Daiwa Securities Group Inc. Has $357,000 Stock Position in Centerspace (NYSE:CSR)

Daiwa Securities Group Inc. increased its position in Centerspace (NYSE:CSR) by 7.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,400 shares of the company’s stock after purchasing an additional 368 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Centerspace were worth $357,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC increased its position in Centerspace by 370.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 381 shares of the company’s stock worth $25,000 after purchasing an additional 300 shares during the period. Loomis Sayles & Co. L P grew its stake in shares of Centerspace by 3,131.6% during the third quarter. Loomis Sayles & Co. L P now owns 614 shares of the company’s stock worth $43,000 after purchasing an additional 595 shares during the period. KBC Group NV grew its stake in shares of Centerspace by 75.9% during the fourth quarter. KBC Group NV now owns 1,080 shares of the company’s stock worth $71,000 after purchasing an additional 466 shares during the period. Versor Investments LP acquired a new stake in shares of Centerspace during the third quarter worth $204,000. Finally, Systematic Financial Management LP acquired a new stake in shares of Centerspace during the third quarter worth $220,000. 79.00% of the stock is currently owned by institutional investors and hedge funds.

Centerspace Stock Up 1.9 %

CSR stock opened at $63.07 on Monday. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.04 and a quick ratio of 0.05. The business has a 50-day moving average of $62.63 and a 200-day moving average of $68.06. The stock has a market capitalization of $1.05 billion, a P/E ratio of -49.66 and a beta of 0.91. Centerspace has a fifty-two week low of $54.50 and a fifty-two week high of $76.16.

Centerspace (NYSE:CSR) last released its quarterly earnings data on Tuesday, February 18th. The company reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $1.36. The firm had revenue of $66.41 million for the quarter, compared to analyst estimates of $65.96 million. Centerspace had a negative return on equity of 1.34% and a negative net margin of 4.34%. On average, sell-side analysts anticipate that Centerspace will post 4.94 earnings per share for the current fiscal year.

Centerspace Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 8th. Shareholders of record on Friday, March 28th will be paid a $0.77 dividend. This is a positive change from Centerspace’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Friday, March 28th. This represents a $3.08 annualized dividend and a yield of 4.88%. Centerspace’s dividend payout ratio is currently -242.52%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Royal Bank of Canada lifted their price objective on Centerspace from $72.00 to $73.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Wedbush assumed coverage on Centerspace in a research note on Tuesday, December 17th. They set a “neutral” rating and a $72.00 price objective for the company. Finally, Janney Montgomery Scott raised Centerspace from a “neutral” rating to a “buy” rating and set a $72.00 price objective for the company in a research note on Wednesday, January 15th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $74.43.

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.