Wellington Management Group LLP Has $53.18 Million Stock Holdings in Centerspace (NYSE:CSR)

Wellington Management Group LLP trimmed its stake in shares of Centerspace (NYSE:CSR - Free Report) by 21.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 803,971 shares of the company's stock after selling 215,382 shares during the period. Wellington Management Group LLP owned approximately 4.85% of Centerspace worth $53,183,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of CSR. Smartleaf Asset Management LLC increased its stake in Centerspace by 370.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 381 shares of the company's stock valued at $25,000 after purchasing an additional 300 shares in the last quarter. KBC Group NV increased its position in shares of Centerspace by 75.9% during the fourth quarter. KBC Group NV now owns 1,080 shares of the company's stock worth $71,000 after acquiring an additional 466 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of Centerspace during the fourth quarter worth $196,000. Van ECK Associates Corp boosted its holdings in 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 purchasing an additional 509 shares during the last quarter. Finally, Systematic Financial Management LP acquired a new position in Centerspace during the third quarter worth $220,000. 79.00% of the stock is owned by institutional investors.

Centerspace Trading Down 2.2 %

CSR traded down $1.27 during trading on Thursday, reaching $57.17. 10,693 shares of the company's stock were exchanged, compared to its average volume of 110,941. Centerspace has a one year low of $54.13 and a one year 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 stock has a market capitalization of $956.23 million, a PE ratio of -45.05 and a beta of 0.79. The firm has a fifty day moving average price of $62.97 and a two-hundred day moving average price of $66.47.

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Centerspace (NYSE:CSR - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The company reported $1.21 EPS for the quarter, beating analysts' consensus estimates 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 analyst estimates of $65.96 million. As a group, equities research analysts forecast 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 given a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 5.39%. The ex-dividend date of this dividend was Friday, March 28th. This is an increase from Centerspace's previous quarterly dividend of $0.75. Centerspace's payout ratio is presently -242.52%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on CSR shares. Royal Bank of Canada increased their price target on shares of Centerspace from $72.00 to $73.00 and gave the company an "outperform" rating in a research note on Thursday, February 20th. Wedbush initiated coverage on shares of Centerspace in a research report on Tuesday, December 17th. They issued a "neutral" rating and a $72.00 price objective on the stock. BMO Capital Markets raised shares of Centerspace from a "market perform" rating to an "outperform" rating and set a $77.00 price target on the stock in a research report on Friday, April 4th. UBS Group assumed coverage on shares of Centerspace in a report on Monday. They issued a "neutral" rating and a $67.00 target price on the stock. Finally, Janney Montgomery Scott raised shares of Centerspace from a "neutral" rating to a "buy" rating and set a $72.00 target price on the stock in a report on Wednesday, January 15th. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Centerspace has an average rating of "Hold" and an average target price 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.