Barclays PLC Acquires 96,638 Shares of Centerspace (NYSE:CSR)

Barclays PLC boosted its holdings in Centerspace (NYSE:CSR) by 1,553.4% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 102,859 shares of the company’s stock after purchasing an additional 96,638 shares during the period. Barclays PLC’s holdings in Centerspace were worth $7,249,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Centerspace by 35.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 579 shares of the company’s stock worth $41,000 after buying an additional 150 shares during the period. Asset Management One Co. Ltd. grew its position in Centerspace by 0.7% during the 3rd quarter. Asset Management One Co. Ltd. now owns 23,116 shares of the company’s stock worth $1,629,000 after acquiring an additional 170 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in Centerspace by 3.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,736 shares of the company’s stock worth $388,000 after purchasing an additional 171 shares during the period. State of Alaska Department of Revenue increased its stake in Centerspace by 1.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 16,110 shares of the company’s stock worth $1,134,000 after purchasing an additional 208 shares during the period. Finally, MetLife Investment Management LLC lifted its position in Centerspace by 3.4% in the third quarter. MetLife Investment Management LLC now owns 9,091 shares of the company’s stock valued at $641,000 after purchasing an additional 303 shares during the last quarter. 79.00% of the stock is currently owned by hedge funds and other institutional investors.

Centerspace Stock Performance

NYSE:CSR opened at $65.71 on Thursday. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.70. Centerspace has a twelve month low of $52.26 and a twelve month high of $76.16. The stock has a market cap of $1.09 billion, a P/E ratio of -40.81, a price-to-earnings-growth ratio of 2.05 and a beta of 0.89. The firm’s fifty day simple moving average is $71.08 and its 200 day simple moving average is $70.96.

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 net margin of 5.57% and a negative return on equity of 1.72%. The company had revenue of $65.03 million for the quarter, compared to analysts’ expectations of $66.35 million. During the same quarter in the prior year, the firm earned $1.20 EPS. As a group, research analysts predict that Centerspace will post 4.86 EPS for the current year.

Centerspace Announces Dividend

The company 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 dividend of $0.75 per share. The ex-dividend date of this dividend is Monday, December 30th. This represents a $3.00 annualized dividend and a dividend yield of 4.57%. Centerspace’s dividend payout ratio is presently -186.34%.

Analyst Upgrades and Downgrades

CSR has been the topic of several recent analyst reports. Raymond James cut shares of Centerspace from an “outperform” rating to a “market perform” rating in a report on Monday, October 21st. Wedbush assumed coverage on shares of Centerspace in a report on Tuesday. They issued a “neutral” rating and a $72.00 price target on the stock. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $76.00 price objective on shares of Centerspace in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $75.33.

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.