BTC Capital Management Inc. buys new shares in Centerspace (NYSE:CSR)

BTC Capital Management Inc. bought a new position in Centerspace (NYSE:CSR – Free Report) during the first quarter, the company said in its most recent filing with the SEC. The company purchased 4,878 shares of the company, worth approximately $279,000.

Several other hedge funds have also increased or decreased their stakes in the company. Barclays PLC increased its stake in shares of Centerspace by 48.1% in the third quarter. Barclays PLC now owns 12,830 shares of the company’s stock, valued at $772,000, after acquiring an additional 4,169 shares in the last quarter. The Swiss National Bank increased its stake in Centerspace shares by 1.2% in the third quarter. Swiss National Bank now owns 32,900 shares of the company’s stock valued at $1,983,000 after purchasing an additional 400 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Centerspace shares by 3.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 247,845 shares of the company’s stock worth $14,935,000 after purchasing an additional 9,179 shares in the last quarter. DekaBank Deutsche Girozentrale increased its stake in Centerspace shares by 18.8% in the third quarter. DekaBank Deutsche Girozentrale now owns 3,709 shares of the company’s stock worth $224,000 after purchasing an additional 587 shares during the period. Finally, Invesco Ltd. raised increased its stake in Centerspace by 1.7% during the third quarter. Invesco Ltd. now owns 104,712 shares of the company’s stock, valued at $6,310,000, after purchasing an additional 1,789 shares in the last quarter. 79.00% of the shares are held by institutional investors.

Wall Street analysts predict growth

A number of research agencies have issued reports on CSR. Piper Sandler raised their price objective on shares of Centerspace from $63.00 to $64.00 and gave the company a “neutral” rating in a research report on Monday, May 6. Raymond James upgraded Centerspace from a “market perform” rating to an “outperform” rating and set a $75.00 price target for the company in a research report on Friday, May 24. Royal Bank of Canada raised their target price on Centerspace from $66.00 to $68.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. Finally, Compass Point downgraded Centerspace from a “buy” rating to a “neutral” rating and raised their price target for the company from $65.00 to $68.00 in a research note on Friday, May 3. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $67.57.

View our latest analysis on CSR

Centerspace Price Performance

CSR stock opened at $67.09 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.04 and a current ratio of 0.04. The company has a 50-day moving average of $67.32 and a 200-day moving average of $60.15. Centerspace has a 52-week low of $46.74 and a 52-week high of $71.36. The company has a market cap of $1.00 billion, a price-to-earnings ratio of -83.86, a PEG ratio of 2.00 and a beta of 0.87.

Centerspace (NYSE:CSR – Get Free Report) last reported its earnings results on Monday, April 29. The company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of $1.12 ($1.49). The company had revenue of $64.51 million during the quarter, compared to the consensus estimate of $65.30 million. Centerspace had a negative return on equity of 0.73% and a negative net margin of 2.38%. During the same period last year, the company posted earnings per share of $1.07. Equities research analysts predict that Centerspace will post earnings per share of 4.86 for the current fiscal year.

Centerspace announces dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 10. Shareholders of record on Friday, June 28 will receive a dividend of $0.75 per share. This represents a dividend of $3.00 annually and a dividend yield of 4.47%. The ex-dividend date of this dividend is Friday, June 28. Centerspace’s payout ratio is -375.00%.

About Centerspace

(Free report)

Centerspace is an owner and operator of apartment communities committed to providing great homes by focusing on integrity and serving others. Centerspace, founded in 1970, owned interests in 71 apartment communities consisting of 12,785 apartment homes in Colorado, Minnesota, Montana, Nebraska, North Dakota and South Dakota as of September 30, 2023.

Read further

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