State of Alaska Department of Revenue Increases Stake in Centerspace (NYSE:CSR)

State of Alaska Department of Revenue boosted its stake in Centerspace (NYSE:CSR) by 1.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,110 shares of the company’s stock after buying an additional 208 shares during the period. State of Alaska Department of Revenue owned 0.11% of Centerspace worth $1,134,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. UniSuper Management Pty Ltd grew its position in shares of Centerspace by 199.4% in the 1st quarter. UniSuper Management Pty Ltd now owns 12,785 shares of the company’s stock worth $731,000 after buying an additional 8,515 shares during the period. Boston Partners bought a new position in shares of Centerspace during the first quarter valued at approximately $545,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Centerspace by 5.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,191 shares of the company’s stock valued at $697,000 after purchasing an additional 652 shares during the last quarter. Millennium Management LLC boosted its position in shares of Centerspace by 377.3% in the 2nd quarter. Millennium Management LLC now owns 43,604 shares of the company’s stock worth $2,949,000 after purchasing an additional 34,469 shares in the last quarter. Finally, Janus Henderson Group PLC grew its stake in shares of Centerspace by 1,438.2% in the 1st quarter. Janus Henderson Group PLC now owns 97,940 shares of the company’s stock worth $5,597,000 after buying an additional 91,573 shares during the last quarter. 79.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Raymond James cut Centerspace from an “outperform” rating to a “market perform” rating in a research note on Monday, October 21st. BTIG Research upped their price target on shares of Centerspace from $69.00 to $79.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Piper Sandler raised their price objective on shares of Centerspace from $64.00 to $75.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $76.00 target price on shares of Centerspace in a research note on Wednesday, October 30th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Centerspace has a consensus rating of “Hold” and an average target price of $76.00.

Centerspace Price Performance

Shares of NYSE:CSR opened at $68.51 on Tuesday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.04 and a current ratio of 0.05. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of -42.55, a price-to-earnings-growth ratio of 2.05 and a beta of 0.89. The business has a 50-day simple moving average of $72.03 and a two-hundred day simple moving average of $70.11. Centerspace has a fifty-two week low of $50.36 and a fifty-two week high of $76.16.

Centerspace (NYSE:CSR) last issued its quarterly earnings data on Monday, October 28th. The company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $66.35 million. During the same quarter last year, the company earned $1.20 EPS. On average, analysts expect that Centerspace will post 4.85 earnings per share for the current year.

Centerspace Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Monday, September 30th were given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 4.38%. The ex-dividend date of this dividend was Monday, September 30th. Centerspace’s dividend payout ratio (DPR) is presently -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.