Amundi Has $1 Million Holdings in Centerspace (NYSE:CSR)

Amundi boosted its holdings in Centerspace (NYSE:CSR) by 53.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,297 shares of the company’s stock after buying an additional 5,667 shares during the quarter. Amundi’s holdings in Centerspace were worth $1,002,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Raymond James Financial Inc. bought a new position in Centerspace in the fourth quarter valued at about $417,000. Smartleaf Asset Management LLC raised its position in Centerspace by 370.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 381 shares of the company’s stock valued at $25,000 after purchasing an additional 300 shares during the last quarter. Oregon Public Employees Retirement Fund raised its position in Centerspace by 8.4% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,861 shares of the company’s stock valued at $255,000 after purchasing an additional 300 shares during the last quarter. Illinois Municipal Retirement Fund raised its position in Centerspace by 6.9% in the fourth quarter. Illinois Municipal Retirement Fund now owns 8,501 shares of the company’s stock valued at $562,000 after purchasing an additional 552 shares during the last quarter. Finally, Amalgamated Bank raised its position in Centerspace by 10.1% in the fourth quarter. Amalgamated Bank now owns 4,882 shares of the company’s stock valued at $323,000 after purchasing an additional 447 shares during the last quarter. 79.00% of the stock is owned by institutional investors and hedge funds.

Centerspace Trading Up 0.2 %

NYSE CSR opened at $63.92 on Thursday. The business has a 50 day simple moving average of $62.74 and a 200 day simple moving average of $67.88. Centerspace has a one year low of $54.76 and a one year high of $76.16. The stock has a market capitalization of $1.07 billion, a P/E ratio of -50.33 and a beta of 0.91. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.04 and a quick ratio of 0.05.

Centerspace (NYSE:CSR) last released its earnings results on Tuesday, February 18th. The company reported $1.21 EPS for the quarter, topping the consensus estimate of ($0.15) by $1.36. Centerspace had a negative return on equity of 1.34% and a negative net margin of 4.34%. The business had revenue of $66.41 million during the quarter, compared to analysts’ expectations of $65.96 million. Research analysts expect that Centerspace will post 4.94 earnings per share for the current year.

Centerspace Increases Dividend

The company 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 represents a $3.08 dividend on an annualized basis and a yield of 4.82%. The ex-dividend date of this dividend is Friday, March 28th. This is a boost from Centerspace’s previous quarterly dividend of $0.75. Centerspace’s dividend payout ratio (DPR) is -242.52%.

Analyst Upgrades and Downgrades

Several research firms have commented on CSR. Royal Bank of Canada increased their target price on Centerspace from $72.00 to $73.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Wedbush began coverage on Centerspace in a research report on Tuesday, December 17th. They set a “neutral” rating and a $72.00 price objective for the company. Janney Montgomery Scott upgraded Centerspace from a “neutral” rating to a “buy” rating and set a $72.00 price objective for the company in a research report on Wednesday, January 15th. Finally, Wells Fargo & Company began coverage on Centerspace in a research report on Wednesday. They set an “equal weight” rating and a $68.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $73.63.

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.