State of New Jersey Common Pension Fund D Acquires 6,906 Shares of Centerspace (NYSE:CSR)

State of New Jersey Common Pension Fund D grew its holdings in Centerspace (NYSE:CSR) by 27.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,906 shares of the company’s stock after acquiring an additional 6,906 shares during the period. State of New Jersey Common Pension Fund D owned 0.21% of Centerspace worth $2,158,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in CSR. Janus Henderson Group PLC boosted its holdings in Centerspace by 1,438.2% in the first quarter. Janus Henderson Group PLC now owns 97,940 shares of the company’s stock worth $5,597,000 after purchasing an additional 91,573 shares in the last quarter. Westwood Holdings Group Inc. bought a new stake in shares of Centerspace during the 4th quarter worth about $5,238,000. Cbre Investment Management Listed Real Assets LLC bought a new stake in shares of Centerspace during the 4th quarter worth about $1,708,000. Centersquare Investment Management LLC acquired a new position in shares of Centerspace during the 4th quarter valued at about $681,000. Finally, Quest Partners LLC bought a new position in shares of Centerspace in the 4th quarter valued at approximately $661,000. 79.00% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CSR has been the topic of several analyst reports. BTIG Research increased their price target on Centerspace from $69.00 to $79.00 and gave the company a “buy” rating in a report on Monday, August 12th. Raymond James lifted their target price on shares of Centerspace from $75.00 to $82.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Piper Sandler upped their price target on shares of Centerspace from $64.00 to $75.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Finally, Royal Bank of Canada raised their price target on Centerspace from $72.00 to $73.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $72.29.

Centerspace Price Performance

Shares of Centerspace stock opened at $74.19 on Friday. The firm has a fifty day moving average price of $72.34 and a two-hundred day moving average price of $66.97. Centerspace has a fifty-two week low of $46.74 and a fifty-two week high of $76.16. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.04 and a quick ratio of 0.04. The company has a market cap of $1.11 billion, a PE ratio of -92.74, a price-to-earnings-growth ratio of 2.15 and a beta of 0.90.

Centerspace (NYSE:CSR) last released its earnings results on Monday, July 29th. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of $1.20 by ($1.39). Centerspace had a negative return on equity of 0.67% and a negative net margin of 2.16%. The firm had revenue of $65.04 million for the quarter, compared to analyst estimates of $65.90 million. During the same period last year, the business earned $1.28 earnings per share. Analysts expect that Centerspace will post 4.83 EPS for the current year.

Centerspace Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Monday, September 30th will be given a $0.75 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.00 annualized dividend and a yield of 4.04%. Centerspace’s dividend payout ratio (DPR) is currently -375.00%.

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.