Daiwa Securities Group Inc. Buys 222 Shares of Centerspace (NYSE:CSR)

Daiwa Securities Group Inc. grew its stake in Centerspace (NYSE:CSR) by 4.9% during the 1st quarter, HoldingsChannel reports. The fund owned 4,764 shares of the company’s stock after purchasing an additional 222 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Centerspace were worth $272,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. ICA Group Wealth Management LLC purchased a new position in shares of Centerspace in the 4th quarter worth about $55,000. Van ECK Associates Corp lifted its stake in shares of Centerspace by 19.7% in the fourth quarter. Van ECK Associates Corp now owns 2,118 shares of the company’s stock worth $123,000 after buying an additional 348 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Centerspace during the fourth quarter valued at approximately $149,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Centerspace during the first quarter valued at approximately $173,000. Finally, BTC Capital Management Inc. purchased a new position in Centerspace in the 1st quarter worth approximately $279,000. 79.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CSR has been the topic of several recent analyst reports. Piper Sandler increased their target price on Centerspace from $63.00 to $64.00 and gave the company a “neutral” rating in a research note on Monday, May 6th. Royal Bank of Canada upped their price target on Centerspace from $66.00 to $68.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. Compass Point downgraded Centerspace from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $65.00 to $68.00 in a report on Friday, May 3rd. Finally, Raymond James raised Centerspace from a “market perform” rating to an “outperform” rating and set a $75.00 target price for the company in a research report on Friday, May 24th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $67.57.

Centerspace Stock Performance

Shares of CSR opened at $69.63 on Friday. Centerspace has a one year low of $46.74 and a one year high of $71.36. The business has a fifty day moving average of $68.28 and a 200 day moving average of $61.33. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.04 and a quick ratio of 0.04. The firm has a market capitalization of $1.04 billion, a P/E ratio of -87.04, a PEG ratio of 2.03 and a beta of 0.88.

Centerspace (NYSE:CSR) last released its quarterly earnings results on Monday, April 29th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.12 by ($1.49). Centerspace had a negative net margin of 2.38% and a negative return on equity of 0.73%. The firm had revenue of $64.51 million for the quarter, compared to the consensus estimate of $65.30 million. During the same quarter in the prior year, the firm earned $1.07 earnings per share. As a group, sell-side analysts anticipate that Centerspace will post 4.86 EPS for the current year.

Centerspace Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 10th. Shareholders of record on Friday, June 28th were given a $0.75 dividend. The ex-dividend date was Friday, June 28th. This represents a $3.00 annualized dividend and a yield of 4.31%. Centerspace’s payout ratio is presently -375.00%.

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.