Pensionfund DSM Netherlands Sells 4,000 Shares of Centerspace (NYSE:CSR)

Pensionfund DSM Netherlands reduced its stake in Centerspace (NYSE:CSR) by 21.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,280 shares of the company’s stock after selling 4,000 shares during the quarter. Pensionfund DSM Netherlands owned about 0.09% of Centerspace worth $945,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in CSR. Mirae Asset Global Investments Co. Ltd. raised its stake in Centerspace by 35.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 579 shares of the company’s stock valued at $41,000 after purchasing an additional 150 shares in the last quarter. Asset Management One Co. Ltd. lifted its holdings in shares of Centerspace by 0.7% during the 3rd quarter. Asset Management One Co. Ltd. now owns 23,116 shares of the company’s stock worth $1,629,000 after acquiring an additional 170 shares during the period. The Manufacturers Life Insurance Company boosted 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 acquiring an additional 171 shares in the last quarter. State of Alaska Department of Revenue increased its stake in Centerspace by 1.3% in the third quarter. State of Alaska Department of Revenue now owns 16,110 shares of the company’s stock valued at $1,134,000 after acquiring an additional 208 shares during the last quarter. Finally, MetLife Investment Management LLC raised its position in Centerspace by 3.4% during the third quarter. MetLife Investment Management LLC now owns 9,091 shares of the company’s stock valued at $641,000 after purchasing an additional 303 shares in the last quarter. 79.00% of the stock is owned by institutional investors and hedge funds.

Centerspace Trading Down 0.9 %

Shares of Centerspace stock traded down $0.58 during midday trading on Monday, reaching $64.98. The company had a trading volume of 3,477 shares, compared to its average volume of 40,023. The firm has a market cap of $1.08 billion, a PE ratio of -40.36, a P/E/G ratio of 2.04 and a beta of 0.91. The stock has a fifty day moving average price of $69.95 and a 200 day moving average price of $70.81. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.05 and a quick ratio of 0.05. 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 the consensus estimate 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 for the quarter, compared to the consensus estimate of $66.35 million. During the same quarter in the previous year, the company posted $1.20 EPS. On average, equities analysts anticipate that Centerspace will post 4.86 earnings per share for the current year.

Centerspace Announces Dividend

The company also recently announced 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. The ex-dividend date is Monday, December 30th. This represents a $3.00 annualized dividend and a dividend yield of 4.62%. Centerspace’s payout ratio is presently -186.34%.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $76.00 target price on shares of Centerspace in a report on Wednesday, October 30th. Wedbush started coverage on Centerspace in a report on Tuesday, December 17th. They set a “neutral” rating and a $72.00 price objective on the stock. Finally, Raymond James cut Centerspace from an “outperform” rating to a “market perform” rating in a report on Monday, October 21st. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Centerspace presently has a consensus rating of “Hold” and an average price target of $75.33.

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.