Cubist Systematic Strategies LLC Boosts Stake in Centerspace (NYSE:CSR)

Cubist Systematic Strategies LLC boosted its position in Centerspace (NYSE:CSR - Free Report) by 163.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 28,052 shares of the company's stock after purchasing an additional 17,391 shares during the period. Cubist Systematic Strategies LLC owned approximately 0.17% of Centerspace worth $1,856,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the company. Summit Investment Advisors Inc. lifted its stake in Centerspace by 15.2% in the fourth quarter. Summit Investment Advisors Inc. now owns 1,732 shares of the company's stock worth $115,000 after purchasing an additional 229 shares during the last quarter. Yousif Capital Management LLC lifted its stake in Centerspace by 4.6% in the fourth quarter. Yousif Capital Management LLC now owns 6,226 shares of the company's stock worth $412,000 after purchasing an additional 276 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its stake in Centerspace by 8.4% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,861 shares of the company's stock worth $255,000 after purchasing an additional 300 shares during the last quarter. Smartleaf Asset Management LLC lifted its position 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. Finally, Comerica Bank lifted its position in shares of Centerspace by 5.6% during the fourth quarter. Comerica Bank now owns 5,938 shares of the company's stock worth $393,000 after purchasing an additional 313 shares during the last quarter. Institutional investors own 79.00% of the company's stock.

Centerspace Trading Up 1.1%

Shares of NYSE:CSR opened at $61.19 on Monday. Centerspace has a 12-month low of $54.13 and a 12-month high of $76.16. The business's fifty day simple moving average is $61.28 and its 200-day simple moving average is $64.69. The company has a market capitalization of $1.02 billion, a PE ratio of -48.18 and a beta of 0.77. The company has a current ratio of 0.04, a quick ratio of 0.05 and a debt-to-equity ratio of 0.74.

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

Centerspace Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 8th. Investors of record on Friday, March 28th were paid a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 5.03%. 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. Centerspace's payout ratio is -275.00%.

Wall Street Analysts Forecast Growth

CSR has been the subject of several research analyst reports. Piper Sandler decreased their target price on Centerspace from $75.00 to $68.00 and set a "neutral" rating for the company in a research report on Monday, May 5th. UBS Group initiated coverage on Centerspace in a research report on Monday, April 7th. They set a "neutral" rating and a $67.00 target price for the company. Janney Montgomery Scott upgraded Centerspace from a "neutral" rating to a "buy" rating and set a $72.00 target price for the company in a research report on Wednesday, January 15th. Raymond James upgraded Centerspace from a "market perform" rating to an "outperform" rating and set a $66.00 price target for the company in a report on Monday, April 21st. Finally, Royal Bank of Canada boosted their price target on Centerspace from $71.00 to $72.00 and gave the company an "outperform" rating in a report on Monday, May 5th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Centerspace has an average rating of "Moderate Buy" and a consensus target price of $71.22.

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.

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