ICA Group Wealth Management LLC Lowers Stock Holdings in Centerspace (NYSE:CSR)

ICA Group Wealth Management LLC reduced its position in shares of Centerspace (NYSE:CSR) by 16.8% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 755 shares of the company’s stock after selling 152 shares during the period. ICA Group Wealth Management LLC’s holdings in Centerspace were worth $51,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Cornercap Investment Counsel Inc. purchased a new position in shares of Centerspace during the second quarter worth $776,000. State of New Jersey Common Pension Fund D boosted its position in shares of Centerspace by 27.6% during the second quarter. State of New Jersey Common Pension Fund D now owns 31,906 shares of the company’s stock worth $2,158,000 after buying an additional 6,906 shares during the period. Victory Capital Management Inc. purchased a new position in shares of Centerspace during the second quarter worth $209,000. Capital Square LLC boosted its position in shares of Centerspace by 18.2% during the second quarter. Capital Square LLC now owns 7,339 shares of the company’s stock worth $518,000 after buying an additional 1,128 shares during the period. Finally, Rothschild Investment LLC purchased a new position in shares of Centerspace during the second quarter worth $42,000. 79.00% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CSR has been the subject of a number of recent research reports. Raymond James lifted their target price on Centerspace from $75.00 to $82.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Piper Sandler lifted their target price on Centerspace from $64.00 to $75.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Royal Bank of Canada lifted their target price on Centerspace from $72.00 to $73.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Finally, BTIG Research lifted their target price on Centerspace from $69.00 to $79.00 and gave the company a “buy” rating in a 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. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $72.29.

Centerspace Stock Up 2.7 %

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

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

Centerspace Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Monday, September 30th will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 3.97%. The ex-dividend date of this dividend is Monday, September 30th. Centerspace’s dividend payout ratio (DPR) is -375.00%.

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.