Nomura Asset Management Co. Ltd. Buys 3,880 Shares of Centerspace (NYSE:CSR)

Nomura Asset Management Co. Ltd. boosted its stake in shares of Centerspace (NYSE:CSR) by 21.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 22,150 shares of the company’s stock after purchasing an additional 3,880 shares during the period. Nomura Asset Management Co. Ltd. owned 0.13% of Centerspace worth $1,465,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of CSR. Yousif Capital Management LLC raised its stake in shares of Centerspace by 4.6% during the 4th quarter. Yousif Capital Management LLC now owns 6,226 shares of the company’s stock worth $412,000 after purchasing an additional 276 shares in the last quarter. Oregon Public Employees Retirement Fund raised its position in Centerspace by 8.4% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,861 shares of the company’s stock worth $255,000 after acquiring an additional 300 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in Centerspace by 370.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 381 shares of the company’s stock valued at $25,000 after acquiring an additional 300 shares during the last quarter. MetLife Investment Management LLC grew its position in shares of Centerspace by 3.4% in the 3rd quarter. MetLife Investment Management LLC now owns 9,091 shares of the company’s stock valued at $641,000 after acquiring an additional 303 shares during the period. Finally, Daiwa Securities Group Inc. increased its stake in shares of Centerspace by 7.3% during the 4th quarter. Daiwa Securities Group Inc. now owns 5,400 shares of the company’s stock worth $357,000 after purchasing an additional 368 shares during the last quarter. 79.00% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Janney Montgomery Scott upgraded Centerspace from a “neutral” rating to a “buy” rating and set a $72.00 price target for the company in a report on Wednesday, January 15th. Royal Bank of Canada lifted their target price on Centerspace from $72.00 to $73.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Wedbush initiated coverage on Centerspace in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $72.00 price target on the stock. Finally, Wells Fargo & Company began coverage on shares of Centerspace in a research report on Wednesday, March 19th. They set an “equal weight” rating and a $68.00 price objective for the company. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $73.63.

Centerspace Trading Up 0.4 %

Shares of Centerspace stock opened at $64.58 on Thursday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.05 and a current ratio of 0.04. The firm has a 50-day moving average of $63.37 and a 200-day moving average of $67.18. Centerspace has a 52-week low of $54.90 and a 52-week high of $76.16. The stock has a market cap of $1.08 billion, a PE ratio of -50.85 and a beta of 0.91.

Centerspace (NYSE:CSR) last posted its quarterly earnings data on Tuesday, February 18th. The company reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $1.36. Centerspace had a negative net margin of 4.34% and a negative return on equity of 1.34%. The firm had revenue of $66.41 million during the quarter, compared to the consensus estimate of $65.96 million. As a group, sell-side analysts forecast that Centerspace will post 4.94 EPS for the current year.

Centerspace Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 8th. Shareholders of record on Friday, March 28th will be paid a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 4.77%. The ex-dividend date of this dividend is Friday, March 28th. This is a positive change from Centerspace’s previous quarterly dividend of $0.75. Centerspace’s dividend payout ratio (DPR) is -242.52%.

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.