Amalgamated Bank Sells 315 Shares of Centerspace (NYSE:CSR)

Amalgamated Bank lowered its position in shares of Centerspace (NYSE:CSR) by 6.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,571 shares of the company’s stock after selling 315 shares during the period. Amalgamated Bank’s holdings in Centerspace were worth $309,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Janus Henderson Group PLC lifted its position in Centerspace by 1,438.2% in the 1st quarter. Janus Henderson Group PLC now owns 97,940 shares of the company’s stock worth $5,597,000 after buying an additional 91,573 shares during the last quarter. Westwood Holdings Group Inc. purchased a new stake in shares of Centerspace in the 4th quarter valued at $5,238,000. Dimensional Fund Advisors LP grew its holdings in shares of Centerspace by 6.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 223,770 shares of the company’s stock valued at $15,134,000 after purchasing an additional 14,440 shares during the last quarter. Centersquare Investment Management LLC purchased a new position in Centerspace in the 4th quarter worth $681,000. Finally, Cornercap Investment Counsel Inc. bought a new stake in Centerspace in the second quarter worth $776,000. 79.00% of the stock is currently owned by hedge funds and other institutional investors.

Centerspace Stock Down 1.7 %

Shares of Centerspace stock opened at $70.39 on Tuesday. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.79. Centerspace has a 12-month low of $46.74 and a 12-month high of $76.16. The company has a market cap of $1.05 billion, a P/E ratio of -87.99, a PEG ratio of 2.18 and a beta of 0.90. The company’s fifty day simple moving average is $72.78 and its two-hundred day simple moving average is $67.97.

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

Centerspace Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Monday, September 30th will be paid 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 4.26%. Centerspace’s payout ratio is -375.00%.

Analysts Set New Price Targets

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

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.