Intech Investment Management LLC Grows Stock Holdings in Centerspace (NYSE:CSR)

Intech Investment Management LLC grew its holdings in Centerspace (NYSE:CSR) by 76.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 10,108 shares of the company’s stock after acquiring an additional 4,391 shares during the period. Intech Investment Management LLC’s holdings in Centerspace were worth $669,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in CSR. Smartleaf Asset Management LLC lifted its holdings in shares of Centerspace by 370.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 381 shares of the company’s stock valued at $25,000 after acquiring an additional 300 shares during the last quarter. Loomis Sayles & Co. L P raised its position in Centerspace by 3,131.6% during the third quarter. Loomis Sayles & Co. L P now owns 614 shares of the company’s stock valued at $43,000 after purchasing an additional 595 shares during the period. KBC Group NV boosted its holdings in shares of Centerspace by 75.9% in the 4th quarter. KBC Group NV now owns 1,080 shares of the company’s stock worth $71,000 after purchasing an additional 466 shares during the period. Van ECK Associates Corp boosted its holdings in shares of Centerspace by 19.4% in the 4th quarter. Van ECK Associates Corp now owns 3,135 shares of the company’s stock worth $207,000 after purchasing an additional 509 shares during the period. Finally, Systematic Financial Management LP purchased a new position in shares of Centerspace in the 3rd quarter worth approximately $220,000. 79.00% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on CSR shares. Royal Bank of Canada lifted their price objective on shares of Centerspace from $72.00 to $73.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Wedbush started coverage on shares of Centerspace in a report on Tuesday, December 17th. They issued a “neutral” rating and a $72.00 target price for the company. Wells Fargo & Company started coverage on shares of Centerspace in a report on Wednesday, March 19th. They set an “equal weight” rating and a $68.00 price target on the stock. Finally, Janney Montgomery Scott upgraded Centerspace from a “neutral” rating to a “buy” rating and set a $72.00 target price for the company in a research report on Wednesday, January 15th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $73.63.

Centerspace Price Performance

Shares of CSR stock opened at $63.63 on Monday. The company has a market capitalization of $1.06 billion, a P/E ratio of -50.10 and a beta of 0.91. The company’s 50-day simple moving average is $62.86 and its two-hundred day simple moving average is $67.68. Centerspace has a one year low of $54.90 and a one year high of $76.16. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.04 and a quick ratio of 0.05.

Centerspace (NYSE:CSR) last announced its quarterly earnings data on Tuesday, February 18th. The company reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $1.36. The company had revenue of $66.41 million for the quarter, compared to analysts’ expectations of $65.96 million. Centerspace had a negative return on equity of 1.34% and a negative net margin of 4.34%. As a group, equities analysts anticipate that Centerspace will post 4.94 EPS for the current year.

Centerspace Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 8th. Stockholders of record on Friday, March 28th will be paid a dividend of $0.77 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $3.08 annualized dividend and a dividend yield of 4.84%. This is a positive change from Centerspace’s previous quarterly dividend of $0.75. Centerspace’s dividend payout ratio (DPR) is currently -242.52%.

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.