Centerspace $CSR Shares Sold by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. trimmed its Centerspace stake by 1.8% in the fourth quarter, selling 45,242 shares and still holding about 15.05% of the company worth $167.7 million.
• Centerspace’s stock has seen mixed analyst views: Piper Sandler and RBC raised ratings/targets, while others were more cautious, leaving the consensus at Hold with an average price target of $68.67.
• The company reported a quarterly EPS miss of $0.77 versus estimates of $0.29 loss and posted revenue of $65.07 million, while also paying a $0.77 quarterly dividend that annualizes to a 4.6% yield.

Vanguard Group Inc. decreased its holdings in Centerspace (NYSE:CSR - Free Report) by 1.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,513,167 shares of the company's stock after selling 45,242 shares during the period. Vanguard Group Inc. owned about 15.05% of Centerspace worth $167,679,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the business. Land & Buildings Investment Management LLC grew its stake in shares of Centerspace by 96.4% in the third quarter. Land & Buildings Investment Management LLC now owns 599,252 shares of the company's stock worth $35,296,000 after acquiring an additional 294,086 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Centerspace by 2.0% in the third quarter. Dimensional Fund Advisors LP now owns 241,651 shares of the company's stock worth $14,232,000 after acquiring an additional 4,707 shares in the last quarter. Pacific Heights Asset Management LLC grew its stake in shares of Centerspace by 12.5% in the third quarter. Pacific Heights Asset Management LLC now owns 225,000 shares of the company's stock worth $13,252,000 after acquiring an additional 25,000 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Centerspace by 10.5% in the third quarter. JPMorgan Chase & Co. now owns 224,583 shares of the company's stock worth $13,228,000 after acquiring an additional 21,337 shares in the last quarter. Finally, Millennium Management LLC grew its stake in shares of Centerspace by 307.3% in the first quarter. Millennium Management LLC now owns 184,051 shares of the company's stock worth $11,917,000 after acquiring an additional 138,861 shares in the last quarter. Institutional investors and hedge funds own 79.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Wall Street Zen downgraded shares of Centerspace from a "sell" rating to a "strong sell" rating in a research note on Saturday. Piper Sandler upgraded shares of Centerspace from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $69.00 to $72.00 in a research note on Tuesday, April 7th. Wells Fargo & Company lowered their target price on shares of Centerspace from $74.00 to $69.00 and set an "equal weight" rating for the company in a research note on Thursday, March 5th. Weiss Ratings upgraded shares of Centerspace from a "hold (c-)" rating to a "hold (c)" rating in a research note on Wednesday. Finally, Royal Bank Of Canada boosted their target price on shares of Centerspace from $70.00 to $71.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 6th. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Centerspace has a consensus rating of "Hold" and a consensus price target of $68.67.

Centerspace Stock Performance

Shares of CSR stock opened at $67.60 on Monday. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.88. The firm has a fifty day moving average price of $62.33 and a 200 day moving average price of $63.55. The company has a market cap of $1.14 billion, a P/E ratio of 150.23 and a beta of 0.89. Centerspace has a 12 month low of $52.76 and a 12 month high of $69.61.

Centerspace (NYSE:CSR - Get Free Report) last issued its earnings results on Monday, May 4th. The company reported ($0.77) EPS for the quarter, missing analysts' consensus estimates of ($0.29) by ($0.48). The firm had revenue of $65.07 million for the quarter, compared to analyst estimates of $66.54 million. Centerspace had a return on equity of 0.94% and a net margin of 2.93%.Centerspace has set its FY 2026 guidance at 4.810-5.050 EPS. Sell-side analysts predict that Centerspace will post 4.85 earnings per share for the current fiscal year.

Centerspace Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 14th. Investors of record on Monday, March 30th were given a $0.77 dividend. The ex-dividend date of this dividend was Monday, March 30th. This represents a $3.08 dividend on an annualized basis and a yield of 4.6%. Centerspace's payout ratio is 684.44%.

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. Centerspace was named a Top Workplace for the fourth consecutive year in 2023 by the Minneapolis Star Tribune.

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