Two Sigma Investments LP Grows Holdings in Centerspace (NYSE:CSR)

Two Sigma Investments LP grew its holdings in Centerspace (NYSE:CSR - Free Report) by 34.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 41,022 shares of the company's stock after buying an additional 10,616 shares during the period. Two Sigma Investments LP owned 0.25% of Centerspace worth $2,714,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Summit Investment Advisors Inc. raised 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 valued at $115,000 after buying an additional 229 shares during the last quarter. Yousif Capital Management LLC raised its position in shares of Centerspace by 4.6% in the fourth quarter. Yousif Capital Management LLC now owns 6,226 shares of the company's stock valued at $412,000 after buying an additional 276 shares during the last quarter. Oregon Public Employees Retirement Fund raised its position in shares of Centerspace by 8.4% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,861 shares of the company's stock valued at $255,000 after buying an additional 300 shares during the last quarter. Smartleaf Asset Management LLC raised its position in shares of Centerspace by 370.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 381 shares of the company's stock valued at $25,000 after buying an additional 300 shares during the last quarter. Finally, Comerica Bank raised its position in shares of Centerspace by 5.6% in the fourth quarter. Comerica Bank now owns 5,938 shares of the company's stock valued at $393,000 after buying an additional 313 shares during the last quarter. 79.00% of the stock is currently owned by institutional investors and hedge funds.

Centerspace Stock Up 0.3%

NYSE CSR traded up $0.16 on Wednesday, hitting $63.87. 74,430 shares of the stock were exchanged, compared to its average volume of 113,307. 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 fifty-two week low of $54.13 and a fifty-two week high of $76.16. The company has a market cap of $1.07 billion, a PE ratio of -50.29 and a beta of 0.75. The company has a 50-day moving average price of $60.70 and a 200-day moving average price of $63.69.

Centerspace (NYSE:CSR - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $1.21 EPS for the quarter, hitting 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 company 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 EPS for the current fiscal year.

Centerspace Announces Dividend

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 issued a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 4.82%. The ex-dividend date of this dividend is Friday, June 27th. Centerspace's payout ratio is -275.00%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Royal Bank of Canada lifted their target price 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 assumed 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 on the stock. Piper Sandler reduced their target price 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. BMO Capital Markets upgraded shares of Centerspace from a "market perform" rating to an "outperform" rating and set a $77.00 price target for the company in a research report on Friday, April 4th. Finally, Raymond James raised Centerspace from an "outperform" rating to a "strong-buy" rating and increased their target price for the stock from $66.00 to $69.00 in a research note on Thursday, May 15th. Four research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $71.56.

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.