Dark Forest Capital Management LP Takes Position in Centerspace (NYSE:CSR)

Dark Forest Capital Management LP bought a new position in shares of Centerspace (NYSE:CSR - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 6,490 shares of the company's stock, valued at approximately $429,000.

A number of other institutional investors and hedge funds also recently modified their holdings of CSR. Smartleaf Asset Management LLC raised its stake in 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 purchasing an additional 300 shares during the period. Sterling Capital Management LLC raised its position 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 buying an additional 470 shares during the period. KBC Group NV lifted 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 acquiring an additional 466 shares in the last quarter. Summit Investment Advisors Inc. boosted its position in Centerspace by 15.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 1,732 shares of the company's stock worth $115,000 after acquiring an additional 229 shares during the period. Finally, KLP Kapitalforvaltning AS purchased a new position in Centerspace during the 4th quarter valued at about $196,000. 79.00% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on CSR shares. UBS Group assumed coverage on shares of Centerspace in a report on Monday, April 7th. They set a "neutral" rating and a $67.00 price target for the company. Royal Bank of Canada boosted their price target on shares of Centerspace from $72.00 to $73.00 and gave the company an "outperform" rating in a report on Thursday, February 20th. Wells Fargo & Company assumed coverage on Centerspace in a report on Wednesday, March 19th. They set an "equal weight" rating and a $68.00 price objective for the company. BMO Capital Markets upgraded Centerspace from a "market perform" rating to an "outperform" rating and set a $77.00 target price on the stock in a research note on Friday, April 4th. Finally, Janney Montgomery Scott raised Centerspace from a "neutral" rating to a "buy" rating and set a $72.00 target price on the stock in a research report on Wednesday, January 15th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $71.70.

Centerspace Stock Performance

CSR traded up $1.15 on Friday, hitting $61.28. The company had a trading volume of 15,250 shares, compared to its average volume of 110,670. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of -48.25 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. The company's fifty day moving average price is $61.81 and its 200 day moving average price is $65.17. Centerspace has a 1-year low of $54.13 and a 1-year high of $76.16.

Centerspace (NYSE:CSR - Get Free Report) last posted 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 business had revenue of $67.09 million for the quarter, compared to analyst estimates of $66.70 million. Centerspace had a negative return on equity of 1.34% and a negative net margin of 4.34%. Equities analysts predict that Centerspace will post 4.94 earnings per share for the current fiscal year.

Centerspace Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 8th. Investors of record on Friday, March 28th were paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 5.03%. 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. Centerspace's dividend payout ratio is presently -242.52%.

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.