Bank of America Corp DE increased its position in Centerspace (NYSE:CSR - Free Report) by 24.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,488 shares of the company's stock after acquiring an additional 5,702 shares during the period. Bank of America Corp DE owned approximately 0.18% of Centerspace worth $1,951,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of the company. Smartleaf Asset Management LLC grew its holdings 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 buying an additional 300 shares during the last quarter. Sterling Capital Management LLC grew its holdings in Centerspace by 903.8% during the 4th 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 last quarter. KBC Group NV grew its holdings in Centerspace by 75.9% during the 4th quarter. KBC Group NV now owns 1,080 shares of the company's stock valued at $71,000 after buying an additional 466 shares during the last quarter. Summit Investment Advisors Inc. grew its holdings in Centerspace by 15.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 1,732 shares of the company's stock valued at $115,000 after buying an additional 229 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new stake in Centerspace during the 4th quarter valued at $196,000. Institutional investors and hedge funds own 79.00% of the company's stock.
Centerspace Stock Performance
NYSE CSR traded down $0.23 during trading hours on Thursday, reaching $63.57. The company's stock had a trading volume of 161,604 shares, compared to its average volume of 113,500. The business has a 50-day simple moving average of $60.70 and a 200 day simple moving average of $63.69. The stock has a market cap of $1.06 billion, a PE ratio of -50.05 and a beta of 0.75. 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 has a 52 week low of $54.13 and a 52 week high of $76.16.
Centerspace (NYSE:CSR - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $1.21 EPS for the quarter, hitting the consensus estimate of $1.21. The firm 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%. Equities research analysts predict that Centerspace will post 4.94 earnings per share for the current fiscal year.
Centerspace Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Friday, June 27th will be paid a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.85%. The ex-dividend date of this dividend is Friday, June 27th. Centerspace's dividend payout ratio (DPR) is currently -275.00%.
Wall Street Analyst Weigh In
CSR has been the topic of a number of analyst reports. Wells Fargo & Company initiated coverage on Centerspace in a report on Wednesday, March 19th. They set an "equal weight" rating and a $68.00 target price on the stock. UBS Group assumed 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. BMO Capital Markets upgraded Centerspace from a "market perform" rating to an "outperform" rating and set a $77.00 price target for the company in a report on Friday, April 4th. Piper Sandler lowered their target price on Centerspace from $75.00 to $68.00 and set a "neutral" rating for the company in a research note on Monday, May 5th. Finally, Royal Bank of Canada raised their target price on Centerspace from $71.00 to $72.00 and gave the company an "outperform" rating in a research note on Monday, May 5th. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Centerspace has an average rating of "Moderate Buy" and a consensus target price of $71.56.
Check Out Our Latest Analysis on Centerspace
Centerspace Profile
(
Free Report)
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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