Renaissance Technologies LLC Cuts Stock Position in Centerspace (NYSE:CSR)

Renaissance Technologies LLC lowered its stake in shares of Centerspace (NYSE:CSR - Free Report) by 2.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 328,954 shares of the company's stock after selling 8,162 shares during the period. Renaissance Technologies LLC owned about 1.99% of Centerspace worth $21,760,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CSR. Vanguard Group Inc. grew its holdings in shares of Centerspace by 8.2% during the fourth quarter. Vanguard Group Inc. now owns 2,594,366 shares of the company's stock worth $171,617,000 after buying an additional 195,629 shares in the last quarter. State Street Corp boosted its position in Centerspace by 0.5% during the third quarter. State Street Corp now owns 897,749 shares of the company's stock worth $63,931,000 after acquiring an additional 4,263 shares during the last quarter. Geode Capital Management LLC grew its stake in Centerspace by 7.3% in the 4th quarter. Geode Capital Management LLC now owns 415,680 shares of the company's stock worth $27,503,000 after acquiring an additional 28,163 shares during the period. JPMorgan Chase & Co. raised its holdings in Centerspace by 17.7% in the 4th quarter. JPMorgan Chase & Co. now owns 227,399 shares of the company's stock valued at $15,042,000 after acquiring an additional 34,157 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Centerspace by 3.0% during the 4th quarter. Bank of New York Mellon Corp now owns 126,121 shares of the company's stock worth $8,343,000 after purchasing an additional 3,645 shares during the period. 79.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on CSR shares. BMO Capital Markets upgraded Centerspace from a "market perform" rating to an "outperform" rating and set a $77.00 target price on the stock in a research report on Friday, April 4th. Royal Bank of Canada increased their price target on shares of Centerspace from $72.00 to $73.00 and gave the stock an "outperform" rating in a research note on Thursday, February 20th. Wells Fargo & Company began coverage on Centerspace in a report on Wednesday, March 19th. They set an "equal weight" rating and a $68.00 target price for the company. Janney Montgomery Scott upgraded shares of Centerspace from a "neutral" rating to a "buy" rating and set a $72.00 target price on the stock in a report on Wednesday, January 15th. Finally, UBS Group started coverage on shares of Centerspace in a research report on Monday, April 7th. They issued a "neutral" rating and a $67.00 price objective for the company. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, Centerspace presently has an average rating of "Hold" and a consensus target price of $73.30.

Centerspace Trading Up 0.1 %

Shares of CSR traded up $0.05 during midday trading on Friday, hitting $57.60. The stock had a trading volume of 88,454 shares, compared to its average volume of 110,493. Centerspace has a fifty-two week low of $54.13 and a fifty-two week high of $76.16. The firm has a market cap of $963.53 million, a P/E ratio of -45.36 and a beta of 0.79. The company has a current ratio of 0.04, a quick ratio of 0.05 and a debt-to-equity ratio of 0.74. The business has a 50-day simple moving average of $62.47 and a two-hundred day simple moving average of $65.90.

Centerspace (NYSE:CSR - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The company reported $1.21 earnings per share for the quarter, beating analysts' consensus estimates of ($0.15) by $1.36. The firm had revenue of $66.41 million during the quarter, compared to the consensus estimate of $65.96 million. Centerspace had a negative return on equity of 1.34% and a negative net margin of 4.34%. As a group, equities analysts forecast that Centerspace will post 4.94 EPS for the current year.

Centerspace Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 8th. Shareholders of record on Friday, March 28th were issued a $0.77 dividend. The ex-dividend date was Friday, March 28th. This is a boost from Centerspace's previous quarterly dividend of $0.75. This represents a $3.08 annualized dividend and a yield of 5.35%. Centerspace's payout ratio is currently -242.52%.

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.