Centerspace (NYSE:CSR) Stock Holdings Lifted by Bank of New York Mellon Corp

Bank of New York Mellon Corp boosted its position in Centerspace (NYSE:CSR) by 3.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 126,121 shares of the company’s stock after purchasing an additional 3,645 shares during the quarter. Bank of New York Mellon Corp owned about 0.76% of Centerspace worth $8,343,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Loomis Sayles & Co. L P lifted its position in Centerspace by 3,131.6% in 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 during the last quarter. KBC Group NV lifted its position in Centerspace by 75.9% in the 4th quarter. KBC Group NV now owns 1,080 shares of the company’s stock valued at $71,000 after purchasing an additional 466 shares during the last quarter. Versor Investments LP bought a new stake in Centerspace in the 3rd quarter valued at about $204,000. Systematic Financial Management LP bought a new stake in Centerspace in the 3rd quarter valued at about $220,000. Finally, Van ECK Associates Corp lifted its position in Centerspace by 19.4% in the 4th quarter. Van ECK Associates Corp now owns 3,135 shares of the company’s stock valued at $207,000 after purchasing an additional 509 shares during the last quarter. 79.00% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on CSR shares. Janney Montgomery Scott upgraded shares of Centerspace from a “neutral” rating to a “buy” rating and set a $72.00 price objective on the stock in a research report on Wednesday, January 15th. Royal Bank of Canada boosted their price target on shares of Centerspace from $72.00 to $73.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. 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 price target on the stock. Four research 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.com, the stock currently has an average rating of “Hold” and an average target price of $74.43.

Centerspace Stock Up 1.9 %

CSR stock opened at $63.07 on Friday. Centerspace has a 52 week low of $54.50 and a 52 week high of $76.16. The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of -49.66 and a beta of 0.91. The firm’s 50-day moving average is $62.63 and its two-hundred day moving average is $68.15. The company has a current ratio of 0.04, a quick ratio of 0.05 and a debt-to-equity ratio of 0.74.

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

Centerspace Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 8th. Stockholders of record on Friday, March 28th will be paid a $0.77 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $3.08 annualized dividend and a dividend yield of 4.88%. This is a boost from Centerspace’s previous quarterly dividend of $0.75. Centerspace’s payout ratio is currently -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.