Swiss National Bank Boosts Stake in Centerspace (NYSE:CSR)

Swiss National Bank grew its position in shares of Centerspace (NYSE:CSR – Get Rating) by 1.9% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 37,100 shares of the company’s stock after acquiring an additional 700 shares during the period. Swiss National Bank owned about 0.25% of Centerspace worth $2,177,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Arizona State Retirement System grew its stake in shares of Centerspace by 3.9% in the 4th quarter. Arizona State Retirement System now owns 4,337 shares of the company’s stock worth $254,000 after buying an additional 162 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in shares of Centerspace by 14.9% in the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 8,100 shares of the company’s stock worth $472,000 after buying an additional 1,053 shares during the last quarter. Asset Management One Co. Ltd. grew its stake in shares of Centerspace by 4.9% in the 4th quarter. Asset Management One Co. Ltd. now owns 23,639 shares of the company’s stock worth $1,393,000 after buying an additional 1,099 shares during the last quarter. State of New Jersey Common Pension Fund D grew its stake in shares of Centerspace by 16.6% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 36,169 shares of the company’s stock worth $2,122,000 after buying an additional 5,136 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Centerspace by 7.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,168 shares of the company’s stock worth $303,000 after buying an additional 342 shares during the last quarter. Hedge funds and other institutional investors own 84.26% of the company’s stock.

Insider Activity

In related news, Director Mark Okey Decker, Jr. bought 1,000 shares of the firm’s stock in a transaction that occurred on Friday, May 5th. The shares were bought at an average cost of $58.85 per share, with a total value of $58,850.00. Following the acquisition, the director now owns 54,252 shares in the company, valued at $3,192,730.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.86% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on CSR shares. Colliers Securities upgraded Centerspace from a “neutral” rating to a “buy” rating and set a $70.00 price target on the stock in a research note on Tuesday, May 2nd. Piper Sandler lowered their price objective on Centerspace from $66.00 to $62.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 5th. Finally, Royal Bank of Canada lowered their price objective on Centerspace from $66.00 to $63.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 23rd. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $70.00.

Centerspace Price Performance

NYSE CSR opened at $57.80 on Friday. The business’s fifty day moving average price is $56.08 and its 200-day moving average price is $60.87. The stock has a market capitalization of $864.69 million, a price-to-earnings ratio of 27.79, a PEG ratio of 2.04 and a beta of 0.93. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.16 and a quick ratio of 0.16. Centerspace has a 1-year low of $51.26 and a 1-year high of $90.00.

Centerspace Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 10th. Stockholders of record on Friday, March 31st were issued a dividend of $0.73 per share. The ex-dividend date of this dividend was Thursday, March 30th. This represents a $2.92 annualized dividend and a dividend yield of 5.05%. Centerspace’s payout ratio is 140.38%.

About Centerspace

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Centerspace operates as real estate investment trust, which engages in the ownership, management, acquisition, redevelopment, and development of apartment communities. It focuses on making operational enhancements to improve residents experience, redeveloping existing apartment communities to meet market demands and acquiring new apartment communities in the Minneapolis/St.