Cambridge Investment Research Advisors Inc. Acquires 4,369 Shares of Centerspace (NYSE:CSR)

Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Centerspace (NYSE:CSR - Free Report) by 21.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 24,322 shares of the company's stock after purchasing an additional 4,369 shares during the quarter. Cambridge Investment Research Advisors Inc. owned about 0.15% of Centerspace worth $1,575,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in CSR. Smartleaf Asset Management LLC lifted 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 purchasing an additional 300 shares in the last quarter. Sterling Capital Management LLC increased its holdings in shares of Centerspace by 903.8% in the fourth quarter. Sterling Capital Management LLC now owns 522 shares of the company's stock worth $35,000 after purchasing an additional 470 shares during the last quarter. Summit Investment Advisors Inc. lifted its position in shares of 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 buying an additional 229 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Centerspace in the fourth quarter worth about $196,000. Finally, First Trust Advisors LP bought a new position in Centerspace during the fourth quarter valued at approximately $223,000. 79.00% of the stock is owned by hedge funds and other institutional investors.

Centerspace Trading Up 0.3%

Shares of CSR traded up $0.17 during midday trading on Thursday, hitting $61.09. The stock had a trading volume of 33,958 shares, compared to its average volume of 114,368. Centerspace has a 1 year low of $54.13 and a 1 year high of $76.16. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.05 and a quick ratio of 0.05. The stock's 50 day moving average is $62.04 and its 200 day moving average is $62.42. The firm has a market cap of $1.02 billion, a PE ratio of -54.54 and a beta of 0.72.

Centerspace (NYSE:CSR - Get Free Report) last posted its quarterly earnings data 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 for the quarter, compared to analyst estimates of $66.70 million. As a group, analysts forecast that Centerspace will post 4.94 EPS for the current fiscal year.

Centerspace Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Friday, June 27th will be issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 5.04%. The ex-dividend date of this dividend is Friday, June 27th. Centerspace's payout ratio is currently -275.00%.

Analysts Set New Price Targets

Several analysts have recently issued reports on CSR shares. 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. Piper Sandler decreased their price target on shares of Centerspace from $75.00 to $68.00 and set a "neutral" rating on the stock in a research note on Monday, May 5th. Raymond James Financial raised shares of Centerspace from an "outperform" rating to a "strong-buy" rating and lifted their price objective for the stock from $66.00 to $69.00 in a research note on Thursday, May 15th. Royal Bank Of Canada boosted their target price on shares of Centerspace from $71.00 to $72.00 and gave the stock an "outperform" rating in a report on Monday, May 5th. Finally, Wells Fargo & Company started coverage on shares of Centerspace in a report on Wednesday, March 19th. They issued an "equal weight" rating and a $68.00 price target for the company. Four analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus 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.