Daiwa Securities Group Inc. Raises Position in Centerspace (NYSE:CSR)

Daiwa Securities Group Inc. grew its position in shares of Centerspace (NYSE:CSR) by 8.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,032 shares of the company’s stock after buying an additional 372 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Centerspace were worth $355,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its position in Centerspace by 9.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 275,511 shares of the company’s stock worth $19,415,000 after buying an additional 23,839 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Centerspace by 6.9% in the second quarter. Dimensional Fund Advisors LP now owns 223,770 shares of the company’s stock worth $15,134,000 after acquiring an additional 14,440 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Centerspace by 0.4% during the second quarter. Bank of New York Mellon Corp now owns 139,188 shares of the company’s stock valued at $9,413,000 after purchasing an additional 605 shares during the last quarter. Westwood Holdings Group Inc. lifted its position in Centerspace by 10.8% during the second quarter. Westwood Holdings Group Inc. now owns 99,718 shares of the company’s stock valued at $6,744,000 after purchasing an additional 9,718 shares during the period. Finally, Principal Financial Group Inc. lifted its position in Centerspace by 3.6% during the third quarter. Principal Financial Group Inc. now owns 81,338 shares of the company’s stock valued at $5,732,000 after purchasing an additional 2,852 shares during the period. Institutional investors own 79.00% of the company’s stock.

Centerspace Stock Down 1.1 %

CSR opened at $72.50 on Monday. Centerspace has a 52 week low of $52.26 and a 52 week high of $76.16. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.70. The firm has a 50-day simple moving average of $71.47 and a two-hundred day simple moving average of $70.79. The company has a market capitalization of $1.20 billion, a PE ratio of -45.03, a price-to-earnings-growth ratio of 2.13 and a beta of 0.89.

Centerspace (NYSE:CSR) last released its quarterly earnings results on Monday, October 28th. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of $1.17 by ($1.57). The firm had revenue of $65.03 million for the quarter, compared to analysts’ expectations of $66.35 million. Centerspace had a negative net margin of 5.57% and a negative return on equity of 1.72%. During the same quarter in the prior year, the business earned $1.20 EPS. Analysts forecast that Centerspace will post 4.86 earnings per share for the current fiscal year.

Centerspace Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Monday, September 30th were paid a $0.75 dividend. The ex-dividend date was Monday, September 30th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 4.14%. Centerspace’s payout ratio is currently -186.34%.

Wall Street Analyst Weigh In

CSR has been the subject of a number of research analyst reports. Raymond James downgraded shares of Centerspace from an “outperform” rating to a “market perform” rating in a research report on Monday, October 21st. BTIG Research upped their price objective on Centerspace from $69.00 to $79.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $76.00 target price on shares of Centerspace in a report on Wednesday, October 30th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Centerspace has a consensus rating of “Hold” and an average target price of $76.00.

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.