Exchange Traded Concepts LLC Buys Shares of 27,993 Centerspace (NYSE:CSR)

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

Other large investors have also made changes to their positions in the company. Smartleaf Asset Management LLC raised its position in shares of Centerspace by 370.4% during 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 during the last quarter. Sterling Capital Management LLC raised its holdings in shares of Centerspace by 903.8% during the fourth quarter. Sterling Capital Management LLC now owns 522 shares of the company's stock valued at $35,000 after acquiring an additional 470 shares during the last quarter. Summit Investment Advisors Inc. raised its stake in Centerspace by 15.2% in the 4th quarter. Summit Investment Advisors Inc. now owns 1,732 shares of the company's stock valued at $115,000 after purchasing an additional 229 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in Centerspace in the 4th quarter valued at $196,000. Finally, Van ECK Associates Corp raised its stake in Centerspace by 19.4% in the 4th quarter. Van ECK Associates Corp now owns 3,135 shares of the company's stock valued at $207,000 after purchasing an additional 509 shares during the last quarter. 79.00% of the stock is owned by institutional investors and hedge funds.

Centerspace Trading Down 0.3%

CSR stock traded down $0.20 during midday trading on Friday, hitting $62.35. 199,620 shares of the company's stock were exchanged, compared to its average volume of 113,700. The business has a 50-day simple moving average of $61.61 and a two-hundred day simple moving average of $62.86. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $1.04 billion, a PE ratio of -55.67 and a beta of 0.75. Centerspace has a 1-year low of $54.13 and a 1-year high of $76.16.

Centerspace (NYSE:CSR - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $1.21 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates 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 the consensus estimate of $66.70 million. On average, sell-side analysts predict that Centerspace will post 4.94 EPS for the current fiscal year.

Centerspace Dividend Announcement

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 issued a $0.77 dividend. The ex-dividend date is Friday, June 27th. This represents a $3.08 annualized dividend and a yield of 4.94%. Centerspace's dividend payout ratio (DPR) is presently -275.00%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on CSR shares. BMO Capital Markets upgraded shares of Centerspace from a "market perform" rating to an "outperform" rating and set a $77.00 target price for the company in a research report on Friday, April 4th. Piper Sandler cut their price objective on shares of Centerspace from $75.00 to $68.00 and set a "neutral" rating for the company in a report on Monday, May 5th. UBS Group initiated coverage on Centerspace in a report on Monday, April 7th. They issued a "neutral" rating and a $67.00 price target for the company. Royal Bank Of Canada increased their price target on Centerspace from $71.00 to $72.00 and gave the company an "outperform" rating in a report on Monday, May 5th. Finally, Raymond James Financial raised Centerspace from an "outperform" rating to a "strong-buy" rating and raised their target price for the stock from $66.00 to $69.00 in a research note on Thursday, May 15th. Four equities research 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's stock. Based on data from MarketBeat, Centerspace currently has an average rating of "Moderate Buy" and an average target price 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.