abrdn plc Invests $210,000 in Centerspace (NYSE:CSR)

abrdn plc acquired a new stake in shares of Centerspace (NYSE:CSR) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,973 shares of the company’s stock, valued at approximately $210,000.

A number of other institutional investors have also made changes to their positions in CSR. Vanguard Group Inc. raised its holdings 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 acquiring an additional 9,984 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Centerspace by 6.9% in the second quarter. Dimensional Fund Advisors LP now owns 223,770 shares of the company’s stock worth $15,134,000 after purchasing an additional 14,440 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Centerspace by 0.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 139,188 shares of the company’s stock worth $9,413,000 after purchasing an additional 605 shares during the last quarter. Westwood Holdings Group Inc. boosted its stake in Centerspace by 10.8% during the 2nd quarter. Westwood Holdings Group Inc. now owns 99,718 shares of the company’s stock valued at $6,744,000 after purchasing an additional 9,718 shares during the period. Finally, Janus Henderson Group PLC grew its holdings in Centerspace by 1,438.2% in 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 during the last quarter. 79.00% of the stock is owned by institutional investors.

Centerspace Stock Up 1.2 %

Shares of CSR stock opened at $69.32 on Wednesday. Centerspace has a one year low of $50.36 and a one year high of $76.16. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.05 and a quick ratio of 0.05. The stock has a fifty day moving average price of $72.03 and a 200 day moving average price of $70.11. The stock has a market cap of $1.15 billion, a P/E ratio of -43.06, a price-to-earnings-growth ratio of 1.97 and a beta of 0.89.

Centerspace (NYSE:CSR) last released 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). The business had revenue of $65.03 million for the quarter, compared to the consensus estimate of $66.35 million. Centerspace had a negative return on equity of 1.72% and a negative net margin of 5.57%. During the same period in the previous year, the business posted $1.20 earnings per share. Analysts predict that Centerspace will post 4.85 earnings per share for the current year.

Centerspace Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Monday, September 30th were paid a $0.75 dividend. The ex-dividend date was Monday, September 30th. This represents a $3.00 annualized dividend and a dividend yield of 4.33%. Centerspace’s dividend payout ratio is currently -186.33%.

Analysts Set New Price Targets

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