Mirae Asset Global Investments Co. Ltd. Buys 150 Shares of Centerspace (NYSE:CSR)

Mirae Asset Global Investments Co. Ltd. raised its stake in Centerspace (NYSE:CSR) by 35.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 579 shares of the company’s stock after purchasing an additional 150 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Centerspace were worth $41,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of CSR. Allspring Global Investments Holdings LLC bought a new position in Centerspace in the first quarter valued at approximately $173,000. Daiwa Securities Group Inc. lifted its position in shares of Centerspace by 4.9% in the first quarter. Daiwa Securities Group Inc. now owns 4,764 shares of the company’s stock valued at $272,000 after buying an additional 222 shares during the last quarter. Texas Permanent School Fund Corp lifted its position in shares of Centerspace by 1.4% in the first quarter. Texas Permanent School Fund Corp now owns 13,174 shares of the company’s stock valued at $753,000 after buying an additional 176 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its position in shares of Centerspace by 20.9% in the first quarter. State Board of Administration of Florida Retirement System now owns 5,214 shares of the company’s stock valued at $285,000 after buying an additional 900 shares during the last quarter. Finally, Centersquare Investment Management LLC lifted its position in shares of Centerspace by 24.8% in the first quarter. Centersquare Investment Management LLC now owns 14,600 shares of the company’s stock valued at $834,000 after buying an additional 2,900 shares during the last quarter. 79.00% of the stock is currently owned by institutional investors.

Centerspace Stock Performance

NYSE:CSR opened at $69.32 on Wednesday. The stock has a market cap of $1.15 billion, a P/E ratio of -42.91, a PEG ratio of 1.97 and a beta of 0.89. The stock has a 50 day simple moving average of $72.03 and a 200 day simple moving average of $70.11. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.70. Centerspace has a 1-year low of $50.36 and a 1-year high of $76.16.

Centerspace (NYSE:CSR) last posted its quarterly earnings data on Monday, October 28th. The company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of $1.17 by ($1.57). Centerspace had a negative return on equity of 1.72% and a negative net margin of 5.57%. The company had revenue of $65.03 million for the quarter, compared to the consensus estimate of $66.35 million. During the same quarter last year, the business earned $1.20 EPS. Research analysts anticipate that Centerspace will post 4.85 earnings per share for the current year.

Centerspace Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Monday, September 30th were paid a dividend of $0.75 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $3.00 dividend on an annualized basis and a yield of 4.33%. Centerspace’s dividend payout ratio (DPR) is presently -186.33%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on CSR shares. Piper Sandler raised their price objective on Centerspace from $64.00 to $75.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Raymond James cut Centerspace from an “outperform” rating to a “market perform” rating in a research report on Monday, October 21st. BTIG Research raised their price objective on Centerspace from $69.00 to $79.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $76.00 price target on shares of Centerspace in a report on Wednesday, October 30th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $76.00.

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.