE:CSR - Free Report) by 21.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,150 shares of the company's stock after purchasing an additional 3,880 shares during the period. Nomura Asset Management Co. Ltd. owned 0.13% of Centerspace worth $1,465,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Smartleaf Asset Management LLC grew its position in Centerspace by 370.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 381 shares of the company's stock valued at $25,000 after acquiring an additional 300 shares during the last quarter. KBC Group NV increased its holdings in shares of Centerspace by 75.9% in the fourth quarter. KBC Group NV now owns 1,080 shares of the company's stock worth $71,000 after buying an additional 466 shares during the period. KLP Kapitalforvaltning AS purchased a new position in Centerspace in the 4th quarter worth approximately $196,000. Van ECK Associates Corp increased its stake in shares of Centerspace by 19.4% in the fourth quarter. Van ECK Associates Corp now owns 3,135 shares of the company's stock worth $207,000 after buying an additional 509 shares during the period. Finally, Systematic Financial Management LP bought a new position in shares of Centerspace during the third quarter valued at about $220,000. Hedge funds and other institutional investors own 79.00% of the company's stock.

Wall Street Analysts Forecast Growth

CSR has been the topic of several recent analyst reports. Janney Montgomery Scott upgraded shares of Centerspace from a "neutral" rating to a "buy" rating and set a $72.00 price target on the stock in a report on Wednesday, January 15th. 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 target price for the company in a research report on Friday. Royal Bank of Canada lifted their price target on Centerspace from $72.00 to $73.00 and gave the company an "outperform" rating in a research report on Thursday, February 20th. Finally, Wedbush initiated coverage on Centerspace in a research note on Tuesday, December 17th. They issued a "neutral" rating and a $72.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $74.00.

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Centerspace Stock Down 2.8 %

NYSE:CSR traded down $1.76 during trading hours on Friday, reaching $60.14. 129,503 shares of the company traded hands, compared to its average volume of 110,741. The company has a current ratio of 0.04, a quick ratio of 0.05 and a debt-to-equity ratio of 0.74. The business's 50-day moving average price is $63.37 and its two-hundred day moving average price is $67.05. Centerspace has a 1 year low of $55.10 and a 1 year high of $76.16. The stock has a market capitalization of $1.01 billion, a P/E ratio of -47.35 and a beta of 0.79.

Centerspace (NYSE:CSR - Get Free Report) last announced its quarterly earnings results on Tuesday, February 18th. The company reported $1.21 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.15) by $1.36. The company had revenue of $66.41 million for the quarter, compared to analysts' expectations of $65.96 million. Centerspace had a negative net margin of 4.34% and a negative return on equity of 1.34%. Analysts predict that Centerspace will post 4.94 earnings per share for the current year.

Centerspace Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 8th. Investors 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. This represents a $3.08 dividend on an annualized basis and a yield of 5.12%. The ex-dividend date of this dividend is Friday, March 28th. Centerspace's payout ratio is presently -242.52%.

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.