Exchange Traded Concepts LLC Takes $1.81 Million Position in Centerspace (NYSE:CSR)

Exchange Traded Concepts LLC purchased a new position in Centerspace (NYSE:CSR - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 27,993 shares of the company's stock, valued at approximately $1,813,000. Exchange Traded Concepts LLC owned approximately 0.17% of Centerspace at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of CSR. Smartleaf Asset Management LLC increased its holdings in shares of Centerspace by 370.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 381 shares of the company's stock worth $25,000 after acquiring 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 acquiring an additional 470 shares in the last quarter. Summit Investment Advisors Inc. increased its holdings 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 acquiring an additional 229 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of Centerspace in the fourth quarter worth about $196,000. Finally, Van ECK Associates Corp grew its holdings in shares of Centerspace by 19.4% during the fourth quarter. Van ECK Associates Corp now owns 3,135 shares of the company's stock worth $207,000 after buying an additional 509 shares in the last quarter. 79.00% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Royal Bank Of Canada increased their price objective on Centerspace from $71.00 to $72.00 and gave the stock an "outperform" rating in a report on Monday, May 5th. BMO Capital Markets upgraded Centerspace from a "market perform" rating to an "outperform" rating and set a $77.00 price objective for the company in a report on Friday, April 4th. Wells Fargo & Company assumed coverage on Centerspace in a report on Wednesday, March 19th. They set an "equal weight" rating and a $68.00 price objective for the company. Raymond James Financial upgraded Centerspace from an "outperform" rating to a "strong-buy" rating and increased their price objective for the stock from $66.00 to $69.00 in a report on Thursday, May 15th. Finally, Piper Sandler decreased their price objective on Centerspace from $75.00 to $68.00 and set a "neutral" rating for the company in a report on Monday, May 5th. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Centerspace currently has an average rating of "Moderate Buy" and a consensus target price of $71.56.

Centerspace Stock Up 0.3%

NYSE CSR traded up $0.18 during trading hours on Thursday, hitting $62.58. 92,642 shares of the company traded hands, compared to its average volume of 114,383. The business's 50-day moving average is $61.40 and its 200-day moving average is $63.05. Centerspace has a twelve month low of $54.13 and a twelve month high of $76.16. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.05 and a current ratio of 0.05. The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of 12.84 and a beta of 0.75.

Centerspace (NYSE:CSR - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $1.21 EPS for the quarter, meeting the consensus estimate of $1.21. Centerspace had a negative return on equity of 1.30% and a negative net margin of 4.23%. The firm had revenue of $67.09 million during the quarter, compared to analysts' expectations of $66.70 million. Sell-side analysts anticipate that Centerspace will post 4.94 earnings per share for the current year.

Centerspace Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Friday, June 27th will be given a $0.77 dividend. The ex-dividend date is Friday, June 27th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.92%. Centerspace's payout ratio is -275.00%.

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.