Boothbay Fund Management LLC Has $1.25 Million Holdings in Centerspace (NYSE:CSR)

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

A number of other hedge funds have also recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC raised 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 purchasing an additional 300 shares during the period. Sterling Capital Management LLC lifted its holdings in Centerspace by 903.8% in the fourth quarter. Sterling Capital Management LLC now owns 522 shares of the company's stock worth $35,000 after acquiring an additional 470 shares during the last quarter. KBC Group NV boosted its stake in 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 acquiring an additional 466 shares during the period. Summit Investment Advisors Inc. grew its holdings in shares of Centerspace by 15.2% during 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 last quarter. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of Centerspace during the 4th quarter worth approximately $196,000. Institutional investors and hedge funds own 79.00% of the company's stock.

Analysts Set New Price Targets

CSR has been the subject of a number of recent research reports. Royal Bank of Canada upped 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. Raymond James upgraded shares of Centerspace from a "market perform" rating to an "outperform" rating and set a $66.00 price objective on the stock in a research report on Monday, April 21st. BMO Capital Markets upgraded 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 report on Friday, April 4th. Janney Montgomery Scott upgraded Centerspace from a "neutral" rating to a "buy" rating and set a $72.00 price objective for the company in a research report on Wednesday, January 15th. Finally, UBS Group initiated coverage on Centerspace in a research report on Monday, April 7th. They issued a "neutral" rating and a $67.00 target price on the stock. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Centerspace presently has an average rating of "Moderate Buy" and an average target price of $72.11.

Centerspace Price Performance

Shares of CSR traded up $1.31 during midday trading on Friday, reaching $61.44. The stock had a trading volume of 77,123 shares, compared to its average volume of 111,115. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.04 and a quick ratio of 0.05. The company has a market capitalization of $1.03 billion, a P/E ratio of -48.38 and a beta of 0.77. The firm's 50 day moving average price is $61.73 and its 200-day moving average price is $65.02. Centerspace has a 52 week low of $54.13 and a 52 week high of $76.16.

Centerspace (NYSE:CSR - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $1.21 EPS for the quarter, hitting the consensus estimate 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 analysts' expectations of $66.70 million. On average, analysts forecast that Centerspace will post 4.94 earnings per share for the current fiscal 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 represents a $3.08 dividend on an annualized basis and a yield of 5.01%. This is a boost from Centerspace's previous quarterly dividend of $0.75. The ex-dividend date was Friday, March 28th. Centerspace's dividend payout ratio (DPR) is presently -275.00%.

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.