Millennium Management LLC Reduces Stock Position in Centerspace (NYSE:CSR)

Millennium Management LLC lessened its holdings in shares of Centerspace (NYSE:CSR - Free Report) by 41.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 45,190 shares of the company's stock after selling 32,651 shares during the period. Millennium Management LLC owned 0.27% of Centerspace worth $2,989,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Centerspace by 7.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,503 shares of the company's stock worth $959,000 after purchasing an additional 1,024 shares during the period. Graham Capital Management L.P. acquired a new position in Centerspace in the fourth quarter valued at $227,000. Deutsche Bank AG lifted its holdings in Centerspace by 28.5% in the fourth quarter. Deutsche Bank AG now owns 19,400 shares of the company's stock valued at $1,283,000 after buying an additional 4,301 shares during the period. Cubist Systematic Strategies LLC lifted its holdings in Centerspace by 163.1% in the fourth quarter. Cubist Systematic Strategies LLC now owns 28,052 shares of the company's stock valued at $1,856,000 after buying an additional 17,391 shares during the period. Finally, Centiva Capital LP acquired a new position in Centerspace in the fourth quarter valued at $419,000. Institutional investors and hedge funds own 79.00% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Royal Bank of Canada boosted their target price on shares of Centerspace from $71.00 to $72.00 and gave the company an "outperform" rating in a report on Monday, May 5th. Raymond James upgraded shares of Centerspace from an "outperform" rating to a "strong-buy" rating and upped their price objective for the company from $66.00 to $69.00 in a report on Thursday, May 15th. Piper Sandler dropped their price objective on shares of Centerspace from $75.00 to $68.00 and set a "neutral" rating on the stock in a report on Monday, May 5th. BMO Capital Markets upgraded shares of 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. Finally, UBS Group assumed coverage on shares of Centerspace in a research report on Monday, April 7th. They set a "neutral" rating and a $67.00 target price for the company. Four analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Centerspace currently has a consensus rating of "Moderate Buy" and a consensus price target of $71.56.

Centerspace Stock Up 0.3%

CSR stock traded up $0.16 during trading on Wednesday, reaching $63.87. The stock had a trading volume of 74,430 shares, compared to its average volume of 113,307. Centerspace has a one year low of $54.13 and a one year high of $76.16. The company has a quick ratio of 0.05, a current ratio of 0.04 and a debt-to-equity ratio of 0.74. The company's 50 day moving average is $60.70 and its two-hundred day moving average is $63.69. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of -50.29 and a beta of 0.75.

Centerspace (NYSE:CSR - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $1.21 earnings per share for the quarter, meeting analysts' consensus estimates of $1.21. Centerspace had a negative net margin of 4.34% and a negative return on equity of 1.34%. The firm had revenue of $67.09 million during the quarter, compared to the consensus estimate of $66.70 million. Equities research analysts forecast that Centerspace will post 4.94 EPS for the current year.

Centerspace Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Friday, June 27th will be given a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.82%. The ex-dividend date of this dividend is Friday, June 27th. Centerspace's dividend payout ratio is currently -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.