Thrivent Financial for Lutherans Boosts Stock Position in Centerspace (NYSE:CSR)

Thrivent Financial for Lutherans grew its holdings in Centerspace (NYSE:CSR) by 6.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 12,809 shares of the company’s stock after acquiring an additional 794 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Centerspace were worth $847,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in CSR. Smartleaf Asset Management LLC grew its holdings in shares of Centerspace by 370.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 381 shares of the company’s stock worth $25,000 after purchasing an additional 300 shares during the last quarter. KBC Group NV lifted its holdings in Centerspace by 75.9% during the 4th quarter. KBC Group NV now owns 1,080 shares of the company’s stock valued at $71,000 after buying an additional 466 shares in the last quarter. Van ECK Associates Corp boosted its position in Centerspace by 19.4% in the 4th quarter. Van ECK Associates Corp now owns 3,135 shares of the company’s stock valued at $207,000 after buying an additional 509 shares during the period. Systematic Financial Management LP bought a new position in Centerspace in the 3rd quarter worth about $220,000. Finally, Captrust Financial Advisors bought a new position in Centerspace in the 3rd quarter worth about $234,000. 79.00% of the stock is currently owned by institutional investors.

Centerspace Trading Down 0.8 %

CSR opened at $64.22 on Wednesday. Centerspace has a 12 month low of $54.90 and a 12 month high of $76.16. The stock has a fifty day moving average price of $63.30 and a 200-day moving average price of $67.19. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of -50.56 and a beta of 0.91. The company has a current ratio of 0.04, a quick ratio of 0.05 and a debt-to-equity ratio of 0.74.

Centerspace (NYSE:CSR) last announced its earnings results on Tuesday, February 18th. The company reported $1.21 EPS for the quarter, topping 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 business had revenue of $66.41 million during the quarter, compared to the consensus estimate of $65.96 million. As a group, equities research analysts anticipate that Centerspace will post 4.94 earnings per share for the current fiscal year.

Centerspace Increases Dividend

The company 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 dividend of $0.77 per share. This is a boost from Centerspace’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Friday, March 28th. This represents a $3.08 dividend on an annualized basis and a yield of 4.80%. Centerspace’s dividend payout ratio is presently -242.52%.

Analyst Upgrades and Downgrades

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

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.