Centerspace (NYSE:CSR) Earns Outperform Rating from Royal Bank of Canada

Royal Bank of Canada reiterated their outperform rating on shares of Centerspace (NYSE:CSRFree Report) in a report published on Friday, Benzinga reports. They currently have a $63.00 price objective on the stock.

Centerspace Price Performance

Shares of CSR stock opened at $56.90 on Friday. The stock’s fifty day simple moving average is $55.71 and its 200 day simple moving average is $55.89. 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 firm has a market cap 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. Centerspace has a one year low of $46.74 and a one year high of $66.99.

Centerspace Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 8th. Investors of record on Thursday, March 28th will be paid a $0.75 dividend. This is a positive change from Centerspace’s previous quarterly dividend of $0.73. The ex-dividend date is Wednesday, March 27th. This represents a $3.00 annualized dividend and a yield of 5.27%. Centerspace’s payout ratio is currently 125.32%.

Insider Activity at Centerspace

In other Centerspace news, Director John A. Schissel acquired 500 shares of the business’s stock in a transaction on Monday, March 11th. The stock was purchased at an average price of $56.40 per share, for a total transaction of $28,200.00. Following the transaction, the director now owns 9,522 shares in the company, valued at approximately $537,040.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.86% of the stock is owned by insiders.

Hedge Funds Weigh In On Centerspace

Several institutional investors have recently bought and sold shares of CSR. BlackRock Inc. raised its position in shares of Centerspace by 2.2% during the first quarter. BlackRock Inc. now owns 2,736,058 shares of the company’s stock worth $268,463,000 after acquiring an additional 58,404 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Centerspace by 1.7% during the third quarter. Vanguard Group Inc. now owns 2,478,106 shares of the company’s stock worth $166,826,000 after acquiring an additional 42,104 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Centerspace by 27.8% during the first quarter. Wellington Management Group LLP now owns 1,180,660 shares of the company’s stock worth $115,846,000 after acquiring an additional 257,030 shares during the last quarter. State Street Corp raised its position in shares of Centerspace by 1.1% during the second quarter. State Street Corp now owns 988,528 shares of the company’s stock worth $61,364,000 after acquiring an additional 10,756 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Centerspace by 1.7% during the second quarter. Geode Capital Management LLC now owns 331,088 shares of the company’s stock worth $20,316,000 after acquiring an additional 5,500 shares during the last quarter. Institutional investors own 78.97% of the company’s stock.

Centerspace Company Profile

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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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