Quest Partners LLC Makes New Investment in Centerspace (NYSE:CSR)

Quest Partners LLC acquired a new stake in shares of Centerspace (NYSE:CSR) during the third quarter, HoldingsChannel.com reports. The fund acquired 10,959 shares of the company’s stock, valued at approximately $772,000.

Other hedge funds have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. lifted its position in Centerspace by 35.0% during the 3rd 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 last quarter. Asset Management One Co. Ltd. increased its stake in shares of Centerspace by 0.7% in the third quarter. Asset Management One Co. Ltd. now owns 23,116 shares of the company’s stock worth $1,629,000 after purchasing an additional 170 shares during the period. The Manufacturers Life Insurance Company lifted its position in shares of Centerspace by 3.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,736 shares of the company’s stock worth $388,000 after purchasing an additional 171 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in Centerspace by 1.3% during 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 purchasing an additional 208 shares during the period. Finally, Van ECK Associates Corp increased its position in Centerspace by 15.2% in the 3rd quarter. Van ECK Associates Corp now owns 2,626 shares of the company’s stock worth $186,000 after buying an additional 347 shares during the period. Institutional investors and hedge funds own 79.00% of the company’s stock.

Centerspace Stock Up 0.7 %

Shares of NYSE:CSR opened at $73.03 on Friday. The company has a market capitalization of $1.21 billion, a PE ratio of -45.36, a P/E/G ratio of 2.16 and a beta of 0.89. Centerspace has a 52 week low of $52.26 and a 52 week high of $76.16. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.05 and a current ratio of 0.05. The company’s fifty day moving average is $71.59 and its 200-day moving average is $70.65.

Centerspace (NYSE:CSR) last announced its quarterly earnings data on Monday, October 28th. The company reported ($0.40) EPS 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 firm had revenue of $65.03 million during the quarter, compared to the consensus estimate of $66.35 million. During the same quarter in the previous year, the business posted $1.20 earnings per share. Equities research analysts predict that Centerspace will post 4.85 earnings per share for the current fiscal year.

Centerspace Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Monday, September 30th were paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 4.11%. The ex-dividend date was Monday, September 30th. Centerspace’s payout ratio is -186.33%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on CSR shares. Royal Bank of Canada reissued an “outperform” rating and issued a $76.00 price objective on shares of Centerspace in a research report on Wednesday, October 30th. Piper Sandler raised their price target on shares of Centerspace from $64.00 to $75.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Raymond James lowered shares of Centerspace from an “outperform” rating to a “market perform” rating in a research report on Monday, October 21st. Finally, BTIG Research increased their target price on shares of Centerspace from $69.00 to $79.00 and gave the company a “buy” rating in a research note on Monday, August 12th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $76.00.

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.