Wellington Management Group LLP Acquires 61,394 Shares of Centerspace (NYSE:CSR)

Wellington Management Group LLP raised its holdings in Centerspace (NYSE:CSR) by 6.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,019,353 shares of the company’s stock after purchasing an additional 61,394 shares during the quarter. Wellington Management Group LLP owned 6.15% of Centerspace worth $71,834,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of CSR. Price T Rowe Associates Inc. MD boosted its stake in Centerspace by 5.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,191 shares of the company’s stock valued at $697,000 after buying an additional 652 shares in the last quarter. Bank of New York Mellon Corp increased its position in Centerspace by 0.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 139,188 shares of the company’s stock worth $9,413,000 after purchasing an additional 605 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in Centerspace by 2.6% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 17,401 shares of the company’s stock valued at $1,177,000 after purchasing an additional 446 shares during the last quarter. Panagora Asset Management Inc. boosted its position in Centerspace by 2.6% in the second quarter. Panagora Asset Management Inc. now owns 27,267 shares of the company’s stock valued at $1,844,000 after buying an additional 694 shares in the last quarter. Finally, Rothschild Investment LLC bought a new stake in shares of Centerspace during the second quarter worth $42,000. Institutional investors own 79.00% of the company’s stock.

Centerspace Stock Down 0.3 %

Shares of CSR opened at $69.85 on Wednesday. The company has a market capitalization of $1.16 billion, a PE ratio of -43.39, a PEG ratio of 2.06 and a beta of 0.89. The stock’s 50-day moving average price is $71.28 and its two-hundred day moving average price is $70.92. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.70. Centerspace has a 12 month low of $52.26 and a 12 month high of $76.16.

Centerspace (NYSE:CSR) last announced its earnings results on Monday, October 28th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $66.35 million. During the same quarter in the previous year, the company earned $1.20 earnings per share. On average, analysts anticipate that Centerspace will post 4.86 EPS for the current year.

Centerspace Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Monday, December 30th will be issued a $0.75 dividend. The ex-dividend date of this dividend is Monday, December 30th. This represents a $3.00 annualized dividend and a yield of 4.29%. Centerspace’s payout ratio is -186.34%.

Analyst Upgrades and Downgrades

CSR has been the topic of several recent research reports. Raymond James downgraded Centerspace from an “outperform” rating to a “market perform” rating in a report on Monday, October 21st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $76.00 price objective on shares of Centerspace in a research note on Wednesday, October 30th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $76.00.

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.