Centerspace $CSR Shares Bought by Land & Buildings Investment Management LLC

Land & Buildings Investment Management LLC lifted its position in shares of Centerspace (NYSE:CSR) by 96.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 599,252 shares of the company’s stock after purchasing an additional 294,086 shares during the period. Centerspace comprises 6.5% of Land & Buildings Investment Management LLC’s portfolio, making the stock its 6th largest position. Land & Buildings Investment Management LLC’s holdings in Centerspace were worth $35,296,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in CSR. Pacific Heights Asset Management LLC increased its stake in Centerspace by 12.5% during the 3rd quarter. Pacific Heights Asset Management LLC now owns 225,000 shares of the company’s stock worth $13,252,000 after buying an additional 25,000 shares during the period. WINTON GROUP Ltd purchased a new position in Centerspace in the 3rd quarter valued at about $1,691,000. JPMorgan Chase & Co. boosted its position in Centerspace by 10.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 224,583 shares of the company’s stock valued at $13,228,000 after buying an additional 21,337 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Centerspace by 0.9% during the second quarter. Geode Capital Management LLC now owns 435,025 shares of the company’s stock valued at $26,185,000 after acquiring an additional 4,090 shares in the last quarter. Finally, Systematic Financial Management LP acquired a new stake in shares of Centerspace during the second quarter valued at about $7,662,000. 79.00% of the stock is currently owned by hedge funds and other institutional investors.

Centerspace Stock Performance

Shares of Centerspace stock opened at $60.84 on Tuesday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.04 and a current ratio of 0.04. Centerspace has a 1 year low of $52.76 and a 1 year high of $69.15. The firm’s 50-day simple moving average is $63.84 and its 200-day simple moving average is $62.67. The firm has a market cap of $1.02 billion, a PE ratio of 60.84 and a beta of 0.79.

Centerspace (NYSE:CSR) last posted its quarterly earnings results on Tuesday, February 17th. The company reported ($1.10) EPS for the quarter, missing analysts’ consensus estimates of $1.21 by ($2.31). The firm had revenue of $66.62 million during the quarter, compared to analyst estimates 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. Equities analysts forecast that Centerspace will post 4.94 earnings per share for the current fiscal year.

Centerspace Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 14th. Stockholders of record on Monday, March 30th will be given a $0.77 dividend. The ex-dividend date is Monday, March 30th. This represents a $3.08 annualized dividend and a dividend yield of 5.1%. Centerspace’s dividend payout ratio (DPR) is presently 308.00%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Cantor Fitzgerald reiterated a “neutral” rating and issued a $65.00 price target on shares of Centerspace in a research note on Monday, January 5th. Royal Bank Of Canada raised their price objective on Centerspace from $68.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, February 19th. Wells Fargo & Company dropped their price objective on Centerspace from $74.00 to $69.00 and set an “equal weight” rating on the stock in a report on Thursday, March 5th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Centerspace in a research report on Monday, December 29th. Finally, Piper Sandler increased their target price on Centerspace from $66.00 to $69.00 and gave the company a “neutral” rating in a research note on Thursday, February 19th. Two analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $69.57.

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.