Zurcher Kantonalbank Zurich Cantonalbank Reduces Stake in Centerspace (NYSE:CSR)

Zurcher Kantonalbank Zurich Cantonalbank lessened its position in shares of Centerspace (NYSE:CSR) by 6.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,893 shares of the company’s stock after selling 342 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Centerspace were worth $285,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Meeder Asset Management Inc. purchased a new stake in shares of Centerspace during the 4th quarter valued at about $149,000. DekaBank Deutsche Girozentrale grew its position in Centerspace by 18.8% during the third quarter. DekaBank Deutsche Girozentrale now owns 3,709 shares of the company’s stock valued at $224,000 after buying an additional 587 shares during the period. Capital Square LLC increased its holdings in Centerspace by 11.2% during the third quarter. Capital Square LLC now owns 6,482 shares of the company’s stock valued at $357,000 after buying an additional 651 shares during the last quarter. Nisa Investment Advisors LLC raised its position in Centerspace by 4.6% in the third quarter. Nisa Investment Advisors LLC now owns 6,605 shares of the company’s stock worth $398,000 after acquiring an additional 290 shares during the period. Finally, Louisiana State Employees Retirement System bought a new position in Centerspace in the fourth quarter worth approximately $436,000. Institutional investors own 79.00% of the company’s stock.

Insider Activity

In related news, Director John A. Schissel bought 500 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 9,522 shares in the company, valued at $537,040.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on CSR shares. Royal Bank of Canada boosted their price objective on shares of Centerspace from $66.00 to $68.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. Compass Point lowered Centerspace from a “buy” rating to a “neutral” rating and boosted their price target for the company from $65.00 to $68.00 in a report on Friday. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $63.00 price objective on shares of Centerspace in a research note on Tuesday, March 26th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $66.17.

Centerspace Trading Down 0.4 %

Shares of Centerspace stock opened at $68.71 on Monday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.03 and a current ratio of 0.04. The company has a fifty day moving average of $59.26 and a 200 day moving average of $56.25. The company has a market capitalization of $1.02 billion, a P/E ratio of -85.89, a P/E/G ratio of 2.07 and a beta of 0.87. Centerspace has a fifty-two week low of $46.74 and a fifty-two week high of $69.97.

Centerspace (NYSE:CSR) last released its quarterly earnings data on Monday, April 29th. The company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of $1.12 by ($1.49). Centerspace had a negative return on equity of 0.73% and a negative net margin of 2.38%. The business had revenue of $64.51 million during the quarter, compared to the consensus estimate of $65.30 million. During the same period last year, the company earned $1.07 EPS. On average, sell-side analysts anticipate that Centerspace will post 4.75 earnings per share for the current fiscal year.

Centerspace Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 8th. Shareholders of record on Thursday, March 28th were issued a dividend of $0.75 per share. This is a positive change from Centerspace’s previous quarterly dividend of $0.73. This represents a $3.00 dividend on an annualized basis and a yield of 4.37%. The ex-dividend date was Wednesday, March 27th. Centerspace’s dividend payout ratio (DPR) is -375.00%.

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 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.