6,570 Shares in Centerspace (NYSE:CSR) Acquired by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. acquired a new position in Centerspace (NYSE:CSR - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 6,570 shares of the company's stock, valued at approximately $433,000.

Several other institutional investors also recently bought and sold shares of CSR. Smartleaf Asset Management LLC boosted its position in Centerspace by 370.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 381 shares of the company's stock valued at $25,000 after acquiring an additional 300 shares in the last quarter. KBC Group NV lifted its stake in shares of Centerspace by 75.9% during the 4th quarter. KBC Group NV now owns 1,080 shares of the company's stock worth $71,000 after purchasing an additional 466 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in Centerspace during the fourth quarter valued at about $196,000. Van ECK Associates Corp grew its stake in Centerspace by 19.4% in the fourth quarter. Van ECK Associates Corp now owns 3,135 shares of the company's stock valued at $207,000 after purchasing an additional 509 shares during the last quarter. Finally, Captrust Financial Advisors bought a new position in Centerspace in the third quarter worth about $234,000. 79.00% of the stock is currently owned by hedge funds and other institutional investors.

Centerspace Price Performance

Shares of NYSE:CSR traded down $0.93 during trading on Tuesday, reaching $57.07. 149,389 shares of the company's stock traded hands, compared to its average volume of 110,549. 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 has a fifty-two week low of $54.13 and a fifty-two week high of $76.16. The company has a 50-day simple moving average of $62.72 and a 200-day simple moving average of $66.11. The firm has a market cap of $954.59 million, a PE ratio of -44.94 and a beta of 0.79.

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Centerspace (NYSE:CSR - Get Free Report) last issued 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 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%. As a group, analysts predict that Centerspace will post 4.94 earnings per share for the current year.

Centerspace Increases Dividend

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

Analyst Ratings Changes

A number of brokerages have recently issued reports on CSR. Janney Montgomery Scott raised shares of Centerspace from a "neutral" rating to a "buy" rating and set a $72.00 price objective on the stock in a research report on Wednesday, January 15th. Royal Bank of Canada upped their price target on Centerspace from $72.00 to $73.00 and gave the stock an "outperform" rating in a research report on Thursday, February 20th. Wedbush initiated coverage on Centerspace in a research report on Tuesday, December 17th. They issued a "neutral" rating and a $72.00 price objective for the company. Wells Fargo & Company began coverage on Centerspace in a research report on Wednesday, March 19th. They set an "equal weight" rating and a $68.00 target price on the stock. Finally, UBS Group began coverage on Centerspace in a report on Monday, April 7th. They issued a "neutral" rating and a $67.00 price target for the company. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $73.30.

Centerspace Company 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.