Renaissance Technologies LLC Cuts Stake in Centerspace (NYSE:CSR)

Renaissance Technologies LLC reduced its position in Centerspace (NYSE:CSR - Free Report) by 2.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 328,954 shares of the company's stock after selling 8,162 shares during the period. Renaissance Technologies LLC owned about 1.99% of Centerspace worth $21,760,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Smartleaf Asset Management LLC boosted its position in Centerspace by 370.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 381 shares of the company's stock worth $25,000 after purchasing an additional 300 shares during the period. KBC Group NV grew its stake in Centerspace by 75.9% in the 4th quarter. KBC Group NV now owns 1,080 shares of the company's stock valued at $71,000 after buying an additional 466 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Centerspace during the fourth quarter worth approximately $196,000. Van ECK Associates Corp boosted 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 acquiring an additional 509 shares during the period. Finally, Captrust Financial Advisors acquired a new position in shares of Centerspace in the third quarter valued at approximately $234,000. 79.00% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. UBS Group began coverage on shares of Centerspace in a research note on Monday, April 7th. They issued a "neutral" rating and a $67.00 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 price target on the stock. Janney Montgomery Scott raised shares of Centerspace from a "neutral" rating to a "buy" rating and set a $72.00 price objective for the company in a research note on Wednesday, January 15th. Royal Bank of Canada upped 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, BMO Capital Markets upgraded shares of Centerspace from a "market perform" rating to an "outperform" rating and set a $77.00 target price on the stock in a report on Friday, April 4th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, Centerspace has a consensus rating of "Hold" and a consensus target price of $73.30.

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Centerspace Price Performance

Shares of Centerspace stock traded down $0.93 on Tuesday, hitting $57.07. 149,389 shares of the company traded hands, compared to its average volume of 110,467. Centerspace has a 12-month low of $54.13 and a 12-month high of $76.16. 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 firm's 50-day simple moving average is $62.62 and its 200 day simple moving average is $66.05. The company has a market cap of $954.59 million, a P/E ratio of -44.94 and a beta of 0.79.

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

Centerspace Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 8th. Investors of record on Friday, March 28th were issued a $0.77 dividend. The ex-dividend date of this dividend was Friday, March 28th. This represents a $3.08 annualized dividend and a yield of 5.40%. This is a boost from Centerspace's previous quarterly dividend of $0.75. Centerspace's dividend payout ratio (DPR) is currently -242.52%.

Centerspace Profile

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.