State Street Corp Has $63.93 Million Stock Position in Centerspace (NYSE:CSR)

State Street Corp lifted its stake in Centerspace (NYSE:CSR) by 0.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 897,749 shares of the company’s stock after buying an additional 4,263 shares during the period. State Street Corp owned about 5.42% of Centerspace worth $63,931,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. boosted its position 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 buying an additional 150 shares in the last quarter. Loomis Sayles & Co. L P raised its stake in shares of Centerspace by 3,131.6% in the third quarter. Loomis Sayles & Co. L P now owns 614 shares of the company’s stock valued at $43,000 after acquiring an additional 595 shares during the last quarter. Rothschild Investment LLC acquired a new position in shares of Centerspace in the 2nd quarter worth approximately $42,000. Van ECK Associates Corp grew its position in 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 acquiring an additional 347 shares during the last quarter. Finally, Versor Investments LP acquired a new stake in Centerspace during the 3rd quarter valued at $204,000. 79.00% of the stock is owned by institutional investors and hedge funds.

Centerspace Price Performance

Shares of CSR stock opened at $65.71 on Thursday. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.70. Centerspace has a 12 month low of $52.26 and a 12 month high of $76.16. The firm has a market cap of $1.09 billion, a price-to-earnings ratio of -40.81, a PEG ratio of 2.05 and a beta of 0.89. The stock has a 50-day moving average price of $71.08 and a 200 day moving average price of $70.96.

Centerspace (NYSE:CSR) last posted its quarterly earnings results 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 return on equity of 1.72% and a negative net margin of 5.57%. The business had revenue of $65.03 million for the quarter, compared to the consensus estimate of $66.35 million. During the same period last year, the firm earned $1.20 earnings per share. Research analysts expect that Centerspace will post 4.86 EPS for the current year.

Centerspace Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Monday, December 30th will be paid a dividend of $0.75 per share. The ex-dividend date of this dividend is Monday, December 30th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 4.57%. Centerspace’s dividend payout ratio (DPR) is presently -186.34%.

Analyst Upgrades and Downgrades

CSR has been the topic of a number of recent analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $76.00 price objective on shares of Centerspace in a research note on Wednesday, October 30th. Wedbush started coverage on shares of Centerspace in a research report on Tuesday. They set a “neutral” rating and a $72.00 price target on the stock. Finally, Raymond James cut shares of Centerspace from an “outperform” rating to a “market perform” rating in a research report on Monday, October 21st. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Centerspace has a consensus rating of “Hold” and an average target price of $75.33.

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.