Boston Partners Has $353,000 Holdings in Centerspace (NYSE:CSR)

Boston Partners trimmed its position in Centerspace (NYSE:CSR) by 46.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,332 shares of the company’s stock after selling 4,711 shares during the quarter. Boston Partners’ holdings in Centerspace were worth $353,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in CSR. Intech Investment Management LLC acquired a new position in Centerspace in the 3rd quarter worth approximately $403,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Centerspace by 9.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 275,511 shares of the company’s stock valued at $19,415,000 after buying an additional 23,839 shares in the last quarter. Cerity Partners LLC acquired a new position in Centerspace during the third quarter valued at $746,000. Daiwa Securities Group Inc. lifted its stake in Centerspace by 8.0% in the 3rd quarter. Daiwa Securities Group Inc. now owns 5,032 shares of the company’s stock worth $355,000 after acquiring an additional 372 shares in the last quarter. Finally, Loomis Sayles & Co. L P boosted its position in Centerspace by 3,131.6% during the 3rd quarter. Loomis Sayles & Co. L P now owns 614 shares of the company’s stock worth $43,000 after acquiring an additional 595 shares during the period. 79.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Royal Bank of Canada upped their target price on Centerspace from $72.00 to $73.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Wedbush assumed coverage on shares of Centerspace in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $72.00 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 price target on the stock in a report on Wednesday, January 15th. Finally, Wells Fargo & Company began coverage on Centerspace in a report on Wednesday, March 19th. They set an “equal weight” rating and a $68.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Centerspace presently has a consensus rating of “Hold” and an average price target of $73.63.

Centerspace Stock Down 0.9 %

CSR stock opened at $63.63 on Monday. The firm has a market cap of $1.06 billion, a PE ratio of -50.10 and a beta of 0.91. Centerspace has a 1 year low of $54.90 and a 1 year high of $76.16. The company has a fifty day simple moving average of $62.86 and a 200 day simple moving average of $67.68. 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) last released its quarterly earnings results on Tuesday, February 18th. The company reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $1.36. Centerspace had a negative return on equity of 1.34% and a negative net margin of 4.34%. The company had revenue of $66.41 million during the quarter, compared to the consensus estimate of $65.96 million. Sell-side analysts anticipate that Centerspace will post 4.94 EPS for the current fiscal year.

Centerspace Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 8th. Investors of record on Friday, March 28th will be paid a dividend of $0.77 per share. This is an increase from Centerspace’s previous quarterly dividend of $0.75. The ex-dividend date is Friday, March 28th. This represents a $3.08 annualized dividend and a yield of 4.84%. Centerspace’s dividend payout ratio is presently -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.