Pensionfund DSM Netherlands Sells 4,000 Shares of Centerspace (NYSE:CSR)

Pensionfund DSM Netherlands lessened its stake in shares of Centerspace (NYSE:CSR) by 21.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,280 shares of the company’s stock after selling 4,000 shares during the quarter. Pensionfund DSM Netherlands’ holdings in Centerspace were worth $945,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. grew its stake in Centerspace by 35.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 579 shares of the company’s stock valued at $41,000 after acquiring an additional 150 shares in the last quarter. Loomis Sayles & Co. L P raised its position in shares of Centerspace by 3,131.6% in the third quarter. Loomis Sayles & Co. L P now owns 614 shares of the company’s stock worth $43,000 after buying an additional 595 shares in the last quarter. Van ECK Associates Corp grew its position in Centerspace by 15.2% during the third quarter. Van ECK Associates Corp now owns 2,626 shares of the company’s stock worth $186,000 after buying an additional 347 shares in the last quarter. Versor Investments LP purchased a new position in shares of Centerspace during the third quarter worth about $204,000. Finally, abrdn plc bought a new position in shares of Centerspace during the 3rd quarter valued at about $210,000. 79.00% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $76.00 price target on shares of Centerspace in a research note on Wednesday, October 30th. Wedbush started coverage on shares of Centerspace in a research report on Tuesday, December 17th. They set a “neutral” rating and a $72.00 price target on the stock. Finally, Raymond James lowered shares of Centerspace from an “outperform” rating to a “market perform” rating in a report on Monday, October 21st. Four 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, Centerspace presently has a consensus rating of “Hold” and a consensus target price of $75.33.

Centerspace Stock Down 0.9 %

Shares of Centerspace stock traded down $0.58 during trading on Monday, hitting $64.98. The company’s stock had a trading volume of 3,477 shares, compared to its average volume of 40,023. Centerspace has a 52 week low of $52.26 and a 52 week high of $76.16. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.05 and a current ratio of 0.05. The company has a fifty day simple moving average of $69.95 and a two-hundred day simple moving average of $70.81. The company has a market capitalization of $1.08 billion, a PE ratio of -40.36, a P/E/G ratio of 2.04 and a beta of 0.91.

Centerspace (NYSE:CSR) last issued its quarterly earnings data 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 return on equity of 1.72% and a negative net margin of 5.57%. The firm had revenue of $65.03 million for the quarter, compared to analysts’ expectations of $66.35 million. During the same period last year, the company earned $1.20 earnings per share. Equities research analysts predict that Centerspace will post 4.86 earnings per share for the current year.

Centerspace Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Monday, December 30th will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 4.62%. The ex-dividend date of this dividend is Monday, December 30th. Centerspace’s dividend payout ratio is currently -186.34%.

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.