Centerspace $CSR Stake Lifted by Land & Buildings Investment Management LLC

Land & Buildings Investment Management LLC boosted its stake in Centerspace (NYSE:CSR) by 96.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 599,252 shares of the company’s stock after purchasing an additional 294,086 shares during the quarter. Centerspace comprises 6.5% of Land & Buildings Investment Management LLC’s portfolio, making the stock its 6th largest position. Land & Buildings Investment Management LLC owned about 3.59% of Centerspace worth $35,296,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Lighthouse Investment Partners LLC boosted its holdings in shares of Centerspace by 319.4% in the 3rd quarter. Lighthouse Investment Partners LLC now owns 65,000 shares of the company’s stock valued at $3,828,000 after purchasing an additional 49,500 shares during the last quarter. Boothbay Fund Management LLC purchased a new stake in shares of Centerspace during the 3rd quarter valued at $247,000. Amundi increased its holdings in shares of Centerspace by 6.5% during the 3rd quarter. Amundi now owns 11,566 shares of the company’s stock worth $664,000 after buying an additional 709 shares during the last quarter. California State Teachers Retirement System increased its holdings in shares of Centerspace by 14.4% during the 3rd quarter. California State Teachers Retirement System now owns 16,298 shares of the company’s stock worth $960,000 after buying an additional 2,057 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Centerspace by 482.8% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 109,301 shares of the company’s stock worth $6,438,000 after buying an additional 90,548 shares during the period. Institutional investors and hedge funds own 79.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on CSR shares. Weiss Ratings reissued a “hold (c+)” rating on shares of Centerspace in a research report on Monday, December 29th. Piper Sandler raised their price objective on Centerspace from $66.00 to $69.00 and gave the stock a “neutral” rating in a report on Thursday, February 19th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $65.00 price objective on shares of Centerspace in a research note on Monday, January 5th. Wells Fargo & Company decreased their target price on Centerspace from $74.00 to $69.00 and set an “equal weight” rating for the company in a report on Thursday, March 5th. Finally, UBS Group increased their target price on shares of Centerspace from $63.00 to $66.00 and gave the stock a “neutral” rating in a research report on Thursday, January 8th. Two equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, Centerspace has a consensus rating of “Hold” and an average target price of $69.57.

Centerspace Stock Down 1.9%

Shares of Centerspace stock opened at $60.84 on Tuesday. Centerspace has a twelve month low of $52.76 and a twelve month high of $69.15. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of 60.84 and a beta of 0.79. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.86. The company has a fifty day moving average price of $63.84 and a 200 day moving average price of $62.67.

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

Centerspace Dividend Announcement

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

Centerspace Company 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.