Thrivent Financial for Lutherans Trims Stake in Centerspace (NYSE:CSR)

Thrivent Financial for Lutherans lessened its holdings in shares of Centerspace (NYSE:CSR) by 2.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,015 shares of the company’s stock after selling 364 shares during the period. Thrivent Financial for Lutherans’ holdings in Centerspace were worth $847,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Centerspace by 35.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 579 shares of the company’s stock valued at $41,000 after acquiring an additional 150 shares during the period. Rothschild Investment LLC bought a new stake in shares of Centerspace during the second quarter worth $42,000. Van ECK Associates Corp boosted its stake in shares of Centerspace by 15.2% during the third quarter. Van ECK Associates Corp now owns 2,626 shares of the company’s stock valued at $186,000 after purchasing an additional 347 shares during the period. Versor Investments LP bought a new position in shares of Centerspace in the third quarter worth about $204,000. Finally, Victory Capital Management Inc. purchased a new stake in Centerspace in the 2nd quarter valued at about $209,000. Institutional investors own 79.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on CSR shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $76.00 target price on shares of Centerspace in a research report on Wednesday, October 30th. Raymond James downgraded Centerspace from an “outperform” rating to a “market perform” rating in a report on Monday, October 21st. Finally, BTIG Research upped their target price on Centerspace from $69.00 to $79.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $76.00.

Centerspace Stock Down 1.7 %

Shares of NYSE CSR opened at $71.18 on Wednesday. The company has a 50 day simple moving average of $71.44 and a two-hundred day simple moving average of $70.82. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.05 and a current ratio of 0.05. Centerspace has a 12 month low of $52.26 and a 12 month high of $76.16.

Centerspace (NYSE:CSR) last posted its quarterly earnings results on Monday, October 28th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate of $1.17 by ($1.57). The business had revenue of $65.03 million during the quarter, compared to analysts’ expectations of $66.35 million. Centerspace had a negative net margin of 5.57% and a negative return on equity of 1.72%. During the same period in the previous year, the company posted $1.20 earnings per share. As a group, research analysts expect that Centerspace will post 4.86 earnings per share for the current year.

Centerspace Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Monday, December 30th will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 4.21%. The ex-dividend date is Monday, December 30th. Centerspace’s payout ratio is presently -186.33%.

Centerspace 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.