New York State Common Retirement Fund Increases Stock Holdings in Centerspace (NYSE:CSR)

New York State Common Retirement Fund lifted its stake in shares of Centerspace (NYSE:CSR) by 4.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,692 shares of the company’s stock after buying an additional 527 shares during the period. New York State Common Retirement Fund owned about 0.08% of Centerspace worth $840,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Centerspace by 35.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 579 shares of the company’s stock worth $41,000 after acquiring an additional 150 shares during the period. Loomis Sayles & Co. L P lifted its holdings in Centerspace by 3,131.6% during the third quarter. Loomis Sayles & Co. L P now owns 614 shares of the company’s stock worth $43,000 after acquiring an additional 595 shares during the period. KBC Group NV lifted its holdings in Centerspace by 75.9% during the fourth quarter. KBC Group NV now owns 1,080 shares of the company’s stock worth $71,000 after acquiring an additional 466 shares during the period. Van ECK Associates Corp lifted its holdings in Centerspace by 15.2% during the third 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 period. Finally, Versor Investments LP bought a new stake in Centerspace during the third quarter worth $204,000. Hedge funds and other institutional investors own 79.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Royal Bank of Canada lifted their price target on Centerspace from $72.00 to $73.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. Wedbush began coverage on Centerspace in a research note on Tuesday, December 17th. They set a “neutral” rating and a $72.00 price objective on the stock. Finally, Janney Montgomery Scott upgraded Centerspace from a “neutral” rating to a “buy” rating and set a $72.00 target price for the company in a research report on Wednesday, January 15th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $74.43.

Centerspace Price Performance

CSR opened at $65.95 on Tuesday. The stock has a 50-day moving average price of $62.93 and a 200-day moving average price of $68.71. Centerspace has a 12-month low of $54.50 and a 12-month high of $76.16. The company has a current ratio of 0.04, a quick ratio of 0.05 and a debt-to-equity ratio of 0.74. The stock has a market capitalization of $1.10 billion, a P/E ratio of -51.93 and a beta of 0.90.

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

Centerspace Increases Dividend

The firm also recently declared 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. This is a positive change from Centerspace’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Friday, March 28th. This represents a $3.08 dividend on an annualized basis and a yield of 4.67%. Centerspace’s dividend payout ratio is presently -242.52%.

About Centerspace

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.