Centerspace (NYSE:CSR) Shares Purchased by Northern Trust Corp

Northern Trust Corp increased its position in shares of Centerspace (NYSE:CSR - Free Report) by 28.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 230,816 shares of the company's stock after acquiring an additional 51,259 shares during the quarter. Northern Trust Corp owned approximately 1.39% of Centerspace worth $15,268,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in CSR. Smartleaf Asset Management LLC boosted 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 last quarter. Sterling Capital Management LLC boosted its stake in Centerspace by 903.8% in the 4th quarter. Sterling Capital Management LLC now owns 522 shares of the company's stock worth $35,000 after buying an additional 470 shares during the last quarter. KBC Group NV boosted its stake in Centerspace by 75.9% in the 4th quarter. KBC Group NV now owns 1,080 shares of the company's stock worth $71,000 after buying an additional 466 shares during the last quarter. Summit Investment Advisors Inc. boosted its stake in Centerspace by 15.2% in the 4th quarter. Summit Investment Advisors Inc. now owns 1,732 shares of the company's stock worth $115,000 after buying an additional 229 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new stake in Centerspace in the 4th quarter worth about $196,000. Institutional investors and hedge funds own 79.00% of the company's stock.

Centerspace Stock Performance

NYSE:CSR opened at $58.87 on Thursday. The company has a current ratio of 0.04, a quick ratio of 0.05 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $985.19 million, a price-to-earnings ratio of -46.35 and a beta of 0.77. The firm's fifty day simple moving average is $60.98 and its 200 day simple moving average is $64.55. Centerspace has a twelve month low of $54.13 and a twelve month high of $76.16.

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

Centerspace Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 8th. Investors of record on Friday, March 28th were given a dividend of $0.77 per share. The ex-dividend date of this dividend was Friday, March 28th. This is a positive change from Centerspace's previous quarterly dividend of $0.75. This represents a $3.08 annualized dividend and a yield of 5.23%. Centerspace's payout ratio is -275.00%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. UBS Group assumed coverage on shares of Centerspace in a research report on Monday, April 7th. They issued a "neutral" rating and a $67.00 target price on the stock. BMO Capital Markets upgraded shares of Centerspace from a "market perform" rating to an "outperform" rating and set a $77.00 price target on the stock in a report on Friday, April 4th. Raymond James upgraded shares of Centerspace from a "market perform" rating to an "outperform" rating and set a $66.00 price target on the stock in a report on Monday, April 21st. Wells Fargo & Company assumed coverage on shares of Centerspace in a report on Wednesday, March 19th. They issued an "equal weight" rating and a $68.00 price target on the stock. Finally, Royal Bank of Canada lifted their target price on Centerspace from $71.00 to $72.00 and gave the company an "outperform" rating in a report on Monday, May 5th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Centerspace currently has an average rating of "Moderate Buy" and an average price target of $71.22.

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.

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