Wellington Management Group LLP Sells 215,382 Shares of Centerspace (NYSE:CSR)

Wellington Management Group LLP lowered its stake in Centerspace (NYSE:CSR - Free Report) by 21.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 803,971 shares of the company's stock after selling 215,382 shares during the period. Wellington Management Group LLP owned approximately 4.81% of Centerspace worth $53,183,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of CSR. California State Teachers Retirement System boosted its position in Centerspace by 1.9% during the 4th quarter. California State Teachers Retirement System now owns 14,401 shares of the company's stock valued at $953,000 after acquiring an additional 268 shares in the last quarter. Phocas Financial Corp. boosted its position in Centerspace by 8.4% during the 4th quarter. Phocas Financial Corp. now owns 58,483 shares of the company's stock valued at $3,869,000 after acquiring an additional 4,542 shares in the last quarter. Employees Retirement System of Texas lifted its holdings in shares of Centerspace by 59.3% during the fourth quarter. Employees Retirement System of Texas now owns 43,000 shares of the company's stock valued at $2,844,000 after purchasing an additional 16,000 shares during the last quarter. Public Employees Retirement System of Ohio lifted its holdings in shares of Centerspace by 7.3% during the fourth quarter. Public Employees Retirement System of Ohio now owns 23,691 shares of the company's stock valued at $1,567,000 after purchasing an additional 1,621 shares during the last quarter. Finally, Westwood Holdings Group Inc. lifted its holdings in shares of Centerspace by 13.4% during the fourth quarter. Westwood Holdings Group Inc. now owns 113,104 shares of the company's stock valued at $7,482,000 after purchasing an additional 13,386 shares during the last quarter. 79.00% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on CSR shares. Raymond James upgraded shares of Centerspace from an "outperform" rating to a "strong-buy" rating and boosted their price objective for the stock from $66.00 to $69.00 in a report on Thursday, May 15th. BMO Capital Markets upgraded shares of Centerspace from a "market perform" rating to an "outperform" rating and set a $77.00 price objective for the company in a report on Friday, April 4th. UBS Group started coverage on shares of Centerspace in a report on Monday, April 7th. They issued a "neutral" rating and a $67.00 price objective for the company. Wells Fargo & Company initiated coverage on shares of Centerspace in a report on Wednesday, March 19th. They issued an "equal weight" rating and a $68.00 price objective for the company. Finally, 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 research note on Monday, May 5th. Four research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $71.56.

Centerspace Stock Performance

Shares of CSR stock traded down $0.28 during mid-day trading on Tuesday, reaching $63.57. 23,071 shares of the company's stock traded hands, compared to its average volume of 112,785. Centerspace has a 12 month low of $54.13 and a 12 month high of $76.16. The firm has a 50 day moving average price of $60.71 and a two-hundred day moving average price of $63.69. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.05 and a current ratio of 0.04. The firm has a market capitalization of $1.06 billion, a PE ratio of -50.06 and a beta of 0.75.

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, 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. On average, research analysts forecast that Centerspace will post 4.94 EPS for the current year.

Centerspace Announces Dividend

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 issued a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 4.85%. 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.