Peregrine Capital Management LLC Grows Stock Position in Centerspace (NYSE:CSR)

Peregrine Capital Management LLC boosted its stake in shares of Centerspace (NYSE:CSR - Free Report) by 5.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 90,309 shares of the company's stock after acquiring an additional 4,733 shares during the quarter. Peregrine Capital Management LLC owned about 0.55% of Centerspace worth $5,974,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of CSR. Mirae Asset Global Investments Co. Ltd. increased its stake in Centerspace by 35.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 579 shares of the company's stock valued at $41,000 after buying an additional 150 shares during the period. State of Alaska Department of Revenue lifted its position in Centerspace by 1.3% in the third quarter. State of Alaska Department of Revenue now owns 16,110 shares of the company's stock valued at $1,134,000 after purchasing an additional 208 shares during the period. abrdn plc acquired a new stake in Centerspace in the third quarter valued at about $210,000. Van ECK Associates Corp lifted its position in Centerspace by 15.2% in the third quarter. Van ECK Associates Corp now owns 2,626 shares of the company's stock valued at $186,000 after purchasing an additional 347 shares during the period. Finally, Asset Management One Co. Ltd. lifted its position in Centerspace by 0.7% in the third quarter. Asset Management One Co. Ltd. now owns 23,116 shares of the company's stock valued at $1,629,000 after purchasing an additional 170 shares during the period. 79.00% of the stock is owned by institutional investors and hedge funds.

Centerspace Price Performance

Shares of Centerspace stock traded down $0.97 on Friday, hitting $64.10. The company's stock had a trading volume of 81,197 shares, compared to its average volume of 86,673. The company has a market capitalization of $1.07 billion, a P/E ratio of -50.47 and a beta of 0.90. Centerspace has a 52-week low of $54.50 and a 52-week high of $76.16. The firm has a fifty day moving average price of $63.20 and a 200-day moving average price of $69.05. The company has a quick ratio of 0.05, a current ratio of 0.04 and a debt-to-equity ratio of 0.74.

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, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $65.96 million. On average, equities 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. Shareholders of record on Friday, March 28th will be given a dividend of $0.77 per share. This is an increase 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 4.80%. Centerspace's dividend payout ratio (DPR) is presently -242.52%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on CSR shares. Janney Montgomery Scott raised Centerspace from a "neutral" rating to a "buy" rating and set a $72.00 price objective on the stock in a report on Wednesday, January 15th. Royal Bank of Canada upped their price objective on Centerspace from $72.00 to $73.00 and gave the stock an "outperform" rating in a report on Thursday. Finally, Wedbush assumed coverage on shares of Centerspace in a research note on Tuesday, December 17th. They issued a "neutral" rating and a $72.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $74.43.

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.