Centerspace (NYSE:CSR) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC trimmed its position in Centerspace (NYSE:CSR) by 6.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 356,316 shares of the company’s stock after selling 23,000 shares during the period. Renaissance Technologies LLC owned approximately 2.39% of Centerspace worth $24,098,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Texas Permanent School Fund Corp lifted its position in Centerspace by 1.4% in the first quarter. Texas Permanent School Fund Corp now owns 13,174 shares of the company’s stock worth $753,000 after purchasing an additional 176 shares during the period. Daiwa Securities Group Inc. lifted its position in shares of Centerspace by 4.9% during the 1st quarter. Daiwa Securities Group Inc. now owns 4,764 shares of the company’s stock valued at $272,000 after acquiring an additional 222 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in shares of Centerspace by 2.6% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 17,401 shares of the company’s stock valued at $1,177,000 after acquiring an additional 446 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its position in shares of Centerspace by 2.8% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 17,010 shares of the company’s stock valued at $990,000 after acquiring an additional 470 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Centerspace by 0.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 139,188 shares of the company’s stock valued at $9,413,000 after acquiring an additional 605 shares during the last quarter. 79.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CSR has been the subject of a number of recent research reports. Piper Sandler increased their price objective on Centerspace from $64.00 to $75.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Royal Bank of Canada boosted their target price on shares of Centerspace from $72.00 to $73.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. BTIG Research boosted their target price 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 boosted their target price on shares of Centerspace from $75.00 to $82.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $72.29.

Centerspace Trading Down 0.2 %

Centerspace stock opened at $74.19 on Friday. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.04 and a quick ratio of 0.04. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of -92.74, a PEG ratio of 2.15 and a beta of 0.90. Centerspace has a one year low of $46.74 and a one year high of $76.16. The company’s fifty day moving average price is $72.34 and its two-hundred day moving average price is $66.97.

Centerspace (NYSE:CSR) last posted 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). The business had revenue of $65.04 million for the quarter, compared to analyst estimates of $65.90 million. Centerspace had a negative return on equity of 0.67% and a negative net margin of 2.16%. During the same period in the previous year, the company earned $1.28 earnings per share. On average, analysts forecast that Centerspace will post 4.83 earnings per share for the current fiscal year.

Centerspace Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Monday, September 30th will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 4.04%. The ex-dividend date of this dividend is Monday, September 30th. Centerspace’s dividend payout ratio is currently -375.00%.

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.