Penserra Capital Management LLC Cuts Position in Centerspace (NYSE:CSR)

Penserra Capital Management LLC trimmed its holdings in shares of Centerspace (NYSE:CSR) by 2.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 8,975 shares of the company’s stock after selling 236 shares during the period. Penserra Capital Management LLC owned approximately 0.05% of Centerspace worth $632,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. State Board of Administration of Florida Retirement System raised its position in shares of Centerspace by 20.9% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 5,214 shares of the company’s stock worth $285,000 after purchasing an additional 900 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Centerspace by 0.4% during the first quarter. Vanguard Group Inc. now owns 2,401,497 shares of the company’s stock valued at $137,222,000 after buying an additional 9,984 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in Centerspace by 6.0% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 30,741 shares of the company’s stock worth $1,758,000 after buying an additional 1,740 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Centerspace by 5.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,191 shares of the company’s stock worth $697,000 after buying an additional 652 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its stake in Centerspace by 1,438.2% during the 1st quarter. Janus Henderson Group PLC now owns 97,940 shares of the company’s stock valued at $5,597,000 after acquiring an additional 91,573 shares during the period. 79.00% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CSR has been the topic of several research reports. Raymond James cut shares of Centerspace from an “outperform” rating to a “market perform” rating in a report on Monday, October 21st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $76.00 price target on shares of Centerspace in a research report on Wednesday, October 30th. Piper Sandler raised their price objective on shares of Centerspace from $64.00 to $75.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Finally, BTIG Research upped their price objective on Centerspace from $69.00 to $79.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $76.00.

Centerspace Price Performance

Shares of NYSE:CSR opened at $73.27 on Thursday. The firm’s 50 day simple moving average is $71.52 and its two-hundred day simple moving average is $70.73. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.05 and a quick ratio of 0.05. The company has a market capitalization of $1.21 billion, a P/E ratio of -45.51, a P/E/G ratio of 2.16 and a beta of 0.89. Centerspace has a 1-year low of $52.26 and a 1-year high of $76.16.

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

Centerspace Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Monday, September 30th were given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 4.09%. The ex-dividend date was Monday, September 30th. Centerspace’s payout ratio is currently -186.34%.

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.