EntryPoint Capital LLC Has $607,000 Position in Centerspace (NYSE:CSR)

EntryPoint Capital LLC increased its stake in shares of Centerspace (NYSE:CSR) by 145.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 9,177 shares of the company’s stock after buying an additional 5,442 shares during the quarter. EntryPoint Capital LLC’s holdings in Centerspace were worth $607,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Centerspace by 8.2% in the 4th quarter. Vanguard Group Inc. now owns 2,594,366 shares of the company’s stock valued at $171,617,000 after acquiring an additional 195,629 shares during the last quarter. Wellington Management Group LLP increased its holdings in Centerspace by 6.4% in the 3rd quarter. Wellington Management Group LLP now owns 1,019,353 shares of the company’s stock worth $71,834,000 after purchasing an additional 61,394 shares in the last quarter. State Street Corp raised its position in Centerspace by 0.5% in the third quarter. State Street Corp now owns 897,749 shares of the company’s stock valued at $63,931,000 after purchasing an additional 4,263 shares during the last quarter. Geode Capital Management LLC raised its position in Centerspace by 3.1% in the third quarter. Geode Capital Management LLC now owns 387,517 shares of the company’s stock valued at $27,314,000 after purchasing an additional 11,749 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Centerspace by 9.5% during 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. Institutional investors and hedge funds own 79.00% of the company’s stock.

Centerspace Stock Performance

Shares of Centerspace stock opened at $64.71 on Tuesday. The business has a 50-day moving average price of $62.94 and a two-hundred day moving average price of $67.60. Centerspace has a 1-year low of $54.90 and a 1-year high of $76.16. The company has a current ratio of 0.04, a quick ratio of 0.05 and a debt-to-equity ratio of 0.74. The company has a market cap of $1.08 billion, a P/E ratio of -50.95 and a beta of 0.91.

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

Centerspace Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 8th. Investors 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 dividend yield of 4.76%. The ex-dividend date is Friday, March 28th. This is an increase from Centerspace’s previous quarterly dividend of $0.75. Centerspace’s payout ratio is presently -242.52%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Wedbush began coverage on shares of Centerspace in a report on Tuesday, December 17th. They issued a “neutral” rating and a $72.00 price objective for the company. 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 target for the company. Royal Bank of Canada increased their price objective on Centerspace from $72.00 to $73.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Finally, 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 report on Wednesday, January 15th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently 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.