Cerity Partners LLC Purchases Shares of 10,583 Centerspace (NYSE:CSR)

Cerity Partners LLC purchased a new position in Centerspace (NYSE:CSR) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 10,583 shares of the company’s stock, valued at approximately $746,000. Cerity Partners LLC owned 0.06% of Centerspace as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of CSR. Charles Schwab Investment Management Inc. boosted its position in shares of Centerspace by 9.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 275,511 shares of the company’s stock valued at $19,415,000 after purchasing an additional 23,839 shares in the last quarter. Intech Investment Management LLC acquired a new stake in Centerspace in the third quarter worth $403,000. Quest Partners LLC acquired a new position in Centerspace during the 3rd quarter worth approximately $772,000. WealthPlan Investment Management LLC lifted its holdings in shares of Centerspace by 10.0% in the 3rd quarter. WealthPlan Investment Management LLC now owns 4,394 shares of the company’s stock worth $310,000 after purchasing an additional 398 shares in the last quarter. Finally, Versor Investments LP bought a new stake in shares of Centerspace during the third quarter worth about $204,000. 79.00% of the stock is owned by institutional investors.

Centerspace Stock Performance

Shares of CSR opened at $70.23 on Friday. Centerspace has a 52-week low of $52.26 and a 52-week high of $76.16. 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 stock has a market capitalization of $1.16 billion, a price-to-earnings ratio of -43.80, a price-to-earnings-growth ratio of 2.09 and a beta of 0.89. The stock’s 50-day simple moving average is $71.36 and its 200 day simple moving average is $70.83.

Centerspace (NYSE:CSR) last announced its earnings results on Monday, October 28th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.17 by ($1.57). Centerspace had a negative return on equity of 1.72% and a negative net margin of 5.57%. The company had revenue of $65.03 million during the quarter, compared to analysts’ expectations of $66.35 million. During the same quarter last year, the firm posted $1.20 earnings per share. Research analysts forecast 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 Monday, January 13th. Stockholders of record on Monday, December 30th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 4.27%. The ex-dividend date is Monday, December 30th. Centerspace’s dividend payout ratio (DPR) is -186.34%.

Wall Street Analysts Forecast Growth

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