Cbre Investment Management Listed Real Assets LLC Trims Stake in Centerspace (NYSE:CSR)

Cbre Investment Management Listed Real Assets LLC trimmed its stake in Centerspace (NYSE:CSR) by 3.8% in the 4th quarter, HoldingsChannel reports. The firm owned 22,329 shares of the company’s stock after selling 883 shares during the period. Cbre Investment Management Listed Real Assets LLC’s holdings in Centerspace were worth $1,477,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. JPMorgan Chase & Co. increased its stake in shares of Centerspace by 25.6% in 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 in the last quarter. Geode Capital Management LLC increased its stake in Centerspace by 3.1% in the 3rd 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 in the last quarter. Captrust Financial Advisors purchased a new stake in Centerspace in the 3rd quarter worth $234,000. Principal Financial Group Inc. increased its stake in Centerspace by 3.6% in the 3rd quarter. Principal Financial Group Inc. now owns 81,338 shares of the company’s stock worth $5,732,000 after buying an additional 2,852 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new stake in Centerspace in the 3rd quarter worth $403,000. 79.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Wedbush assumed coverage on Centerspace in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $72.00 price target for the company. Royal Bank of Canada increased their price target on Centerspace from $72.00 to $73.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Finally, Janney Montgomery Scott raised shares of Centerspace from a “neutral” rating to a “buy” rating and set a $72.00 price objective for the company in a report on Wednesday, January 15th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $74.43.

Centerspace Stock Down 1.7 %

Shares of NYSE:CSR opened at $64.94 on Wednesday. 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 $54.50 and a 12 month high of $76.16. The company has a 50-day moving average price of $62.90 and a 200 day moving average price of $68.64. The company has a market cap of $1.09 billion, a price-to-earnings ratio of -51.14 and a beta of 0.90.

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

Centerspace Increases Dividend

The firm also recently announced 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 annualized dividend and a dividend yield of 4.74%. The ex-dividend date is Friday, March 28th. This is a positive change from Centerspace’s previous quarterly dividend of $0.75. Centerspace’s payout ratio is -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.