Van ECK Associates Corp Acquires 509 Shares of Centerspace (NYSE:CSR)

Van ECK Associates Corp raised its holdings in Centerspace (NYSE:CSR) by 19.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,135 shares of the company’s stock after purchasing an additional 509 shares during the quarter. Van ECK Associates Corp’s holdings in Centerspace were worth $207,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of CSR. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Centerspace by 35.0% in the 3rd 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 during the period. State of Alaska Department of Revenue increased its stake in shares of Centerspace by 1.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 16,110 shares of the company’s stock valued at $1,134,000 after buying an additional 208 shares during the period. abrdn plc acquired a new stake in shares of Centerspace in the 3rd quarter valued at $210,000. Asset Management One Co. Ltd. increased its stake in shares of Centerspace by 0.7% in the 3rd quarter. Asset Management One Co. Ltd. now owns 23,116 shares of the company’s stock valued at $1,629,000 after buying an additional 170 shares during the period. Finally, Principal Financial Group Inc. increased its stake in shares of Centerspace by 3.6% in the 3rd quarter. Principal Financial Group Inc. now owns 81,338 shares of the company’s stock valued at $5,732,000 after buying an additional 2,852 shares during the period. Institutional investors own 79.00% of the company’s stock.

Centerspace Stock Down 1.5 %

Shares of Centerspace stock opened at $64.10 on Monday. 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 has a 12 month low of $54.50 and a 12 month high of $76.16. The business has a fifty day simple moving average of $63.10 and a 200 day simple moving average of $69.01. The stock has a market cap of $1.07 billion, a PE ratio of -50.47 and a beta of 0.90.

Centerspace (NYSE:CSR) last announced its quarterly earnings data on Tuesday, February 18th. The company reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $1.36. Centerspace had a negative return on equity of 1.34% and a negative net margin of 4.34%. The business had revenue of $66.41 million during the quarter, compared to analysts’ expectations of $65.96 million. Research analysts predict that Centerspace will post 4.94 EPS 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 paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 4.80%. This is a boost from Centerspace’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Friday, March 28th. Centerspace’s payout ratio is presently -236.22%.

Analyst Ratings Changes

CSR has been the subject of several research reports. Wedbush initiated coverage on Centerspace in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $72.00 target price for the company. Janney Montgomery Scott raised Centerspace from a “neutral” rating to a “buy” rating and set a $72.00 target price for the company in a research note on Wednesday, January 15th. Finally, Royal Bank of Canada lifted their target price on Centerspace from $72.00 to $73.00 and gave the company an “outperform” rating in a research note on Thursday. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target 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.