D.A. Davidson & CO. Sells 578 Shares of Centerspace (NYSE:CSR)

D.A. Davidson & CO. cut its stake in shares of Centerspace (NYSE:CSR) by 9.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,445 shares of the company’s stock after selling 578 shares during the quarter. D.A. Davidson & CO.’s holdings in Centerspace were worth $384,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Centerspace by 35.0% during the third 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 period. Rothschild Investment LLC acquired a new position in Centerspace during the 2nd quarter worth approximately $42,000. Loomis Sayles & Co. L P raised its stake 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 buying an additional 595 shares during the period. Van ECK Associates Corp boosted its holdings in Centerspace by 15.2% in the third quarter. Van ECK Associates Corp now owns 2,626 shares of the company’s stock worth $186,000 after acquiring an additional 347 shares in the last quarter. Finally, Versor Investments LP acquired a new stake in Centerspace in the third quarter valued at approximately $204,000. 79.00% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on CSR shares. BTIG Research increased their target price on Centerspace from $69.00 to $79.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $76.00 price objective on shares of Centerspace in a research note on Wednesday, October 30th. Finally, Raymond James downgraded shares of Centerspace from an “outperform” rating to a “market perform” rating in a research report on Monday, October 21st. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Centerspace presently has an average rating of “Hold” and a consensus target price of $76.00.

Centerspace Price Performance

CSR opened at $71.18 on Wednesday. Centerspace has a 1 year low of $52.26 and a 1 year high of $76.16. 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 $1.18 billion, a price-to-earnings ratio of -44.21, a P/E/G ratio of 2.13 and a beta of 0.89. The firm’s fifty day moving average price is $71.44 and its two-hundred day moving average price is $70.82.

Centerspace (NYSE:CSR) last issued its quarterly earnings data on Monday, October 28th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $66.35 million. During the same period in the previous year, the company posted $1.20 earnings per share. As a group, analysts anticipate that Centerspace will post 4.86 earnings per share for the current fiscal year.

Centerspace Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Monday, December 30th will be given a $0.75 dividend. The ex-dividend date is Monday, December 30th. This represents a $3.00 annualized dividend and a yield of 4.21%. Centerspace’s dividend payout ratio is currently -186.33%.

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.