Resona Asset Management Co. Ltd. Takes $433,000 Position in Centerspace (NYSE:CSR)

Resona Asset Management Co. Ltd. bought a new position in shares of Centerspace (NYSE:CSR - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 6,570 shares of the company's stock, valued at approximately $433,000.

Several other large investors have also recently bought and sold shares of the business. Yousif Capital Management LLC increased its position in Centerspace by 4.6% during the fourth quarter. Yousif Capital Management LLC now owns 6,226 shares of the company's stock worth $412,000 after buying an additional 276 shares during the period. Oregon Public Employees Retirement Fund raised its position in Centerspace by 8.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,861 shares of the company's stock valued at $255,000 after purchasing an additional 300 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in Centerspace by 370.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 381 shares of the company's stock worth $25,000 after purchasing an additional 300 shares during the period. Daiwa Securities Group Inc. grew its position in Centerspace by 7.3% during the 4th quarter. Daiwa Securities Group Inc. now owns 5,400 shares of the company's stock worth $357,000 after purchasing an additional 368 shares during the last quarter. Finally, Maryland State Retirement & Pension System increased its stake in Centerspace by 7.3% in the fourth quarter. Maryland State Retirement & Pension System now owns 5,581 shares of the company's stock valued at $369,000 after purchasing an additional 382 shares during the period. Hedge funds and other institutional investors own 79.00% of the company's stock.

Analyst Ratings Changes

CSR has been the subject of several recent research reports. Royal Bank of Canada increased their target price 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 research note on Wednesday, March 19th. They issued an "equal weight" rating and a $68.00 target price on the stock. UBS Group assumed coverage on Centerspace in a research note on Monday, April 7th. They set a "neutral" rating and a $67.00 price target for the company. BMO Capital Markets upgraded shares of Centerspace from a "market perform" rating to an "outperform" rating and set a $77.00 price objective on the stock in a research report on Friday, April 4th. Finally, Janney Montgomery Scott upgraded shares of Centerspace from a "neutral" rating to a "buy" rating and set a $72.00 price objective for the company in a research report on Wednesday, January 15th. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $73.30.

Centerspace Price Performance

Shares of CSR traded up $1.03 on Thursday, reaching $58.58. The stock had a trading volume of 19,941 shares, compared to its average volume of 110,093. The firm has a 50-day moving average of $62.54 and a 200 day moving average of $65.99. The firm has a market capitalization of $979.78 million, a PE ratio of -46.11 and a beta of 0.79. Centerspace has a twelve month low of $54.13 and a twelve month high of $76.16. 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 (NYSE:CSR - Get Free Report) last released its quarterly earnings data on Tuesday, February 18th. The company reported $1.21 EPS for the quarter, topping the consensus estimate of ($0.15) by $1.36. Centerspace had a negative net margin of 4.34% and a negative return on equity of 1.34%. The business had revenue of $66.41 million for the quarter, compared to analyst estimates of $65.96 million. Sell-side analysts expect that Centerspace will post 4.94 EPS for the current year.

Centerspace Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 8th. Stockholders of record on Friday, March 28th were issued a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 5.26%. This is a boost from Centerspace's previous quarterly dividend of $0.75. The ex-dividend date was Friday, March 28th. Centerspace's payout ratio is -242.52%.

Centerspace Company 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.