Centerspace (NYSE:CSR) Position Lessened by Rhumbline Advisers

Rhumbline Advisers lessened its holdings in shares of Centerspace (NYSE:CSR) by 0.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 51,492 shares of the company’s stock after selling 306 shares during the period. Rhumbline Advisers owned 0.34% of Centerspace worth $3,482,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Janus Henderson Group PLC grew its holdings in shares of Centerspace by 1,438.2% during the 1st quarter. Janus Henderson Group PLC now owns 97,940 shares of the company’s stock valued at $5,597,000 after acquiring an additional 91,573 shares in the last quarter. Westwood Holdings Group Inc. acquired a new stake in Centerspace during the fourth quarter valued at approximately $5,238,000. Cbre Investment Management Listed Real Assets LLC bought a new stake in shares of Centerspace in the 4th quarter worth about $1,708,000. Panagora Asset Management Inc. increased its holdings in Centerspace by 181.8% during the 4th quarter. Panagora Asset Management Inc. now owns 41,413 shares of the company’s stock valued at $2,410,000 after purchasing an additional 26,716 shares in the last quarter. Finally, Centersquare Investment Management LLC acquired a new stake in Centerspace in the 4th quarter valued at about $681,000. 79.00% of the stock is owned by institutional investors.

Centerspace Stock Up 0.1 %

Shares of NYSE:CSR opened at $73.93 on Wednesday. The business’s 50 day simple moving average is $72.23 and its two-hundred day simple moving average is $66.91. Centerspace has a 52-week low of $46.74 and a 52-week high of $76.16. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.04 and a current ratio of 0.04. The firm has a market cap of $1.10 billion, a P/E ratio of -92.41, a PEG ratio of 2.15 and a beta of 0.90.

Centerspace (NYSE:CSR) last announced its earnings results on Monday, July 29th. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of $1.20 by ($1.39). Centerspace had a negative net margin of 2.16% and a negative return on equity of 0.67%. The firm had revenue of $65.04 million during the quarter, compared to analysts’ expectations of $65.90 million. During the same quarter in the prior year, the company earned $1.28 EPS. As a group, research analysts forecast that Centerspace will post 4.83 EPS for the current fiscal year.

Centerspace Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.75 per share. The ex-dividend date is Monday, September 30th. This represents a $3.00 annualized dividend and a dividend yield of 4.06%. Centerspace’s payout ratio is currently -375.00%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on CSR shares. Royal Bank of Canada lifted their price objective on shares of Centerspace from $72.00 to $73.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Piper Sandler boosted their price target on shares of Centerspace from $64.00 to $75.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. BTIG Research increased their price target on shares of Centerspace from $69.00 to $79.00 and gave the company a “buy” rating in a research note on Monday, August 12th. Finally, Raymond James lifted their target price on Centerspace from $75.00 to $82.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Centerspace has a consensus rating of “Moderate Buy” and a consensus target price of $72.29.

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.