Barclays PLC Sells 37,450 Shares of Centerspace (NYSE:CSR)

Barclays PLC reduced its stake in shares of Centerspace (NYSE:CSR - Free Report) by 36.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,409 shares of the company's stock after selling 37,450 shares during the period. Barclays PLC owned 0.39% of Centerspace worth $4,327,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Smartleaf Asset Management LLC increased its holdings in shares of Centerspace by 370.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 381 shares of the company's stock valued at $25,000 after acquiring an additional 300 shares during the last quarter. Sterling Capital Management LLC grew its holdings in Centerspace by 903.8% during the fourth quarter. Sterling Capital Management LLC now owns 522 shares of the company's stock valued at $35,000 after purchasing an additional 470 shares during the last quarter. KBC Group NV raised its position in shares of Centerspace by 75.9% in the fourth quarter. KBC Group NV now owns 1,080 shares of the company's stock valued at $71,000 after purchasing an additional 466 shares during the period. Summit Investment Advisors Inc. raised its position in shares of Centerspace by 15.2% in the fourth quarter. Summit Investment Advisors Inc. now owns 1,732 shares of the company's stock valued at $115,000 after purchasing an additional 229 shares during the period. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of Centerspace in the fourth quarter worth $196,000. Institutional investors and hedge funds own 79.00% of the company's stock.

Centerspace Stock Performance

Shares of NYSE:CSR traded up $0.64 during trading on Friday, hitting $60.77. 10,340 shares of the stock were exchanged, compared to its average volume of 110,653. The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of -48.24 and a beta of 0.79. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.05 and a current ratio of 0.04. Centerspace has a 1-year low of $54.13 and a 1-year high of $76.16. The company's fifty day simple moving average is $61.81 and its 200-day simple moving average is $65.17.

Centerspace (NYSE:CSR - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $1.21 earnings per share for the quarter, hitting analysts' consensus estimates of $1.21. Centerspace had a negative net margin of 4.34% and a negative return on equity of 1.34%. The firm had revenue of $67.09 million for the quarter, compared to the consensus estimate of $66.70 million. Sell-side analysts expect that Centerspace will post 4.94 EPS for the current fiscal year.

Centerspace Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 8th. Investors of record on Friday, March 28th were given a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 5.07%. The ex-dividend date was Friday, March 28th. This is a positive change from Centerspace's previous quarterly dividend of $0.75. Centerspace's dividend payout ratio is -242.52%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CSR. Wells Fargo & Company started coverage on shares of Centerspace in a research note on Wednesday, March 19th. They issued an "equal weight" rating and a $68.00 target price on the stock. Royal Bank of Canada lifted their price objective on Centerspace from $72.00 to $73.00 and gave the stock an "outperform" rating in a research note on Thursday, February 20th. UBS Group started coverage on Centerspace in a research report on Monday, April 7th. They set a "neutral" rating and a $67.00 price objective for the company. Raymond James raised Centerspace from a "market perform" rating to an "outperform" rating and set a $66.00 target price on the stock in a report on Monday, April 21st. Finally, Janney Montgomery Scott upgraded Centerspace from a "neutral" rating to a "buy" rating and set a $72.00 price target for the company in a report on Wednesday, January 15th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $71.70.

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.