Pacific Heights Asset Management LLC Acquires 25,000 Shares of Centerspace $CSR

Pacific Heights Asset Management LLC increased its holdings in shares of Centerspace (NYSE:CSR) by 12.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 225,000 shares of the company’s stock after purchasing an additional 25,000 shares during the period. Pacific Heights Asset Management LLC’s holdings in Centerspace were worth $13,252,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Hilltop National Bank bought a new position in shares of Centerspace during the 2nd quarter worth approximately $29,000. Wolff Wiese Magana LLC increased its stake in shares of Centerspace by 897.3% in the 2nd quarter. Wolff Wiese Magana LLC now owns 748 shares of the company’s stock valued at $45,000 after acquiring an additional 673 shares in the last quarter. Versant Capital Management Inc lifted its position in shares of Centerspace by 488.4% during the 3rd quarter. Versant Capital Management Inc now owns 1,630 shares of the company’s stock valued at $96,000 after acquiring an additional 1,353 shares during the period. PNC Financial Services Group Inc. lifted its position in shares of Centerspace by 103.4% during the 2nd quarter. PNC Financial Services Group Inc. now owns 2,176 shares of the company’s stock valued at $131,000 after acquiring an additional 1,106 shares during the period. Finally, Tower Research Capital LLC TRC boosted its stake in Centerspace by 64.0% during the second quarter. Tower Research Capital LLC TRC now owns 2,252 shares of the company’s stock worth $136,000 after acquiring an additional 879 shares in the last quarter. 79.00% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CSR. Wall Street Zen raised shares of Centerspace from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. UBS Group raised their target price on Centerspace from $63.00 to $66.00 and gave the company a “neutral” rating in a research note on Thursday, January 8th. Piper Sandler decreased their target price on Centerspace from $68.00 to $66.00 and set a “neutral” rating for the company in a research report on Monday, November 10th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $65.00 price target on shares of Centerspace in a report on Monday, January 5th. Finally, Wells Fargo & Company raised their price objective on Centerspace from $60.00 to $74.00 and gave the company an “equal weight” rating in a research note on Monday, November 17th. Two analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $69.86.

Centerspace Stock Up 0.1%

Shares of NYSE CSR opened at $64.72 on Tuesday. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.18 and a quick ratio of 0.18. The company has a 50-day moving average price of $65.82 and a 200-day moving average price of $60.94. The stock has a market capitalization of $1.08 billion, a P/E ratio of 36.16 and a beta of 0.78. Centerspace has a 1 year low of $52.76 and a 1 year high of $69.15.

Centerspace (NYSE:CSR) last posted its earnings results on Monday, November 3rd. The company reported $1.19 earnings per share for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.03). Centerspace had a return on equity of 3.52% and a net margin of 11.14%.Centerspace has set its FY 2025 guidance at 4.880-4.960 EPS. On average, equities research analysts forecast that Centerspace will post 4.94 EPS for the current fiscal year.

Centerspace Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, January 12th. Stockholders of record on Tuesday, December 30th were issued a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date was Tuesday, December 30th. Centerspace’s dividend payout ratio (DPR) is currently 172.07%.

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