EntryPoint Capital LLC Acquires 5,442 Shares of Centerspace (NYSE:CSR)

EntryPoint Capital LLC raised its stake in Centerspace (NYSE:CSR) by 145.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 9,177 shares of the company’s stock after buying an additional 5,442 shares during the quarter. EntryPoint Capital LLC owned about 0.06% of Centerspace worth $607,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Smartleaf Asset Management LLC boosted its stake in Centerspace by 370.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 381 shares of the company’s stock worth $25,000 after purchasing an additional 300 shares during the period. Loomis Sayles & Co. L P lifted its stake 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 acquiring an additional 595 shares in the last quarter. KBC Group NV boosted its position in Centerspace by 75.9% during the 4th quarter. KBC Group NV now owns 1,080 shares of the company’s stock worth $71,000 after acquiring an additional 466 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Centerspace during the 4th quarter worth approximately $196,000. Finally, Van ECK Associates Corp grew its stake in shares of Centerspace by 19.4% during the 4th quarter. Van ECK Associates Corp now owns 3,135 shares of the company’s stock worth $207,000 after acquiring an additional 509 shares in the last quarter. Institutional investors and hedge funds own 79.00% of the company’s stock.

Centerspace Stock Up 1.5 %

NYSE CSR opened at $64.71 on Tuesday. The company has a market cap of $1.08 billion, a price-to-earnings ratio of -50.95 and a beta of 0.91. 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 50 day moving average of $62.94 and a 200-day moving average of $67.60.

Centerspace (NYSE:CSR) last released its earnings results on Tuesday, February 18th. The company reported $1.21 earnings per share (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 company had revenue of $66.41 million for the quarter, compared to analyst estimates of $65.96 million. On average, equities research analysts expect that Centerspace will post 4.94 earnings per share for the current fiscal year.

Centerspace Increases Dividend

The company also recently declared 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 is a positive change from Centerspace’s previous quarterly dividend of $0.75. The ex-dividend date is Friday, March 28th. This represents a $3.08 annualized dividend and a dividend yield of 4.76%. Centerspace’s dividend payout ratio (DPR) is currently -242.52%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on CSR shares. Janney Montgomery Scott upgraded shares of Centerspace from a “neutral” rating to a “buy” rating and set a $72.00 target price for the company in a report on Wednesday, January 15th. Royal Bank of Canada increased their price objective on shares of Centerspace from $72.00 to $73.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Wells Fargo & Company began coverage on Centerspace in a research report on Wednesday, March 19th. They issued an “equal weight” rating and a $68.00 target price on the stock. Finally, Wedbush initiated 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 assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus 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.