Intech Investment Management LLC Makes New Investment in Centerspace (NYSE:CSR)

Intech Investment Management LLC acquired a new stake in shares of Centerspace (NYSE:CSR) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 5,717 shares of the company’s stock, valued at approximately $403,000.

Several other large investors have also bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its stake in shares of Centerspace by 5.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,191 shares of the company’s stock valued at $697,000 after purchasing an additional 652 shares during the period. Boston Partners bought a new position in shares of Centerspace in the first quarter worth approximately $545,000. Bank of New York Mellon Corp raised 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 purchasing an additional 605 shares during the period. Cambridge Investment Research Advisors Inc. lifted its stake 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 buying an additional 446 shares in the last quarter. Finally, Panagora Asset Management Inc. grew its position in shares of Centerspace by 2.6% during the second quarter. Panagora Asset Management Inc. now owns 27,267 shares of the company’s stock worth $1,844,000 after purchasing an additional 694 shares in the last quarter. 79.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Centerspace Stock Performance

Shares of Centerspace stock opened at $72.39 on Tuesday. The business has a 50-day simple moving average of $71.47 and a 200-day simple moving average of $70.80. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.05 and a current ratio of 0.05. The company has a market cap of $1.20 billion, a PE ratio of -45.02, a P/E/G ratio of 2.13 and a beta of 0.89. Centerspace has a one year low of $52.26 and a one year high of $76.16.

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

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.