The Manufacturers Life Insurance Company Sells 177 Shares of Centerspace (NYSE:CSR)

The Manufacturers Life Insurance Company lessened its stake in shares of Centerspace (NYSE:CSR) by 3.1% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 5,559 shares of the company’s stock after selling 177 shares during the period. The Manufacturers Life Insurance Company’s holdings in Centerspace were worth $392,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in CSR. Bank of New York Mellon Corp lifted its position in shares of Centerspace by 0.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 139,188 shares of the company’s stock worth $9,413,000 after purchasing an additional 605 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in shares of Centerspace by 2.6% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 17,401 shares of the company’s stock worth $1,177,000 after purchasing an additional 446 shares during the last quarter. Panagora Asset Management Inc. lifted its position in shares of Centerspace by 2.6% during the 2nd quarter. Panagora Asset Management Inc. now owns 27,267 shares of the company’s stock worth $1,844,000 after purchasing an additional 694 shares during the last quarter. Rothschild Investment LLC acquired a new position in Centerspace in the 2nd quarter valued at approximately $42,000. Finally, Capital Square LLC raised its holdings in Centerspace by 18.2% in the 2nd quarter. Capital Square LLC now owns 7,339 shares of the company’s stock valued at $518,000 after acquiring an additional 1,128 shares in the last quarter. Institutional investors own 79.00% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on CSR shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $76.00 price target on shares of Centerspace in a report on Wednesday, October 30th. Raymond James cut Centerspace from an “outperform” rating to a “market perform” rating in a report on Monday, October 21st. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $76.00.

Centerspace Stock Down 0.7 %

NYSE CSR opened at $69.45 on Monday. The firm has a market cap of $1.15 billion, a PE ratio of -43.14, a price-to-earnings-growth ratio of 2.05 and a beta of 0.89. 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 stock’s 50 day simple moving average is $71.21 and its 200 day simple moving average is $70.98. Centerspace has a one year low of $52.26 and a one year 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 (EPS) for the quarter, missing the consensus estimate of $1.17 by ($1.57). The company had revenue of $65.03 million during the quarter, compared to the consensus estimate of $66.35 million. Centerspace had a negative return on equity of 1.72% and a negative net margin of 5.57%. During the same quarter in the prior year, the business earned $1.20 earnings per share. As a group, sell-side analysts forecast that Centerspace will post 4.86 earnings per share for the current fiscal year.

Centerspace Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Monday, December 30th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 4.32%. The ex-dividend date of this dividend is Monday, December 30th. Centerspace’s payout ratio is presently -186.34%.

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.