Maryland State Retirement & Pension System Raises Stake in Centerspace (NYSE:CSR)

Maryland State Retirement & Pension System lifted its position in shares of Centerspace (NYSE:CSR) by 7.3% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 5,581 shares of the company’s stock after buying an additional 382 shares during the period. Maryland State Retirement & Pension System’s holdings in Centerspace were worth $369,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its stake in shares of Centerspace by 25.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 193,242 shares of the company’s stock worth $13,618,000 after purchasing an additional 39,380 shares during the period. Geode Capital Management LLC lifted its position in Centerspace by 3.1% during the third quarter. Geode Capital Management LLC now owns 387,517 shares of the company’s stock worth $27,314,000 after buying an additional 11,749 shares during the period. Principal Financial Group Inc. boosted its stake in Centerspace by 11.6% in the 4th quarter. Principal Financial Group Inc. now owns 90,753 shares of the company’s stock worth $6,003,000 after buying an additional 9,415 shares during the last quarter. Captrust Financial Advisors purchased a new stake in Centerspace in the 3rd quarter valued at about $234,000. Finally, Intech Investment Management LLC acquired a new position in shares of Centerspace during the 3rd quarter valued at about $403,000. Institutional investors and hedge funds own 79.00% of the company’s stock.

Analyst Upgrades and Downgrades

CSR has been the topic of several research analyst reports. Royal Bank of Canada boosted their target price on shares of Centerspace from $72.00 to $73.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Wells Fargo & Company initiated coverage on shares of Centerspace in a research note on Wednesday, March 19th. They set an “equal weight” rating and a $68.00 price objective for the company. Janney Montgomery Scott raised Centerspace from a “neutral” rating to a “buy” rating and set a $72.00 target price on the stock in a research report on Wednesday, January 15th. Finally, Wedbush started coverage on Centerspace in a research report on Tuesday, December 17th. They set a “neutral” rating and a $72.00 price target for the company. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Centerspace has an average rating of “Hold” and a consensus target price of $73.63.

Centerspace Stock Down 1.0 %

Shares of NYSE CSR opened at $63.80 on Wednesday. The stock has a fifty day moving average price of $63.00 and a 200 day moving average price of $67.53. The company has a current ratio of 0.04, a quick ratio of 0.05 and a debt-to-equity ratio of 0.74. Centerspace has a 12-month low of $54.90 and a 12-month high of $76.16. The company has a market cap of $1.07 billion, a P/E ratio of -50.24 and a beta of 0.91.

Centerspace (NYSE:CSR) last posted its earnings results on Tuesday, February 18th. The company reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $1.36. The business had revenue of $66.41 million during the quarter, compared to analyst estimates of $65.96 million. Centerspace had a negative return on equity of 1.34% and a negative net margin of 4.34%. Research analysts anticipate that Centerspace will post 4.94 EPS for the current fiscal year.

Centerspace Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 8th. Stockholders of record on Friday, March 28th will be given a dividend of $0.77 per share. This is a boost from Centerspace’s previous quarterly dividend of $0.75. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.83%. The ex-dividend date of this dividend is Friday, March 28th. Centerspace’s payout ratio is presently -242.52%.

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.