Principal Financial Group Inc. Buys 2,852 Shares of Centerspace (NYSE:CSR)

Principal Financial Group Inc. boosted its stake in Centerspace (NYSE:CSR) by 3.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,338 shares of the company’s stock after purchasing an additional 2,852 shares during the quarter. Principal Financial Group Inc.’s holdings in Centerspace were worth $5,732,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Franklin Resources Inc. raised its position in shares of Centerspace by 11.1% during the 3rd quarter. Franklin Resources Inc. now owns 9,957 shares of the company’s stock valued at $708,000 after buying an additional 992 shares in the last quarter. Tidal Investments LLC purchased a new stake in Centerspace during the third quarter valued at about $339,000. Geode Capital Management LLC lifted its stake in Centerspace by 3.1% during the third quarter. Geode Capital Management LLC now owns 387,517 shares of the company’s stock worth $27,314,000 after purchasing an additional 11,749 shares during the last quarter. Barclays PLC boosted its holdings in shares of Centerspace by 1,553.4% in the 3rd quarter. Barclays PLC now owns 102,859 shares of the company’s stock worth $7,249,000 after purchasing an additional 96,638 shares in the last quarter. Finally, Public Employees Retirement System of Ohio increased its position in shares of Centerspace by 3.4% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 22,070 shares of the company’s stock valued at $1,555,000 after purchasing an additional 720 shares during the last quarter. Hedge funds and other institutional investors own 79.00% of the company’s stock.

Analyst Ratings Changes

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

Centerspace Trading Up 1.5 %

Shares of CSR opened at $66.15 on Thursday. The stock has a market capitalization of $1.10 billion, a P/E ratio of -41.09, a PEG ratio of 2.04 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 quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.70. The firm has a fifty day simple moving average of $70.25 and a two-hundred day simple moving average of $70.86.

Centerspace (NYSE:CSR) last posted its earnings results 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). Centerspace had a negative return on equity of 1.72% and a negative net margin of 5.57%. The firm had revenue of $65.03 million for the quarter, compared to analysts’ expectations of $66.35 million. During the same quarter in the prior year, the company posted $1.20 earnings per share. On average, research analysts anticipate that Centerspace will post 4.86 EPS for the current year.

Centerspace Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Monday, December 30th will be paid a dividend of $0.75 per share. The ex-dividend date is Monday, December 30th. This represents a $3.00 annualized dividend and a dividend yield of 4.54%. Centerspace’s dividend payout ratio (DPR) 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.