Phocas Financial Corp. Has $3.80 Million Stake in Centerspace (NYSE:CSR)

Phocas Financial Corp. lessened its stake in Centerspace (NYSE:CSR) by 6.8% during the third quarter, Holdings Channel reports. The firm owned 53,941 shares of the company’s stock after selling 3,910 shares during the period. Phocas Financial Corp.’s holdings in Centerspace were worth $3,801,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. State Board of Administration of Florida Retirement System boosted its holdings in Centerspace by 20.9% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 5,214 shares of the company’s stock worth $285,000 after acquiring an additional 900 shares during the last quarter. Vanguard Group Inc. grew its position in Centerspace by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 2,401,497 shares of the company’s stock worth $137,222,000 after purchasing an additional 9,984 shares in the last quarter. UniSuper Management Pty Ltd increased its stake in Centerspace by 199.4% in the 1st quarter. UniSuper Management Pty Ltd now owns 12,785 shares of the company’s stock valued at $731,000 after buying an additional 8,515 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its stake in Centerspace by 6.0% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 30,741 shares of the company’s stock valued at $1,758,000 after buying an additional 1,740 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Centerspace by 5.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,191 shares of the company’s stock worth $697,000 after buying an additional 652 shares during the last quarter. Institutional investors own 79.00% of the company’s stock.

Centerspace Trading Down 0.0 %

CSR opened at $72.51 on Tuesday. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.70. The firm has a 50-day moving average price of $71.61 and a 200-day moving average price of $70.59. Centerspace has a twelve month low of $52.26 and a twelve month high of $76.16.

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

Centerspace Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Monday, September 30th were paid a dividend of $0.75 per share. The ex-dividend date was Monday, September 30th. This represents a $3.00 annualized dividend and a yield of 4.14%. Centerspace’s dividend payout ratio is currently -186.33%.

Wall Street Analyst Weigh In

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