Capital Square LLC Increases Stock Position in Centerspace (NYSE:CSR)

by · The Markets Daily

Capital Square LLC boosted its position in Centerspace (NYSE:CSR – Free Report) by 9.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,001 shares of the company’s stock after acquiring an additional 662 shares during the period. Capital Square LLC’s holdings in Centerspace were worth $564,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. grew its position in Centerspace by 35.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 579 shares of the company’s stock valued at $41,000 after purchasing an additional 150 shares during the last quarter. Asset Management One Co. Ltd. grew its stake in shares of Centerspace by 0.7% during the 3rd quarter. Asset Management One Co. Ltd. now owns 23,116 shares of the company’s stock valued at $1,629,000 after purchasing an additional 170 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of Centerspace by 3.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,736 shares of the company’s stock valued at $388,000 after purchasing an additional 171 shares during the last quarter. State of Alaska Department of Revenue raised its position in Centerspace by 1.3% in the third quarter. State of Alaska Department of Revenue now owns 16,110 shares of the company’s stock worth $1,134,000 after acquiring an additional 208 shares during the period. Finally, Van ECK Associates Corp grew its position in shares of Centerspace by 15.2% during the 3rd quarter. Van ECK Associates Corp now owns 2,626 shares of the company’s stock valued at $186,000 after acquiring an additional 347 shares during the period. 79.00% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CSR. Piper Sandler lifted their target price on Centerspace from $64.00 to $75.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Raymond James cut shares of Centerspace from an “outperform” rating to a “market perform” rating in a research note on Monday, October 21st. Royal Bank of Canada reissued an “outperform” rating and set a $76.00 price target on shares of Centerspace in a report on Wednesday, October 30th. Finally, BTIG Research increased their target price on Centerspace from $69.00 to $79.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $76.00.

View Our Latest Stock Analysis on CSR

Centerspace Stock Up 0.9 %

Shares of NYSE:CSR traded up $0.67 during mid-day trading on Monday, reaching $74.38. The stock had a trading volume of 5,388 shares, compared to its average volume of 103,928. The business’s 50 day moving average price is $71.56 and its 200 day moving average price is $70.70. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.05 and a quick ratio of 0.05. Centerspace has a 1 year low of $52.26 and a 1 year high of $76.16.

Centerspace (NYSE:CSR – Get Free Report) last issued its quarterly earnings data on Monday, October 28th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.17 by ($1.57). Centerspace had a negative return on equity of 1.72% and a negative net margin of 5.57%. The firm had revenue of $65.03 million for the quarter, compared to analysts’ expectations of $66.35 million. During the same period last year, the company earned $1.20 earnings per share. Sell-side analysts expect that Centerspace will post 4.86 EPS for the current fiscal year.

Centerspace Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Monday, September 30th were paid a $0.75 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 4.03%. Centerspace’s payout ratio is currently -186.33%.

About Centerspace

(Free Report)

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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