Capital Square LLC Boosts Stock Position in Centerspace (NYSE:CSR)

Capital Square LLC boosted its stake in shares of Centerspace (NYSE:CSR) by 9.0% in the third quarter, HoldingsChannel reports. The institutional investor owned 8,001 shares of the company’s stock after purchasing an additional 662 shares during the period. Capital Square LLC’s holdings in Centerspace were worth $564,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of Centerspace by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 2,401,497 shares of the company’s stock worth $137,222,000 after buying an additional 9,984 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Centerspace by 9.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 275,511 shares of the company’s stock worth $19,415,000 after acquiring an additional 23,839 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Centerspace by 6.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 223,770 shares of the company’s stock worth $15,134,000 after purchasing an additional 14,440 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Centerspace by 0.4% during the second quarter. Bank of New York Mellon Corp now owns 139,188 shares of the company’s stock valued at $9,413,000 after purchasing an additional 605 shares in the last quarter. Finally, Westwood Holdings Group Inc. raised its stake in Centerspace by 10.8% in the second quarter. Westwood Holdings Group Inc. now owns 99,718 shares of the company’s stock worth $6,744,000 after buying an additional 9,718 shares in the last quarter. 79.00% of the stock is owned by hedge funds and other institutional investors.

Centerspace Price Performance

CSR stock traded up $0.67 during mid-day trading on Monday, reaching $74.38. The company’s stock had a trading volume of 5,388 shares, compared to its average volume of 103,928. Centerspace has a fifty-two week low of $52.26 and a fifty-two week high of $76.16. The company’s 50 day moving average is $71.56 and its two-hundred day moving average is $70.70. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.70.

Centerspace (NYSE:CSR) last released its quarterly earnings data on Monday, October 28th. The company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of $1.17 by ($1.57). Centerspace had a negative net margin of 5.57% and a negative return on equity of 1.72%. The business had revenue of $65.03 million during the quarter, compared to analyst estimates of $66.35 million. During the same quarter in the prior year, the company posted $1.20 earnings per share. On average, sell-side analysts expect 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 issued a $0.75 dividend. The ex-dividend date was Monday, September 30th. This represents a $3.00 annualized dividend and a dividend yield of 4.03%. Centerspace’s dividend payout ratio is presently -186.33%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Royal Bank of Canada reissued an “outperform” rating and issued a $76.00 price target on shares of Centerspace in a research report on Wednesday, October 30th. Piper Sandler boosted their target price on shares of Centerspace from $64.00 to $75.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Raymond James downgraded Centerspace from an “outperform” rating to a “market perform” rating in a report on Monday, October 21st. Finally, BTIG Research lifted their target price on shares of Centerspace from $69.00 to $79.00 and gave the company a “buy” rating in a report on Monday, August 12th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus 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.