Phocas Financial Corp. Grows Position in Centerspace (NYSE:CSR)

Phocas Financial Corp. grew its holdings in Centerspace (NYSE:CSR – Get Rating) by 5.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 84,966 shares of the company’s stock after acquiring an additional 4,476 shares during the period. Phocas Financial Corp. owned about 0.56% of Centerspace worth $4,985,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. BlackRock Inc. boosted its holdings in shares of Centerspace by 2.2% in the 1st quarter. BlackRock Inc. now owns 2,736,058 shares of the company’s stock valued at $268,463,000 after acquiring an additional 58,404 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Centerspace by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 2,478,106 shares of the company’s stock valued at $166,826,000 after acquiring an additional 42,104 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Centerspace by 27.8% in the 1st quarter. Wellington Management Group LLP now owns 1,180,660 shares of the company’s stock valued at $115,846,000 after acquiring an additional 257,030 shares during the last quarter. State Street Corp boosted its holdings in shares of Centerspace by 1.5% in the 3rd quarter. State Street Corp now owns 938,301 shares of the company’s stock valued at $63,821,000 after acquiring an additional 13,459 shares during the last quarter. Finally, Heitman Real Estate Securities LLC boosted its holdings in shares of Centerspace by 49.9% in the 3rd quarter. Heitman Real Estate Securities LLC now owns 419,789 shares of the company’s stock valued at $28,260,000 after acquiring an additional 139,738 shares during the last quarter. 84.26% of the stock is owned by hedge funds and other institutional investors.

Centerspace Stock Performance

Shares of CSR traded down $2.98 during trading hours on Friday, hitting $53.50. The stock had a trading volume of 262,513 shares, compared to its average volume of 79,012. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.03 and a current ratio of 0.03. The firm has a 50-day moving average price of $63.77 and a 200 day moving average price of $65.55. The firm has a market capitalization of $804.11 million, a price-to-earnings ratio of -39.34, a PEG ratio of 1.90 and a beta of 0.92. Centerspace has a fifty-two week low of $52.94 and a fifty-two week high of $104.63.

Centerspace Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 10th. Shareholders of record on Friday, March 31st will be given a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a yield of 5.46%. The ex-dividend date of this dividend is Thursday, March 30th. Centerspace’s dividend payout ratio is presently -214.70%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CSR. Raymond James downgraded shares of Centerspace from a “market perform” rating to an “underperform” rating in a report on Wednesday, November 23rd. Janney Montgomery Scott cut shares of Centerspace from a “buy” rating to a “neutral” rating in a research note on Wednesday, December 14th. Finally, Royal Bank of Canada decreased their target price on shares of Centerspace from $66.00 to $63.00 and set a “sector perform” rating for the company in a research note on Thursday, February 23rd. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to MarketBeat.com, Centerspace has a consensus rating of “Hold” and an average price target of $72.00.

Centerspace Company Profile

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Centerspace operates as real estate investment trust, which engages in the ownership, management, acquisition, redevelopment, and development of apartment communities. It focuses on making operational enhancements to improve residents experience, redeveloping existing apartment communities to meet market demands and acquiring new apartment communities in the Minneapolis/St.