Centerspace (CSR) To Go Ex-Dividend on March 27th

Centerspace (NYSE:CSRGet Free Report) announced a quarterly dividend on Tuesday, February 20th, Zacks reports. Shareholders of record on Thursday, March 28th will be paid a dividend of 0.75 per share on Monday, April 8th. This represents a $3.00 dividend on an annualized basis and a yield of 5.27%. The ex-dividend date is Wednesday, March 27th. This is an increase from Centerspace’s previous quarterly dividend of $0.73.

Centerspace has increased its dividend by an average of 61.0% per year over the last three years and has increased its dividend every year for the last 1 years. Centerspace has a payout ratio of -417.1% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Centerspace to earn $4.84 per share next year, which means the company should continue to be able to cover its $2.92 annual dividend with an expected future payout ratio of 60.3%.

Centerspace Price Performance

Shares of CSR opened at $56.90 on Monday. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.03 and a quick ratio of 0.03. The company has a market capitalization of $856.35 million, a price-to-earnings ratio of 24.42, a P/E/G ratio of 1.71 and a beta of 0.93. The business’s 50-day moving average is $55.71 and its 200-day moving average is $55.89. Centerspace has a fifty-two week low of $46.74 and a fifty-two week high of $66.99.

Insider Transactions at Centerspace

In related news, Director John A. Schissel acquired 500 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were acquired at an average cost of $56.40 per share, with a total value of $28,200.00. Following the purchase, the director now owns 9,522 shares of the company’s stock, valued at $537,040.80. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.96% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Centerspace

A number of hedge funds have recently bought and sold shares of the company. First Trust Advisors LP lifted its holdings in shares of Centerspace by 5.1% during the first quarter. First Trust Advisors LP now owns 3,030 shares of the company’s stock worth $297,000 after buying an additional 146 shares during the last quarter. Vident Investment Advisory LLC raised its stake in Centerspace by 0.9% during the 1st quarter. Vident Investment Advisory LLC now owns 16,947 shares of the company’s stock valued at $1,663,000 after purchasing an additional 146 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Centerspace by 1.0% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 18,761 shares of the company’s stock valued at $1,530,000 after purchasing an additional 182 shares during the period. Alps Advisors Inc. grew its position in Centerspace by 3.2% in the 4th quarter. Alps Advisors Inc. now owns 6,886 shares of the company’s stock worth $404,000 after purchasing an additional 212 shares during the last quarter. Finally, Great West Life Assurance Co. Can grew its position in Centerspace by 0.8% in the 1st quarter. Great West Life Assurance Co. Can now owns 28,846 shares of the company’s stock worth $1,577,000 after purchasing an additional 224 shares during the last quarter. 79.00% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada reiterated an “outperform” rating and issued a $63.00 target price on shares of Centerspace in a research report on Friday. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Centerspace currently has an average rating of “Moderate Buy” and an average target price of $64.71.

Read Our Latest Analysis on CSR

About Centerspace

(Get 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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Dividend History for Centerspace (NYSE:CSR)

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