Centerspace (NYSE:CSR) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. decreased its holdings in shares of Centerspace (NYSE:CSRFree Report) by 5.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 80,595 shares of the company’s stock after selling 4,426 shares during the quarter. Principal Financial Group Inc.’s holdings in Centerspace were worth $4,857,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Wellington Management Group LLP grew its position in shares of Centerspace by 27.8% in the 1st quarter. Wellington Management Group LLP now owns 1,180,660 shares of the company’s stock valued at $115,846,000 after buying an additional 257,030 shares during the last quarter. Norges Bank acquired a new stake in shares of Centerspace during the fourth quarter worth about $8,194,000. State Street Corp lifted its holdings in shares of Centerspace by 15.6% in the 1st quarter. State Street Corp now owns 887,776 shares of the company’s stock valued at $87,742,000 after purchasing an additional 119,848 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Centerspace by 191.3% in the 2nd quarter. Goldman Sachs Group Inc. now owns 177,938 shares of the company’s stock valued at $10,918,000 after purchasing an additional 116,854 shares during the period. Finally, BlackRock Inc. grew its stake in Centerspace by 2.2% during the 1st quarter. BlackRock Inc. now owns 2,736,058 shares of the company’s stock worth $268,463,000 after buying an additional 58,404 shares during the last quarter. 78.97% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on CSR. Royal Bank of Canada raised Centerspace from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $58.00 to $63.00 in a report on Tuesday, January 16th. Piper Sandler decreased their price target on shares of Centerspace from $65.00 to $57.00 and set a “neutral” rating for the company in a research note on Friday, November 10th. Robert W. Baird dropped their price objective on shares of Centerspace from $69.00 to $65.00 in a research note on Tuesday, October 10th. Finally, Compass Point upgraded shares of Centerspace from a “neutral” rating to a “buy” rating and set a $65.00 target price for the company in a research note on Monday, November 6th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $64.71.

Read Our Latest Research Report on CSR

Centerspace Stock Up 0.7 %

Shares of NYSE:CSR opened at $53.99 on Wednesday. The company has a market cap of $812.47 million, a price-to-earnings ratio of 19.70, a PEG ratio of 1.66 and a beta of 0.94. Centerspace has a fifty-two week low of $46.74 and a fifty-two week high of $70.14. The firm’s 50-day simple moving average is $56.02 and its 200-day simple moving average is $57.52. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.62.

Centerspace Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 12th. Shareholders of record on Friday, December 29th were given a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a yield of 5.41%. The ex-dividend date of this dividend was Thursday, December 28th. Centerspace’s payout ratio is 106.57%.

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. 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.

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Institutional Ownership by Quarter for Centerspace (NYSE:CSR)

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