Quadrature Capital Ltd Makes New $607,000 Investment in Centerspace (NYSE:CSR)

Quadrature Capital Ltd purchased a new position in shares of Centerspace (NYSE:CSR) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 10,424 shares of the company’s stock, valued at approximately $607,000. Quadrature Capital Ltd owned approximately 0.07% of Centerspace at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. ICA Group Wealth Management LLC bought a new stake in shares of Centerspace during the 4th quarter worth about $55,000. Westwood Holdings Group Inc. bought a new stake in shares of Centerspace in the 4th quarter worth approximately $5,238,000. Centersquare Investment Management LLC bought a new stake in shares of Centerspace in the 4th quarter worth approximately $681,000. Cbre Investment Management Listed Real Assets LLC bought a new stake in shares of Centerspace in the 4th quarter worth approximately $1,708,000. Finally, Nomura Asset Management Co. Ltd. raised its holdings in shares of Centerspace by 2.8% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 17,010 shares of the company’s stock worth $990,000 after purchasing an additional 470 shares in the last quarter. 79.00% of the stock is currently owned by institutional investors.

Centerspace Stock Performance

Shares of CSR opened at $67.09 on Friday. The company’s fifty day moving average is $67.32 and its 200-day moving average is $60.15. Centerspace has a 12 month low of $46.74 and a 12 month high of $71.36. The firm has a market cap of $1.00 billion, a price-to-earnings ratio of -83.86, a price-to-earnings-growth ratio of 2.00 and a beta of 0.87. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.77.

Centerspace (NYSE:CSR) last announced its quarterly earnings results on Monday, April 29th. The company reported ($0.37) EPS for the quarter, missing the consensus estimate of $1.12 by ($1.49). Centerspace had a negative return on equity of 0.73% and a negative net margin of 2.38%. The business had revenue of $64.51 million for the quarter, compared to analyst estimates of $65.30 million. During the same quarter last year, the company earned $1.07 EPS. Equities analysts expect that Centerspace will post 4.86 EPS for the current fiscal year.

Centerspace Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 10th. Investors of record on Friday, June 28th will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 4.47%. The ex-dividend date is Friday, June 28th. Centerspace’s dividend payout ratio is currently -375.00%.

Wall Street Analyst Weigh In

A number of research firms recently commented on CSR. Piper Sandler boosted their target price on shares of Centerspace from $63.00 to $64.00 and gave the stock a “neutral” rating in a report on Monday, May 6th. Compass Point downgraded shares of Centerspace from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $65.00 to $68.00 in a report on Friday, May 3rd. Royal Bank of Canada lifted their target price on shares of Centerspace from $66.00 to $68.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. Finally, Raymond James raised shares of Centerspace from a “market perform” rating to an “outperform” rating and set a $75.00 target price on the stock in a research report on Friday, May 24th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Centerspace currently has a consensus rating of “Moderate Buy” and an average target price of $67.57.

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.