GAMMA Investing LLC Buys 18,259 Shares of Centerspace (NYSE:CSR)

GAMMA Investing LLC boosted its holdings in shares of Centerspace (NYSE:CSR - Free Report) by 7,022.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 18,519 shares of the company's stock after buying an additional 18,259 shares during the period. GAMMA Investing LLC owned approximately 0.11% of Centerspace worth $1,199,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CSR. Smartleaf Asset Management LLC grew its stake in Centerspace by 370.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 381 shares of the company's stock worth $25,000 after buying an additional 300 shares in the last quarter. Sterling Capital Management LLC lifted its holdings in shares of Centerspace by 903.8% during the 4th quarter. Sterling Capital Management LLC now owns 522 shares of the company's stock worth $35,000 after acquiring an additional 470 shares during the last quarter. Summit Investment Advisors Inc. grew its position 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 acquiring an additional 229 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in Centerspace in the fourth quarter worth $196,000. Finally, Van ECK Associates Corp increased its stake in Centerspace by 19.4% in the fourth quarter. Van ECK Associates Corp now owns 3,135 shares of the company's stock valued at $207,000 after acquiring an additional 509 shares during the last quarter. 79.00% of the stock is currently owned by hedge funds and other institutional investors.

Centerspace Trading Up 0.3%

Centerspace stock traded up $0.18 during trading hours on Thursday, reaching $62.58. The stock had a trading volume of 92,642 shares, compared to its average volume of 114,383. The company has a fifty day simple moving average of $61.40 and a 200-day simple moving average of $63.05. Centerspace has a 52 week low of $54.13 and a 52 week high of $76.16. The stock has a market cap of $1.05 billion, a PE ratio of -55.87 and a beta of 0.75. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.05 and a quick ratio of 0.05.

Centerspace (NYSE:CSR - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $1.21 earnings per share for the quarter, hitting analysts' consensus estimates of $1.21. Centerspace had a negative net margin of 4.23% and a negative return on equity of 1.30%. The company had revenue of $67.09 million during the quarter, compared to analyst estimates of $66.70 million. Analysts forecast that Centerspace will post 4.94 EPS for the current fiscal year.

Centerspace Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Friday, June 27th will be paid a dividend of $0.77 per share. The ex-dividend date of this dividend is Friday, June 27th. This represents a $3.08 annualized dividend and a dividend yield of 4.92%. Centerspace's dividend payout ratio (DPR) is presently -275.00%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on CSR shares. Wells Fargo & Company initiated coverage on Centerspace in a research report on Wednesday, March 19th. They set an "equal weight" rating and a $68.00 price target on the stock. 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 report on Friday, April 4th. Royal Bank Of Canada boosted their target price on Centerspace from $71.00 to $72.00 and gave the stock an "outperform" rating in a research report on Monday, May 5th. Piper Sandler reduced their price target on shares of Centerspace from $75.00 to $68.00 and set a "neutral" rating on the stock in a research report on Monday, May 5th. Finally, UBS Group started coverage on shares of Centerspace in a report on Monday, April 7th. They issued a "neutral" rating and a $67.00 price objective for the company. Four research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $71.56.

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.