Centerspace (NYSE:CSR) Stake Lessened by Boothbay Fund Management LLC

Boothbay Fund Management LLC decreased its position in Centerspace (NYSE:CSR - Free Report) by 87.6% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 18,827 shares of the company's stock after selling 133,031 shares during the period. Boothbay Fund Management LLC owned about 0.11% of Centerspace worth $1,245,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Barclays PLC increased its stake in shares of Centerspace by 1,553.4% during 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. Tidal Investments LLC purchased a new position in Centerspace during the third quarter worth $339,000. Franklin Resources Inc. raised its holdings in shares of Centerspace by 11.1% in the third quarter. Franklin Resources Inc. now owns 9,957 shares of the company's stock worth $708,000 after acquiring an additional 992 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Centerspace by 3.6% in the third quarter. Principal Financial Group Inc. now owns 81,338 shares of the company's stock valued at $5,732,000 after acquiring an additional 2,852 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Centerspace by 25.6% during the third quarter. JPMorgan Chase & Co. now owns 193,242 shares of the company's stock valued at $13,618,000 after acquiring an additional 39,380 shares during the last quarter. Hedge funds and other institutional investors own 79.00% of the company's stock.

Wall Street Analyst Weigh In

CSR has been the subject of several analyst reports. BMO Capital Markets raised shares of Centerspace from a "market perform" rating to an "outperform" rating and set a $77.00 target price for the company in a research note on Friday, April 4th. Wells Fargo & Company started coverage on shares of Centerspace in a research note on Wednesday, March 19th. They set an "equal weight" rating and a $68.00 price objective on the stock. UBS Group started coverage on shares of Centerspace in a research note on Monday, April 7th. They issued a "neutral" rating and a $67.00 target price for the company. Royal Bank of Canada increased their price target on Centerspace from $72.00 to $73.00 and gave the stock an "outperform" rating in a research note on Thursday, February 20th. Finally, Raymond James raised Centerspace from a "market perform" rating to an "outperform" rating and set a $66.00 price objective for the company in a research report on Monday, April 21st. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Centerspace presently has an average rating of "Moderate Buy" and an average target price of $71.70.

Centerspace Trading Down 0.8 %

CSR stock traded down $0.50 during trading on Thursday, reaching $59.86. 114,821 shares of the stock traded hands, compared to its average volume of 111,048. The business's 50 day moving average price is $61.81 and its 200-day moving average price is $65.17. The firm has a market capitalization of $1.00 billion, a PE ratio of -47.13 and a beta of 0.79. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.04 and a quick ratio of 0.05. Centerspace has a 52-week low of $54.13 and a 52-week high of $76.16.

Centerspace (NYSE:CSR - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $1.21 earnings per share (EPS) 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%. As a group, sell-side analysts forecast that Centerspace will post 4.94 earnings per share for the current year.

Centerspace Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 8th. Investors of record on Friday, March 28th were issued a dividend of $0.77 per share. This is a positive change from Centerspace's previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Friday, March 28th. This represents a $3.08 annualized dividend and a dividend yield of 5.15%. Centerspace's payout ratio is presently -242.52%.

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.