GAMMA Investing LLC Raises Stock Position in Centerspace (NYSE:CSR)

GAMMA Investing LLC grew its position in shares of Centerspace (NYSE:CSR - Free Report) by 7,022.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,519 shares of the company's stock after buying an additional 18,259 shares during the quarter. GAMMA Investing LLC owned 0.11% of Centerspace worth $1,199,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. California State Teachers Retirement System grew its holdings in Centerspace by 1.9% during the fourth quarter. California State Teachers Retirement System now owns 14,401 shares of the company's stock valued at $953,000 after purchasing an additional 268 shares during the period. Phocas Financial Corp. boosted its stake in shares of Centerspace by 8.4% in the fourth quarter. Phocas Financial Corp. now owns 58,483 shares of the company's stock worth $3,869,000 after acquiring an additional 4,542 shares during the period. Employees Retirement System of Texas raised its stake in Centerspace by 59.3% during the 4th quarter. Employees Retirement System of Texas now owns 43,000 shares of the company's stock valued at $2,844,000 after purchasing an additional 16,000 shares during the period. Public Employees Retirement System of Ohio lifted its holdings in Centerspace by 7.3% in the 4th quarter. Public Employees Retirement System of Ohio now owns 23,691 shares of the company's stock worth $1,567,000 after purchasing an additional 1,621 shares in the last quarter. Finally, Westwood Holdings Group Inc. boosted its stake in Centerspace by 13.4% in the 4th quarter. Westwood Holdings Group Inc. now owns 113,104 shares of the company's stock worth $7,482,000 after purchasing an additional 13,386 shares during the period. 79.00% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Raymond James raised shares of Centerspace from an "outperform" rating to a "strong-buy" rating and raised their target price for the company from $66.00 to $69.00 in a research note on Thursday, May 15th. BMO Capital Markets raised Centerspace from a "market perform" rating to an "outperform" rating and set a $77.00 price objective on the stock in a research note on Friday, April 4th. Royal Bank of Canada increased their target price on Centerspace from $71.00 to $72.00 and gave the company an "outperform" rating in a research report on Monday, May 5th. UBS Group started coverage on shares of Centerspace in a research report on Monday, April 7th. They issued a "neutral" rating and a $67.00 price target on the stock. Finally, Wells Fargo & Company initiated coverage on shares of Centerspace in a research report on Wednesday, March 19th. They set an "equal weight" rating and a $68.00 price objective for the company. Four analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $71.56.

Centerspace Trading Down 0.1%

CSR stock traded down $0.08 during mid-day trading on Tuesday, reaching $62.50. The company had a trading volume of 1,512 shares, compared to its average volume of 113,803. Centerspace has a 12 month low of $54.13 and a 12 month high of $76.16. The company has a market capitalization of $1.05 billion, a PE ratio of -49.21 and a beta of 0.75. The firm has a 50 day moving average of $61.23 and a 200 day moving average of $63.05. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.04 and a quick ratio of 0.05.

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

Centerspace Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Friday, June 27th will be paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 4.93%. The ex-dividend date is Friday, June 27th. Centerspace's dividend payout ratio (DPR) is presently -275.00%.

Centerspace 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.