Penserra Capital Management LLC Decreases Stake in Centerspace (NYSE:CSR)

Penserra Capital Management LLC cut its position in shares of Centerspace (NYSE:CSR) by 2.6% in the third quarter, Holdings Channel.com reports. The institutional investor owned 8,975 shares of the company’s stock after selling 236 shares during the period. Penserra Capital Management LLC’s holdings in Centerspace were worth $632,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of 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. increased its holdings in shares of Centerspace by 0.7% in the 3rd quarter. Asset Management One Co. Ltd. now owns 23,116 shares of the company’s stock worth $1,629,000 after buying an additional 170 shares during the last quarter. The Manufacturers Life Insurance Company raised 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 valued at $388,000 after buying an additional 171 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in shares of Centerspace by 1.3% in the 3rd 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, Van ECK Associates Corp grew its position in Centerspace by 15.2% in the third quarter. Van ECK Associates Corp now owns 2,626 shares of the company’s stock worth $186,000 after acquiring an additional 347 shares in the last quarter. Institutional investors own 79.00% of the company’s stock.

Centerspace Stock Up 0.5 %

NYSE:CSR opened at $73.27 on Thursday. The company has a market cap of $1.21 billion, a price-to-earnings ratio of -45.51, a price-to-earnings-growth ratio of 2.16 and a beta of 0.89. Centerspace has a twelve month low of $52.26 and a twelve month high of $76.16. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.70. The stock has a fifty day simple moving average of $71.52 and a 200-day simple moving average of $70.73.

Centerspace (NYSE:CSR) last announced its quarterly earnings data on Monday, October 28th. The company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of $1.17 by ($1.57). The company had revenue of $65.03 million for the quarter, compared to the consensus estimate 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 quarter in the previous year, the business earned $1.20 EPS. Analysts anticipate that Centerspace will post 4.86 EPS for the current year.

Centerspace Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Monday, September 30th were paid a $0.75 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $3.00 annualized dividend and a yield of 4.09%. Centerspace’s dividend payout ratio (DPR) is currently -186.34%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on CSR shares. Raymond James lowered Centerspace from an “outperform” rating to a “market perform” rating in a research note on Monday, October 21st. Piper Sandler raised their price target on Centerspace from $64.00 to $75.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. BTIG Research boosted their price objective on shares of Centerspace from $69.00 to $79.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $76.00 target price on shares of Centerspace in a report on Wednesday, October 30th. 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.com, the stock presently has an average rating of “Hold” and a consensus price target of $76.00.

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.