Louisiana State Employees Retirement System Raises Stake in Centerspace (NYSE:CSR)

Louisiana State Employees Retirement System grew its stake in shares of Centerspace (NYSE:CSR) by 8.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,000 shares of the company’s stock after purchasing an additional 600 shares during the period. Louisiana State Employees Retirement System’s holdings in Centerspace were worth $529,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in CSR. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Centerspace by 35.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 579 shares of the company’s stock worth $41,000 after purchasing an additional 150 shares in the last quarter. Loomis Sayles & Co. L P boosted its position in shares of Centerspace by 3,131.6% during the 3rd quarter. Loomis Sayles & Co. L P now owns 614 shares of the company’s stock worth $43,000 after purchasing an additional 595 shares in the last quarter. KBC Group NV boosted its position in shares of Centerspace by 75.9% during the 4th quarter. KBC Group NV now owns 1,080 shares of the company’s stock worth $71,000 after purchasing an additional 466 shares in the last quarter. Van ECK Associates Corp boosted its position in shares of Centerspace by 15.2% during the 3rd quarter. Van ECK Associates Corp now owns 2,626 shares of the company’s stock worth $186,000 after purchasing an additional 347 shares in the last quarter. Finally, Versor Investments LP acquired a new position in shares of Centerspace during the 3rd quarter worth $204,000. 79.00% of the stock is currently owned by hedge funds and other institutional investors.

Centerspace Trading Up 0.1 %

Shares of CSR stock opened at $62.42 on Wednesday. The firm has a 50-day moving average price of $63.42 and a 200 day moving average price of $69.12. Centerspace has a twelve month low of $54.22 and a twelve month high of $76.16. The company has a market capitalization of $1.03 billion, a price-to-earnings ratio of -38.77 and a beta of 0.90. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.70.

Centerspace (NYSE:CSR) last announced its earnings results on Tuesday, February 18th. The company reported $1.21 earnings per share for the quarter, beating the consensus estimate of ($0.15) by $1.36. Centerspace had a negative net margin of 5.57% and a negative return on equity of 1.72%. Research analysts forecast that Centerspace will post 4.85 earnings per share for the current fiscal year.

Centerspace Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Monday, December 30th were paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 4.81%. The ex-dividend date was Monday, December 30th. Centerspace’s dividend payout ratio is currently -186.33%.

Wall Street Analyst Weigh In

CSR has been the subject of several research reports. Janney Montgomery Scott raised Centerspace from a “neutral” rating to a “buy” rating and set a $72.00 price target for the company in a research note on Wednesday, January 15th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $76.00 price target on shares of Centerspace in a research note on Wednesday, October 30th. Finally, Wedbush initiated coverage on Centerspace in a research note on Tuesday, December 17th. They set a “neutral” rating and a $72.00 price target for the company. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Centerspace currently has an average rating of “Hold” and a consensus target price of $74.86.

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.