Centerspace $CSR Shares Bought by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. raised its holdings in shares of Centerspace (NYSE:CSR) by 103.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,176 shares of the company’s stock after purchasing an additional 1,106 shares during the period. PNC Financial Services Group Inc.’s holdings in Centerspace were worth $131,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in Centerspace by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 2,603,360 shares of the company’s stock worth $168,568,000 after buying an additional 8,994 shares during the last quarter. Cbre Investment Management Listed Real Assets LLC boosted its holdings in Centerspace by 157.4% in the first quarter. Cbre Investment Management Listed Real Assets LLC now owns 57,468 shares of the company’s stock worth $3,721,000 after acquiring an additional 35,139 shares in the last quarter. Invesco Ltd. grew its stake in shares of Centerspace by 32.3% during the first quarter. Invesco Ltd. now owns 135,365 shares of the company’s stock worth $8,765,000 after acquiring an additional 33,069 shares during the last quarter. HighTower Advisors LLC acquired a new position in shares of Centerspace during the first quarter valued at about $321,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Centerspace during the first quarter valued at about $728,000. Hedge funds and other institutional investors own 79.00% of the company’s stock.

Centerspace Stock Up 0.2%

NYSE:CSR opened at $66.76 on Friday. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.05 and a quick ratio of 0.05. The company’s fifty day moving average price is $61.31 and its 200-day moving average price is $60.22. Centerspace has a 1-year low of $52.76 and a 1-year high of $74.10. The firm has a market capitalization of $1.12 billion, a P/E ratio of -37.09 and a beta of 0.75.

Centerspace (NYSE:CSR) last posted its quarterly earnings results on Monday, November 3rd. The company reported $1.19 EPS for the quarter, missing the consensus estimate of $1.22 by ($0.03). Centerspace had a negative net margin of 9.13% and a negative return on equity of 2.81%. Centerspace has set its FY 2025 guidance at 4.880-4.960 EPS. As a group, equities research analysts anticipate that Centerspace will post 4.94 EPS for the current year.

Centerspace Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Monday, September 29th were issued a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend was Monday, September 29th. Centerspace’s dividend payout ratio (DPR) is 172.07%.

Analyst Upgrades and Downgrades

CSR has been the topic of several research analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Centerspace in a research report on Tuesday. Piper Sandler lowered their price objective on shares of Centerspace from $68.00 to $66.00 and set a “neutral” rating for the company in a research note on Monday, November 10th. Cantor Fitzgerald reissued a “neutral” rating on shares of Centerspace in a research report on Wednesday, November 12th. Wells Fargo & Company raised their target price on Centerspace from $60.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Monday, November 17th. Finally, UBS Group boosted their price target on Centerspace from $60.00 to $63.00 and gave the company a “neutral” rating in a research note on Monday, November 10th. Three investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $69.67.

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.