Martingale Asset Management L P Cuts Stock Holdings in Centerspace (NYSE:CSR)

Martingale Asset Management L P decreased its stake in shares of Centerspace (NYSE:CSR) by 7.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,270 shares of the company’s stock after selling 1,469 shares during the period. Martingale Asset Management L P owned about 0.12% of Centerspace worth $1,358,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. boosted its position in shares of Centerspace by 9.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 275,511 shares of the company’s stock valued at $19,415,000 after buying an additional 23,839 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Centerspace by 6.9% in the second quarter. Dimensional Fund Advisors LP now owns 223,770 shares of the company’s stock worth $15,134,000 after purchasing an additional 14,440 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Centerspace by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 139,188 shares of the company’s stock worth $9,413,000 after purchasing an additional 605 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Centerspace by 295.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 107,820 shares of the company’s stock worth $7,598,000 after purchasing an additional 80,566 shares during the last quarter. Finally, Westwood Holdings Group Inc. boosted its position in Centerspace by 10.8% in the second quarter. Westwood Holdings Group Inc. now owns 99,718 shares of the company’s stock worth $6,744,000 after purchasing an additional 9,718 shares during the last quarter. Hedge funds and other institutional investors own 79.00% of the company’s stock.

Centerspace Stock Performance

Shares of CSR opened at $72.50 on Monday. The firm has a market cap of $1.20 billion, a PE ratio of -45.03, a PEG ratio of 2.13 and a beta of 0.89. The stock’s fifty day moving average price is $71.47 and its two-hundred day moving average price is $70.79. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.05 and a quick ratio of 0.05. Centerspace has a 1 year low of $52.26 and a 1 year high of $76.16.

Centerspace (NYSE:CSR) last issued its earnings results on Monday, October 28th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.17 by ($1.57). The firm had revenue of $65.03 million during the quarter, compared to the consensus estimate 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 previous year, the firm earned $1.20 earnings per share. On average, equities research analysts forecast that Centerspace will post 4.86 EPS for the current year.

Centerspace Announces Dividend

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

Analyst Ratings Changes

CSR has been the topic of several research analyst reports. BTIG Research boosted their price objective on Centerspace from $69.00 to $79.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Royal Bank of Canada reissued an “outperform” rating and issued a $76.00 price objective on shares of Centerspace in a research report on Wednesday, October 30th. Finally, Raymond James cut Centerspace from an “outperform” rating to a “market perform” rating in a research report on Monday, October 21st. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $76.00.

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.