Loomis Sayles & Co. L P Increases Stock Position in Centerspace (NYSE:CSR)

Loomis Sayles & Co. L P raised its position in Centerspace (NYSE:CSR) by 3,131.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 614 shares of the company’s stock after buying an additional 595 shares during the period. Loomis Sayles & Co. L P’s holdings in Centerspace were worth $43,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Boston Partners purchased a new position in shares of Centerspace in the 1st quarter valued at about $545,000. Price T Rowe Associates Inc. MD grew its holdings in Centerspace by 5.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,191 shares of the company’s stock valued at $697,000 after purchasing an additional 652 shares during the period. Millennium Management LLC increased its position in shares of Centerspace by 377.3% in the second quarter. Millennium Management LLC now owns 43,604 shares of the company’s stock valued at $2,949,000 after buying an additional 34,469 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Centerspace by 3.6% during the 3rd quarter. Principal Financial Group Inc. now owns 81,338 shares of the company’s stock worth $5,732,000 after buying an additional 2,852 shares during the period. Finally, Janus Henderson Group PLC lifted its position in shares of Centerspace by 1,438.2% during the 1st quarter. Janus Henderson Group PLC now owns 97,940 shares of the company’s stock valued at $5,597,000 after buying an additional 91,573 shares in the last quarter. Institutional investors and hedge funds own 79.00% of the company’s stock.

Centerspace Price Performance

Shares of NYSE CSR opened at $73.27 on Friday. The firm has a 50-day simple moving average of $71.50 and a 200-day simple moving average of $70.75. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of -45.51, a price-to-earnings-growth ratio of 2.16 and a beta of 0.89. Centerspace has a 52 week low of $52.26 and a 52 week high of $76.16.

Centerspace (NYSE:CSR) last released its earnings results on Monday, October 28th. The company reported ($0.40) earnings per share 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 business had revenue of $65.03 million during the quarter, compared to analysts’ expectations of $66.35 million. During the same period last year, the business earned $1.20 earnings per share. On average, equities analysts predict that Centerspace will post 4.86 earnings per share for the current fiscal year.

Centerspace Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Monday, September 30th were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $3.00 annualized dividend and a dividend yield of 4.09%. Centerspace’s payout ratio is -186.34%.

Analysts Set New Price Targets

CSR has been the subject of several recent analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $76.00 price target on shares of Centerspace in a report on Wednesday, October 30th. BTIG Research boosted their target price on shares of Centerspace from $69.00 to $79.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Finally, Raymond James lowered shares of Centerspace from an “outperform” rating to a “market perform” rating in a research note on Monday, October 21st. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, Centerspace presently has a consensus rating of “Hold” and a consensus price target of $76.00.

About Centerspace

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.