Vanguard Group Inc. Buys 195,629 Shares of Centerspace (NYSE:CSR)

Vanguard Group Inc. boosted its stake in Centerspace (NYSE:CSR) by 8.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,594,366 shares of the company’s stock after purchasing an additional 195,629 shares during the period. Vanguard Group Inc. owned about 0.16% of Centerspace worth $171,617,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC increased its holdings in shares of Centerspace by 370.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 381 shares of the company’s stock worth $25,000 after buying an additional 300 shares in the last quarter. KBC Group NV grew its position in Centerspace by 75.9% during the 4th quarter. KBC Group NV now owns 1,080 shares of the company’s stock worth $71,000 after acquiring an additional 466 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in Centerspace in the 4th quarter worth about $196,000. Van ECK Associates Corp increased its holdings in 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 in the last quarter. Finally, Captrust Financial Advisors bought a new position in Centerspace in the third quarter valued at about $234,000. Institutional investors and hedge funds own 79.00% of the company’s stock.

Centerspace Price Performance

CSR stock opened at $60.14 on Monday. The company has a quick ratio of 0.05, a current ratio of 0.04 and a debt-to-equity ratio of 0.74. The company’s fifty day simple moving average is $63.37 and its 200 day simple moving average is $66.95. Centerspace has a 12-month low of $56.06 and a 12-month high of $76.16. The firm has a market cap of $1.01 billion, a price-to-earnings ratio of -47.35 and a beta of 0.79.

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, beating analysts’ consensus estimates of ($0.15) by $1.36. Centerspace had a negative return on equity of 1.34% and a negative net margin of 4.34%. The company had revenue of $66.41 million for the quarter, compared to the consensus estimate of $65.96 million. On average, analysts expect that Centerspace will post 4.94 earnings per share for the current year.

Centerspace Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 8th. Stockholders of record on Friday, March 28th will be given a dividend of $0.77 per share. This is an increase from Centerspace’s previous quarterly dividend of $0.75. The ex-dividend date is Friday, March 28th. This represents a $3.08 annualized dividend and a dividend yield of 5.12%. Centerspace’s dividend payout ratio (DPR) is -242.52%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Wells Fargo & Company began coverage on Centerspace in a report on Wednesday, March 19th. They set an “equal weight” rating and a $68.00 price target on the stock. Royal Bank of Canada upped their price target on shares of 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 raised shares of Centerspace from a “neutral” rating to a “buy” rating and set a $72.00 price target for the company in a research note on Wednesday, January 15th. BMO Capital Markets raised shares of Centerspace from a “market perform” rating to an “outperform” rating and set a $77.00 price objective on the stock in a research note on Friday. Finally, Wedbush started coverage on Centerspace in a research report on Tuesday, December 17th. They set a “neutral” rating and a $72.00 target price for the company. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $74.00.

Centerspace Company 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.