Financial Perspectives Inc Sells 152 Shares of Centerspace (NYSE:CSR)

Financial Perspectives Inc decreased its stake in shares of Centerspace (NYSE:CSR) by 3.9% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 3,750 shares of the company’s stock after selling 152 shares during the period. Financial Perspectives Inc’s holdings in Centerspace were worth $254,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Janus Henderson Group PLC boosted its stake in Centerspace by 1,438.2% during the first quarter. Janus Henderson Group PLC now owns 97,940 shares of the company’s stock valued at $5,597,000 after buying an additional 91,573 shares during the period. Westwood Holdings Group Inc. purchased a new position in shares of Centerspace during the fourth quarter worth about $5,238,000. Cbre Investment Management Listed Real Assets LLC purchased a new position in shares of Centerspace during the fourth quarter worth about $1,708,000. Panagora Asset Management Inc. increased its position in shares of Centerspace by 181.8% in the fourth quarter. Panagora Asset Management Inc. now owns 41,413 shares of the company’s stock worth $2,410,000 after purchasing an additional 26,716 shares during the last quarter. Finally, Centersquare Investment Management LLC purchased a new stake in Centerspace in the fourth quarter valued at approximately $681,000. 79.00% of the stock is owned by hedge funds and other institutional investors.

Centerspace Trading Up 2.7 %

NYSE CSR opened at $75.50 on Monday. The firm has a market cap of $1.13 billion, a PE ratio of -94.38, a price-to-earnings-growth ratio of 2.15 and a beta of 0.90. Centerspace has a 1-year low of $46.74 and a 1-year high of $76.16. The stock has a 50-day moving average of $72.02 and a 200-day moving average of $66.66. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.79.

Centerspace (NYSE:CSR) last released its quarterly earnings data on Monday, July 29th. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of $1.20 by ($1.39). Centerspace had a negative net margin of 2.16% and a negative return on equity of 0.67%. The company had revenue of $65.04 million for the quarter, compared to analysts’ expectations of $65.90 million. During the same period last year, the company posted $1.28 EPS. As a group, sell-side analysts forecast that Centerspace will post 4.83 EPS for the current year.

Centerspace Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Monday, September 30th will be given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.97%. The ex-dividend date is Monday, September 30th. Centerspace’s payout ratio is -375.00%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Raymond James increased their price target on shares of Centerspace from $75.00 to $82.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Royal Bank of Canada lifted their price target on Centerspace from $72.00 to $73.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Piper Sandler increased their price objective on Centerspace from $64.00 to $75.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Finally, BTIG Research boosted their target price on Centerspace from $69.00 to $79.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.29.

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.