Centerspace (NYSE:CSR) Position Boosted by Wellington Management Group LLP

Wellington Management Group LLP lifted its position in shares of Centerspace (NYSE:CSR - Free Report) by 6.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,019,353 shares of the company's stock after buying an additional 61,394 shares during the quarter. Wellington Management Group LLP owned approximately 6.15% of Centerspace worth $71,834,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of CSR. Intech Investment Management LLC acquired a new position in Centerspace in the third quarter valued at $403,000. Price T Rowe Associates Inc. MD grew its holdings in Centerspace by 5.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,191 shares of the company's stock valued at $697,000 after buying an additional 652 shares during the period. Millennium Management LLC increased its stake in shares of Centerspace by 377.3% during the 2nd quarter. Millennium Management LLC now owns 43,604 shares of the company's stock valued at $2,949,000 after acquiring an additional 34,469 shares during the last quarter. Cerity Partners LLC purchased a new position in shares of Centerspace during the 3rd quarter worth about $746,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Centerspace by 9.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 275,511 shares of the company's stock worth $19,415,000 after acquiring an additional 23,839 shares during the last quarter. Institutional investors and hedge funds own 79.00% of the company's stock.

Centerspace Stock Down 0.1 %

Shares of CSR stock traded down $0.06 on Wednesday, hitting $69.74. The stock had a trading volume of 80,139 shares, compared to its average volume of 104,301. The stock's 50 day moving average is $71.28 and its 200-day moving average is $70.92. The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of -43.39, a P/E/G ratio of 2.06 and a beta of 0.89. Centerspace has a 52-week low of $52.26 and a 52-week high of $76.16. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.05 and a current ratio of 0.05.

Centerspace (NYSE:CSR - Get Free Report) last issued its quarterly earnings data on Monday, October 28th. The company reported ($0.40) EPS for the quarter, missing analysts' consensus estimates of $1.17 by ($1.57). The firm had revenue of $65.03 million during the quarter, compared to analyst estimates of $66.35 million. Centerspace had a negative return on equity of 1.72% and a negative net margin of 5.57%. During the same quarter in the prior year, the firm earned $1.20 EPS. As a group, research analysts expect that Centerspace will post 4.86 earnings per share for the current year.

Centerspace Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Monday, December 30th will be paid a dividend of $0.75 per share. The ex-dividend date of this dividend is Monday, December 30th. This represents a $3.00 dividend on an annualized basis and a yield of 4.30%. Centerspace's dividend payout ratio (DPR) is presently -186.34%.

Analysts Set New Price Targets

Several brokerages recently commented on CSR. Royal Bank of Canada reaffirmed an "outperform" rating and set a $76.00 price target on shares of Centerspace in a research report on Wednesday, October 30th. Raymond James downgraded Centerspace from an "outperform" rating to a "market perform" rating in a report on Monday, October 21st. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $76.00.

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.