Martingale Asset Management L P Sells 1,469 Shares of Centerspace (NYSE:CSR)

Martingale Asset Management L P reduced its holdings in Centerspace (NYSE:CSR) by 7.1% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,270 shares of the company’s stock after selling 1,469 shares during the quarter. Martingale Asset Management L P’s holdings in Centerspace were worth $1,358,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in CSR. Mirae Asset Global Investments Co. Ltd. increased its stake in Centerspace by 35.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 579 shares of the company’s stock worth $41,000 after acquiring an additional 150 shares during the last quarter. Rothschild Investment LLC bought a new position in Centerspace in the 2nd quarter worth about $42,000. Loomis Sayles & Co. L P increased 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 worth $43,000 after acquiring an additional 595 shares during the last quarter. Van ECK Associates Corp increased its stake in Centerspace by 15.2% in the 3rd quarter. Van ECK Associates Corp now owns 2,626 shares of the company’s stock worth $186,000 after acquiring an additional 347 shares during the last quarter. Finally, Versor Investments LP bought a new position in Centerspace in the 3rd quarter worth about $204,000. 79.00% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on CSR. Raymond James lowered Centerspace from an “outperform” rating to a “market perform” rating in a research note on Monday, October 21st. Royal Bank of Canada reiterated an “outperform” rating and issued a $76.00 price objective on shares of Centerspace in a report on Wednesday, October 30th. Finally, BTIG Research upped their price objective on Centerspace from $69.00 to $79.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $76.00.

Centerspace Price Performance

CSR opened at $72.50 on Monday. The stock has a 50-day moving average price of $71.47 and a 200-day moving average price of $70.79. Centerspace has a 12-month low of $52.26 and a 12-month high of $76.16. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $1.20 billion, a P/E ratio of -45.03, a PEG ratio of 2.13 and a beta of 0.89.

Centerspace (NYSE:CSR) last issued its earnings results on Monday, October 28th. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of $1.17 by ($1.57). The company had revenue of $65.03 million for the quarter, compared to analysts’ expectations of $66.35 million. Centerspace had a negative net margin of 5.57% and a negative return on equity of 1.72%. During the same quarter in the prior year, the company earned $1.20 earnings per share. Equities analysts predict that Centerspace will post 4.86 earnings per share for the current fiscal year.

Centerspace Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Monday, September 30th were issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 4.14%. The ex-dividend date of this dividend was Monday, September 30th. Centerspace’s dividend payout ratio is presently -186.34%.

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.