UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 85,441 Shares of Centerspace (NYSE:CSR)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its holdings in shares of Centerspace (NYSE:CSR - Free Report) by 79.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,379 shares of the company's stock after selling 85,441 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.14% of Centerspace worth $1,480,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CSR. Principal Financial Group Inc. raised its stake in 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 lifted its position in shares of Centerspace by 76.8% in the fourth quarter. Intech Investment Management LLC now owns 10,108 shares of the company's stock worth $669,000 after buying an additional 4,391 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Centerspace in the fourth quarter worth about $417,000. Geode Capital Management LLC boosted its position in shares of Centerspace by 7.3% during the 4th quarter. Geode Capital Management LLC now owns 415,680 shares of the company's stock valued at $27,503,000 after acquiring an additional 28,163 shares during the last quarter. Finally, Asset Management One Co. Ltd. lifted its position in Centerspace by 8.5% during the fourth quarter. Asset Management One Co. Ltd. now owns 25,091 shares of the company's stock valued at $1,653,000 after purchasing an additional 1,975 shares during the last quarter. 79.00% of the stock is owned by hedge funds and other institutional investors.

Centerspace Stock Up 0.2%

CSR stock opened at $63.80 on Monday. Centerspace has a 12 month low of $54.13 and a 12 month high of $76.16. The company has a market cap of $1.07 billion, a price-to-earnings ratio of -50.23 and a beta of 0.75. The firm has a 50-day moving average of $60.66 and a two-hundred day moving average of $63.43. The company has a current ratio of 0.04, a quick ratio of 0.05 and a debt-to-equity ratio of 0.74.

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

Centerspace Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Friday, June 27th will be paid a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 4.83%. The ex-dividend date of this dividend is Friday, June 27th. Centerspace's payout ratio is -275.00%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on CSR shares. Wells Fargo & Company began coverage on Centerspace in a research note on Wednesday, March 19th. They issued an "equal weight" rating and a $68.00 price objective for the company. Piper Sandler lowered their price objective on shares of Centerspace from $75.00 to $68.00 and set a "neutral" rating for the company in a research report on Monday, May 5th. BMO Capital Markets raised Centerspace from a "market perform" rating to an "outperform" rating and set a $77.00 price target on the stock in a research 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. Finally, Raymond James raised Centerspace from an "outperform" rating to a "strong-buy" rating and lifted their price target for the stock from $66.00 to $69.00 in a research report on Thursday, May 15th. 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. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target 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.

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