Illinois Municipal Retirement Fund Boosts Position in Centerspace (NYSE:CSR)

Illinois Municipal Retirement Fund raised its holdings in shares of Centerspace (NYSE:CSR) by 6.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,501 shares of the company’s stock after acquiring an additional 552 shares during the period. Illinois Municipal Retirement Fund’s holdings in Centerspace were worth $562,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. raised its holdings 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 worth $41,000 after purchasing an additional 150 shares during the last quarter. Loomis Sayles & Co. L P boosted 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 valued at $43,000 after purchasing an additional 595 shares during the last quarter. KBC Group NV grew 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 purchasing an additional 466 shares during the period. Van ECK Associates Corp raised its stake 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 during the last quarter. Finally, Versor Investments LP acquired a new position in shares of Centerspace in the 3rd quarter valued at about $204,000. 79.00% of the stock is owned by hedge funds and other institutional investors.

Centerspace Trading Down 1.7 %

Shares of NYSE:CSR opened at $64.94 on Wednesday. The business’s 50 day moving average price is $62.90 and its 200-day moving average price is $68.64. Centerspace has a 1 year low of $54.50 and a 1 year high of $76.16. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of -51.14 and a beta of 0.90. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.04 and a quick ratio of 0.05.

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

Centerspace Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 8th. Shareholders of record on Friday, March 28th will be paid a dividend of $0.77 per share. This is a positive change from Centerspace’s previous quarterly dividend of $0.75. This represents a $3.08 annualized dividend and a yield of 4.74%. The ex-dividend date of this dividend is Friday, March 28th. Centerspace’s payout ratio is -242.52%.

Wall Street Analysts Forecast Growth

CSR has been the topic of several analyst reports. Janney Montgomery Scott raised Centerspace from a “neutral” rating to a “buy” rating and set a $72.00 target price on the stock in a report on Wednesday, January 15th. Royal Bank of Canada raised 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. Finally, Wedbush started coverage on shares of Centerspace in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $72.00 target price for the company. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target 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.