Quantbot Technologies LP Grows Stock Holdings in Centerspace (NYSE:CSR)

Quantbot Technologies LP lifted its position in Centerspace (NYSE:CSR) by 60.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,383 shares of the company’s stock after buying an additional 2,789 shares during the quarter. Quantbot Technologies LP’s holdings in Centerspace were worth $488,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of CSR. Intech Investment Management LLC purchased a new stake in Centerspace during the third quarter worth about $403,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Centerspace by 9.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 275,511 shares of the company’s stock valued at $19,415,000 after purchasing an additional 23,839 shares in the last quarter. Cerity Partners LLC purchased a new stake in Centerspace during the 3rd quarter worth approximately $746,000. Daiwa Securities Group Inc. lifted its holdings in Centerspace by 8.0% during the 3rd quarter. Daiwa Securities Group Inc. now owns 5,032 shares of the company’s stock worth $355,000 after buying an additional 372 shares in the last quarter. Finally, Loomis Sayles & Co. L P boosted its position in Centerspace by 3,131.6% in the 3rd quarter. Loomis Sayles & Co. L P now owns 614 shares of the company’s stock valued at $43,000 after buying an additional 595 shares during the period. Institutional investors and hedge funds own 79.00% of the company’s stock.

Centerspace Stock Up 0.7 %

Centerspace stock opened at $64.62 on Friday. The company has a market capitalization of $1.08 billion, a P/E ratio of -50.88 and a beta of 0.91. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.05 and a current ratio of 0.04. Centerspace has a fifty-two week low of $54.90 and a fifty-two week high of $76.16. The stock has a 50-day simple moving average of $63.12 and a 200-day simple moving average of $67.49.

Centerspace (NYSE:CSR) last issued its quarterly earnings data on Tuesday, February 18th. The company reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $1.36. The company had revenue of $66.41 million during the quarter, compared to analysts’ expectations of $65.96 million. Centerspace had a negative return on equity of 1.34% and a negative net margin of 4.34%. Equities research analysts expect that Centerspace will post 4.94 earnings per share for the current year.

Centerspace Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 8th. Shareholders of record on Friday, March 28th will be given a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 4.77%. This is a boost from Centerspace’s previous quarterly dividend of $0.75. The ex-dividend date is Friday, March 28th. Centerspace’s dividend payout ratio (DPR) is presently -242.52%.

Analysts Set New Price Targets

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

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.