Phocas Financial Corp. Has $5.04 Million Stock Position in Centerspace (NYSE:CSR)

Phocas Financial Corp. trimmed its stake in shares of Centerspace (NYSE:CSR) by 2.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 82,138 shares of the company’s stock after selling 1,765 shares during the quarter. Phocas Financial Corp. owned 0.55% of Centerspace worth $5,040,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Lazard Asset Management LLC bought a new position in shares of Centerspace in the fourth quarter valued at approximately $27,000. Captrust Financial Advisors bought a new position in shares of Centerspace in the second quarter valued at approximately $46,000. Russell Investments Group Ltd. bought a new position in shares of Centerspace in the first quarter valued at approximately $66,000. Tower Research Capital LLC TRC raised its stake in shares of Centerspace by 151.1% in the third quarter. Tower Research Capital LLC TRC now owns 1,303 shares of the company’s stock valued at $88,000 after acquiring an additional 784 shares during the last quarter. Finally, FMR LLC raised its stake in shares of Centerspace by 20.5% in the first quarter. FMR LLC now owns 1,382 shares of the company’s stock valued at $75,000 after acquiring an additional 235 shares during the last quarter. 78.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CSR. Royal Bank of Canada lifted their target price on shares of Centerspace from $62.00 to $67.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 2nd. Raymond James upgraded shares of Centerspace from an “underperform” rating to a “market perform” rating in a research report on Friday, May 26th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Centerspace has an average rating of “Hold” and an average price target of $70.80.

Centerspace Trading Down 0.9 %

Shares of Centerspace stock traded down $0.54 on Tuesday, hitting $61.91. 9,862 shares of the company’s stock traded hands, compared to its average volume of 73,662. The firm’s 50-day moving average price is $62.91 and its two-hundred day moving average price is $59.92. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.03 and a quick ratio of 0.03. The stock has a market capitalization of $925.55 million, a PE ratio of 28.51, a price-to-earnings-growth ratio of 1.92 and a beta of 0.93. Centerspace has a one year low of $51.26 and a one year high of $74.40.

Centerspace Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders of record on Friday, September 29th will be paid a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a dividend yield of 4.72%. The ex-dividend date of this dividend is Thursday, September 28th. Centerspace’s dividend payout ratio (DPR) is currently 133.33%.

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 June 30, 2023, Centerspace owned interests in 75 apartment communities consisting of 13,497 apartment homes located in Colorado, Minnesota, Montana, Nebraska, North Dakota, and South Dakota.