Janus Henderson Group PLC Sells 71,363 Shares of Centerspace (NYSE:CSR)

Janus Henderson Group PLC trimmed its stake in shares of Centerspace (NYSE:CSR) by 91.9% in the third quarter, Holdings Channel.com reports. The fund owned 6,290 shares of the company’s stock after selling 71,363 shares during the quarter. Janus Henderson Group PLC’s holdings in Centerspace were worth $443,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CSR. Intech Investment Management LLC bought a new position in Centerspace during the 3rd quarter worth approximately $403,000. Charles Schwab Investment Management Inc. increased its position 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 worth $19,415,000 after buying an additional 23,839 shares during the period. Millennium Management LLC raised its stake in Centerspace by 377.3% during the second quarter. Millennium Management LLC now owns 43,604 shares of the company’s stock worth $2,949,000 after buying an additional 34,469 shares during the last quarter. Cerity Partners LLC acquired a new position in Centerspace in the third quarter valued at $746,000. Finally, Principal Financial Group Inc. boosted its position in Centerspace by 3.6% during the third quarter. Principal Financial Group Inc. now owns 81,338 shares of the company’s stock valued at $5,732,000 after acquiring an additional 2,852 shares during the last quarter. 79.00% of the stock is owned by institutional investors and hedge funds.

Centerspace Price Performance

CSR stock opened at $69.45 on Monday. 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’s 50-day moving average is $71.21 and its 200-day moving average is $70.98. The stock has a market capitalization of $1.15 billion, a PE ratio of -43.14, a price-to-earnings-growth ratio of 2.05 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 announced its quarterly earnings results on Monday, October 28th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate 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 quarter in the previous year, the company posted $1.20 EPS. Equities research analysts expect that Centerspace will post 4.86 EPS for the current fiscal year.

Centerspace Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Monday, December 30th will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 4.32%. The ex-dividend date is Monday, December 30th. Centerspace’s payout ratio is currently -186.34%.

Analyst Ratings Changes

CSR has been the subject of several research analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $76.00 price objective on shares of Centerspace in a research report on Wednesday, October 30th. Raymond James lowered Centerspace from an “outperform” rating to a “market perform” rating in a research note on Monday, October 21st. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $76.00.

About Centerspace

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.