Two Sigma Advisers LP Buys 14,600 Shares of Centerspace (NYSE:CSR)

Two Sigma Advisers LP increased its stake in Centerspace (NYSE:CSR - Free Report) by 286.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,700 shares of the company's stock after buying an additional 14,600 shares during the period. Two Sigma Advisers LP owned 0.12% of Centerspace worth $1,303,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Principal Financial Group Inc. grew its holdings in shares of Centerspace by 11.6% during the 4th quarter. Principal Financial Group Inc. now owns 90,753 shares of the company's stock worth $6,003,000 after acquiring an additional 9,415 shares during the period. Intech Investment Management LLC boosted its position in shares of Centerspace by 76.8% during the fourth quarter. Intech Investment Management LLC now owns 10,108 shares of the company's stock valued at $669,000 after purchasing an additional 4,391 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Centerspace in the fourth quarter worth $417,000. Geode Capital Management LLC raised its holdings in Centerspace by 7.3% in the fourth quarter. Geode Capital Management LLC now owns 415,680 shares of the company's stock worth $27,503,000 after purchasing an additional 28,163 shares in the last quarter. Finally, Asset Management One Co. Ltd. raised its holdings in Centerspace by 8.5% in the fourth quarter. Asset Management One Co. Ltd. now owns 25,091 shares of the company's stock worth $1,653,000 after purchasing an additional 1,975 shares in the last quarter. 79.00% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. BMO Capital Markets upgraded shares of Centerspace from a "market perform" rating to an "outperform" rating and set a $77.00 target price on the stock in a report on Friday, April 4th. Royal Bank of Canada boosted their price objective on shares of Centerspace from $71.00 to $72.00 and gave the stock an "outperform" rating in a research note on Monday, May 5th. Wells Fargo & Company began coverage on shares of Centerspace in a research note on Wednesday, March 19th. They set an "equal weight" rating and a $68.00 target price for the company. Piper Sandler lowered their target price 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. Finally, Raymond James upgraded shares of Centerspace from an "outperform" rating to a "strong-buy" rating and upped their price target 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 issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $71.56.

Centerspace Stock Performance

Shares of NYSE CSR traded down $0.33 during trading on Wednesday, reaching $63.39. 5,615 shares of the company traded hands, compared to its average volume of 112,890. The firm has a 50 day simple moving average of $60.70 and a 200-day simple moving average of $63.69. The stock has a market capitalization of $1.06 billion, a PE ratio of -49.91 and a beta of 0.75. The company has a quick ratio of 0.05, a current ratio of 0.04 and a debt-to-equity ratio of 0.74. Centerspace has a 52-week low of $54.13 and a 52-week high of $76.16.

Centerspace (NYSE:CSR - Get Free Report) last released 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 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 analyst estimates of $66.70 million. Equities research analysts anticipate that Centerspace will post 4.94 earnings per share for the current year.

Centerspace Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Friday, June 27th will be issued a dividend of $0.77 per share. The ex-dividend date is Friday, June 27th. This represents a $3.08 dividend on an annualized basis and a yield of 4.86%. Centerspace's dividend payout ratio is currently -275.00%.

Centerspace Profile

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.