Centerspace (NYSE:CSR) Shares Sold by First International Bank & Trust

First International Bank & Trust trimmed its position in shares of Centerspace (NYSE:CSR) by 43.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,860 shares of the company’s stock after selling 3,000 shares during the period. First International Bank & Trust’s holdings in Centerspace were worth $255,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CSR. Mirae Asset Global Investments Co. Ltd. boosted its position in Centerspace by 35.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 579 shares of the company’s stock valued at $41,000 after buying an additional 150 shares during the last quarter. Loomis Sayles & Co. L P lifted its stake in shares of Centerspace by 3,131.6% in the third quarter. Loomis Sayles & Co. L P now owns 614 shares of the company’s stock worth $43,000 after acquiring an additional 595 shares in the last quarter. Van ECK Associates Corp boosted its holdings in Centerspace by 15.2% in the third quarter. Van ECK Associates Corp now owns 2,626 shares of the company’s stock valued at $186,000 after purchasing an additional 347 shares during the last quarter. Versor Investments LP acquired a new stake in Centerspace during the 3rd quarter valued at approximately $204,000. Finally, Victory Capital Management Inc. acquired a new stake in Centerspace during the 2nd quarter valued at approximately $209,000. Hedge funds and other institutional investors own 79.00% of the company’s stock.

Centerspace Price Performance

Shares of NYSE CSR opened at $61.49 on Friday. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of -38.19, a price-to-earnings-growth ratio of 2.04 and a beta of 0.91. Centerspace has a twelve month low of $52.26 and a twelve month high of $76.16. The business has a 50 day simple moving average of $69.29 and a 200-day simple moving average of $70.61.

Centerspace (NYSE:CSR) last released its earnings results on Monday, October 28th. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of $1.17 by ($1.57). The business had revenue of $65.03 million for 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 EPS. As a group, equities research analysts expect that Centerspace will post 4.86 earnings per share for the current year.

Centerspace Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Monday, December 30th will be paid a dividend of $0.75 per share. The ex-dividend date of this dividend is Monday, December 30th. This represents a $3.00 annualized dividend and a yield of 4.88%. Centerspace’s dividend payout ratio (DPR) is -186.34%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on CSR shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $76.00 target price on shares of Centerspace in a research report on Wednesday, October 30th. Raymond James downgraded shares of Centerspace from an “outperform” rating to a “market perform” rating in a research note on Monday, October 21st. Finally, Wedbush assumed coverage on shares of Centerspace in a report on Tuesday, December 17th. They set a “neutral” rating and a $72.00 price objective for the company. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Centerspace presently has an average rating of “Hold” and an average target price of $75.33.

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.