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

State Street Corp grew its position in Centerspace (NYSE:CSR) by 0.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 897,749 shares of the company’s stock after purchasing an additional 4,263 shares during the period. State Street Corp owned about 0.05% of Centerspace worth $63,931,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Captrust Financial Advisors acquired a new position in shares of Centerspace in the 3rd quarter valued at approximately $234,000. Intech Investment Management LLC acquired a new position in shares of Centerspace in the third quarter valued at approximately $403,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Centerspace by 9.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 275,511 shares of the company’s stock valued at $19,415,000 after buying an additional 23,839 shares during the period. Millennium Management LLC increased its position in shares of Centerspace by 377.3% during the second quarter. Millennium Management LLC now owns 43,604 shares of the company’s stock worth $2,949,000 after acquiring an additional 34,469 shares in the last quarter. Finally, Cerity Partners LLC acquired a new stake in shares of Centerspace during the third quarter worth $746,000. 79.00% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on CSR shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $76.00 target price on shares of Centerspace in a research note on Wednesday, October 30th. Wedbush started coverage on Centerspace in a report on Tuesday. They set a “neutral” rating and a $72.00 price objective for the company. Finally, Raymond James lowered Centerspace from an “outperform” rating to a “market perform” rating in a research report on Monday, October 21st. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Centerspace has an average rating of “Hold” and an average price target of $75.33.

Centerspace Price Performance

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

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 net margin of 5.57% and a negative return on equity of 1.72%. The company had revenue of $65.03 million during the quarter, compared to the consensus estimate of $66.35 million. During the same quarter in the prior year, the business earned $1.20 earnings per share. As a group, sell-side analysts predict that Centerspace will post 4.86 earnings per share for the current fiscal year.

Centerspace Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Monday, December 30th will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 4.57%. The ex-dividend date of this dividend is Monday, December 30th. Centerspace’s dividend payout ratio is currently -186.34%.

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.