Centerspace (NYSE:CSR) Shares Acquired by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System raised its holdings in shares of Centerspace (NYSE:CSR) by 7.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 5,581 shares of the company’s stock after buying an additional 382 shares during the period. Maryland State Retirement & Pension System’s holdings in Centerspace were worth $369,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Intech Investment Management LLC acquired a new stake in shares of Centerspace during the third quarter worth approximately $403,000. Charles Schwab Investment Management Inc. boosted its stake in Centerspace by 9.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 275,511 shares of the company’s stock valued at $19,415,000 after acquiring an additional 23,839 shares during the last quarter. Cerity Partners LLC acquired a new position in Centerspace during the 3rd quarter worth $746,000. Daiwa Securities Group Inc. increased its position in shares of Centerspace by 8.0% in the 3rd quarter. Daiwa Securities Group Inc. now owns 5,032 shares of the company’s stock worth $355,000 after purchasing an additional 372 shares during the last quarter. Finally, Loomis Sayles & Co. L P raised its stake in shares of Centerspace by 3,131.6% in the 3rd 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 in the last quarter. 79.00% of the stock is currently owned by hedge funds and other institutional investors.

Centerspace Stock Performance

Shares of CSR opened at $63.80 on Wednesday. The firm has a fifty day moving average of $63.00 and a 200-day moving average of $67.53. The company has a market cap of $1.07 billion, a price-to-earnings ratio of -50.24 and a beta of 0.91. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.05 and a current ratio of 0.04. Centerspace has a 1 year low of $54.90 and a 1 year high of $76.16.

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

Centerspace Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 8th. Investors of record on Friday, March 28th will be given a $0.77 dividend. This is a boost from Centerspace’s previous quarterly dividend of $0.75. This represents a $3.08 annualized dividend and a yield of 4.83%. The ex-dividend date of this dividend is Friday, March 28th. Centerspace’s dividend payout ratio (DPR) is currently -242.52%.

Analyst Ratings Changes

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

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.