5,688 Shares in Centerspace (NYSE:CSR) Purchased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC acquired a new position in Centerspace (NYSE:CSR) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 5,688 shares of the company’s stock, valued at approximately $370,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. raised its stake in Centerspace by 35.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 579 shares of the company’s stock valued at $41,000 after purchasing an additional 150 shares in the last quarter. Loomis Sayles & Co. L P boosted its stake 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 valued at $43,000 after purchasing an additional 595 shares in the last quarter. KBC Group NV increased its stake in shares of Centerspace by 75.9% in the 4th quarter. KBC Group NV now owns 1,080 shares of the company’s stock worth $71,000 after acquiring an additional 466 shares in the last quarter. Van ECK Associates Corp lifted its stake in shares of Centerspace by 15.2% in the third quarter. Van ECK Associates Corp now owns 2,626 shares of the company’s stock worth $186,000 after buying an additional 347 shares in the last quarter. Finally, Versor Investments LP bought a new stake in shares of Centerspace in the third quarter worth approximately $204,000. 79.00% of the stock is currently owned by institutional investors.

Centerspace Stock Performance

Shares of Centerspace stock opened at $65.20 on Wednesday. Centerspace has a 52 week low of $54.50 and a 52 week high of $76.16. The business’s fifty day simple moving average is $62.94 and its 200-day simple moving average is $68.92. The firm has a market cap of $1.09 billion, a PE ratio of -51.34 and a beta of 0.90. The company has a quick ratio of 0.05, a current ratio of 0.04 and a debt-to-equity ratio of 0.74.

Centerspace (NYSE:CSR) last released its quarterly earnings data on Tuesday, February 18th. The company reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $1.36. Centerspace had a negative net margin of 4.34% and a negative return on equity of 1.34%. The company had revenue of $66.41 million during the quarter, compared to the consensus estimate of $65.96 million. Equities analysts forecast that Centerspace will post 4.94 earnings per share for the current year.

Centerspace Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 8th. Shareholders of record on Friday, March 28th will be given a dividend of $0.77 per share. The ex-dividend date is Friday, March 28th. This represents a $3.08 dividend on an annualized basis and a yield of 4.72%. This is a boost from Centerspace’s previous quarterly dividend of $0.75. Centerspace’s payout ratio is presently -242.52%.

Analyst Upgrades and Downgrades

A number of research firms have commented on CSR. Royal Bank of Canada raised their target price on shares of Centerspace from $72.00 to $73.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Janney Montgomery Scott raised shares of Centerspace from a “neutral” rating to a “buy” rating and set a $72.00 price target on the stock in a research note on Wednesday, January 15th. Finally, Wedbush began coverage on shares of Centerspace in a research report on Tuesday, December 17th. They set a “neutral” rating and a $72.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Centerspace presently has a consensus rating of “Hold” and an average target price of $74.43.

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.