New York State Common Retirement Fund Purchases 527 Shares of Centerspace (NYSE:CSR)

New York State Common Retirement Fund grew its position in shares of Centerspace (NYSE:CSR) by 4.3% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 12,692 shares of the company’s stock after acquiring an additional 527 shares during the period. New York State Common Retirement Fund’s holdings in Centerspace were worth $840,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Centerspace by 35.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 579 shares of the company’s stock valued at $41,000 after purchasing an additional 150 shares in the last quarter. Loomis Sayles & Co. L P raised its holdings in Centerspace by 3,131.6% in the third quarter. Loomis Sayles & Co. L P now owns 614 shares of the company’s stock worth $43,000 after purchasing an additional 595 shares in the last quarter. KBC Group NV lifted its position in Centerspace by 75.9% during the fourth quarter. KBC Group NV now owns 1,080 shares of the company’s stock valued at $71,000 after buying an additional 466 shares during the period. Van ECK Associates Corp boosted its holdings in shares of Centerspace by 15.2% during the 3rd quarter. Van ECK Associates Corp now owns 2,626 shares of the company’s stock valued at $186,000 after buying an additional 347 shares in the last quarter. Finally, Versor Investments LP purchased a new stake in shares of Centerspace in the 3rd quarter worth about $204,000. Institutional investors own 79.00% of the company’s stock.

Centerspace Stock Performance

Shares of CSR stock opened at $65.95 on Tuesday. The company has a market capitalization of $1.10 billion, a price-to-earnings ratio of -51.93 and a beta of 0.90. 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 one year low of $54.50 and a one year high of $76.16. The company’s 50-day moving average is $62.93 and its 200 day moving average is $68.71.

Centerspace (NYSE:CSR) last posted 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. The firm had revenue of $66.41 million for the quarter, compared to analysts’ expectations of $65.96 million. Centerspace had a negative net margin of 4.34% and a negative return on equity of 1.34%. Sell-side analysts expect that Centerspace will post 4.94 EPS for the current fiscal 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 issued a $0.77 dividend. This is a positive change from Centerspace’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Friday, March 28th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.67%. Centerspace’s dividend payout ratio (DPR) is presently -242.52%.

Wall Street Analysts Forecast Growth

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

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.