Public Sector Pension Investment Board Increases Stake in Centerspace $CSR

Public Sector Pension Investment Board raised its position in shares of Centerspace (NYSE:CSR) by 14.5% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 65,352 shares of the company’s stock after purchasing an additional 8,287 shares during the quarter. Public Sector Pension Investment Board’s holdings in Centerspace were worth $3,849,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Millennium Management LLC lifted its stake in shares of Centerspace by 307.3% in the first quarter. Millennium Management LLC now owns 184,051 shares of the company’s stock worth $11,917,000 after buying an additional 138,861 shares in the last quarter. Systematic Financial Management LP purchased a new position in Centerspace in the 2nd quarter worth approximately $7,662,000. Strs Ohio lifted its position in Centerspace by 3,025.8% in the 2nd quarter. Strs Ohio now owns 96,900 shares of the company’s stock valued at $5,832,000 after acquiring an additional 93,800 shares in the last quarter. Cbre Investment Management Listed Real Assets LLC boosted its stake in Centerspace by 131.9% during the 2nd quarter. Cbre Investment Management Listed Real Assets LLC now owns 133,241 shares of the company’s stock valued at $8,020,000 after purchasing an additional 75,773 shares during the last quarter. Finally, Phocas Financial Corp. boosted its stake in Centerspace by 120.0% during the 2nd quarter. Phocas Financial Corp. now owns 122,028 shares of the company’s stock valued at $7,345,000 after purchasing an additional 66,565 shares during the last quarter. 79.00% of the stock is owned by hedge funds and other institutional investors.

Centerspace Stock Performance

Shares of CSR opened at $62.36 on Friday. The firm has a market capitalization of $1.05 billion, a P/E ratio of 62.36 and a beta of 0.78. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.04 and a quick ratio of 0.18. Centerspace has a one year low of $52.76 and a one year high of $69.15. The business has a fifty day moving average of $65.08 and a 200 day moving average of $61.85.

Centerspace (NYSE:CSR) last announced its earnings results on Tuesday, February 17th. The company reported ($1.10) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.21 by ($2.31). The firm had revenue of $66.62 million during the quarter, compared to analysts’ expectations of $69.77 million. Centerspace had a return on equity of 2.00% and a net margin of 6.25%.Centerspace has set its FY 2026 guidance at 4.810-5.050 EPS. As a group, sell-side analysts anticipate that Centerspace will post 4.94 EPS for the current year.

Centerspace Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 14th. Investors of record on Monday, March 30th will be issued a $0.77 dividend. The ex-dividend date of this dividend is Monday, March 30th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.9%. Centerspace’s dividend payout ratio (DPR) is presently 308.00%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CSR. Cantor Fitzgerald restated a “neutral” rating and issued a $65.00 price target on shares of Centerspace in a research note on Monday, January 5th. Raymond James Financial reiterated a “market perform” rating on shares of Centerspace in a report on Wednesday, November 12th. Wall Street Zen cut shares of Centerspace from a “hold” rating to a “strong sell” rating in a research note on Saturday. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Centerspace in a report on Monday, December 29th. Finally, Wells Fargo & Company lifted their price target on shares of Centerspace from $60.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Monday, November 17th. Two research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, Centerspace has an average rating of “Hold” and an average target price of $70.29.

About Centerspace

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. Centerspace was named a Top Workplace for the fourth consecutive year in 2023 by the Minneapolis Star Tribune.