Daiwa Securities Group Inc. Grows Position in Centerspace (NYSE:CSR)

Daiwa Securities Group Inc. raised its position in Centerspace (NYSE:CSR) by 8.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,032 shares of the company’s stock after purchasing an additional 372 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Centerspace were worth $355,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Boston Partners bought a new stake in Centerspace during the 1st quarter valued at about $545,000. Price T Rowe Associates Inc. MD raised its stake 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 acquiring an additional 652 shares in the last quarter. Millennium Management LLC raised its stake in shares of Centerspace by 377.3% during the second quarter. Millennium Management LLC now owns 43,604 shares of the company’s stock valued at $2,949,000 after acquiring an additional 34,469 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Centerspace by 3.6% in the third quarter. Principal Financial Group Inc. now owns 81,338 shares of the company’s stock valued at $5,732,000 after purchasing an additional 2,852 shares during the period. Finally, The Manufacturers Life Insurance Company grew its stake in Centerspace by 3.1% in the second 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 in the last quarter. Institutional investors own 79.00% of the company’s stock.

Centerspace Trading Down 1.1 %

Shares of NYSE CSR opened at $72.50 on Monday. The business has a fifty day moving average price of $71.47 and a 200 day moving average price of $70.79. Centerspace has a 1-year low of $52.26 and a 1-year high of $76.16. 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 stock has a market capitalization of $1.20 billion, a P/E ratio of -45.03, a price-to-earnings-growth ratio of 2.13 and a beta of 0.89.

Centerspace (NYSE:CSR) last released its quarterly earnings results 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 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 prior year, the business posted $1.20 earnings per share. Equities research analysts expect that Centerspace will post 4.86 EPS for the current fiscal year.

Centerspace Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Monday, September 30th were issued a dividend of $0.75 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $3.00 annualized dividend and a dividend yield of 4.14%. Centerspace’s dividend payout ratio is presently -186.34%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $76.00 target price on shares of Centerspace in a report on Wednesday, October 30th. Raymond James downgraded Centerspace from an “outperform” rating to a “market perform” rating in a report on Monday, October 21st. Finally, BTIG Research increased their target price on shares of Centerspace from $69.00 to $79.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $76.00.

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.