Boothbay Fund Management LLC Has $1.25 Million Stock Position in Centerspace (NYSE:CSR)

Boothbay Fund Management LLC lessened its stake in Centerspace (NYSE:CSR) by 87.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,827 shares of the company’s stock after selling 133,031 shares during the quarter. Boothbay Fund Management LLC’s holdings in Centerspace were worth $1,245,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Smartleaf Asset Management LLC increased its holdings in shares of 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 purchasing an additional 300 shares in the last quarter. Sterling Capital Management LLC lifted its holdings in Centerspace by 903.8% during the 4th quarter. Sterling Capital Management LLC now owns 522 shares of the company’s stock worth $35,000 after buying an additional 470 shares in the last quarter. KBC Group NV boosted its position in Centerspace by 75.9% in the 4th quarter. KBC Group NV now owns 1,080 shares of the company’s stock valued at $71,000 after buying an additional 466 shares during the last quarter. Summit Investment Advisors Inc. increased its stake in shares of Centerspace by 15.2% in the 4th quarter. Summit Investment Advisors Inc. now owns 1,732 shares of the company’s stock valued at $115,000 after buying an additional 229 shares during the period. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of Centerspace during the fourth quarter worth $196,000. 79.00% of the stock is owned by institutional investors.

Centerspace Price Performance

CSR opened at $60.23 on Tuesday. The stock has a market cap of $1.01 billion, a P/E ratio of -47.43 and a beta of 0.79. Centerspace has a 12 month low of $54.13 and a 12 month high of $76.16. The company has a quick ratio of 0.05, a current ratio of 0.04 and a debt-to-equity ratio of 0.74. The company has a fifty day simple moving average of $62.07 and a 200 day simple moving average of $65.32.

Centerspace (NYSE:CSR) last announced its quarterly earnings results on Tuesday, February 18th. The company reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $1.36. Centerspace had a negative return on equity of 1.34% and a negative net margin of 4.34%. The company had revenue of $66.41 million during the quarter, compared to the consensus estimate of $65.96 million. On average, research analysts expect that Centerspace will post 4.94 EPS for the current year.

Centerspace Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 8th. Shareholders of record on Friday, March 28th were paid a $0.77 dividend. The ex-dividend date of this dividend was Friday, March 28th. This represents a $3.08 dividend on an annualized basis and a yield of 5.11%. This is a positive change from Centerspace’s previous quarterly dividend of $0.75. Centerspace’s payout ratio is presently -242.52%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on CSR shares. BMO Capital Markets upgraded Centerspace from a “market perform” rating to an “outperform” rating and set a $77.00 price target on the stock in a report on Friday, April 4th. Wells Fargo & Company started coverage on shares of Centerspace in a research note on Wednesday, March 19th. They issued an “equal weight” rating and a $68.00 target price on the stock. Janney Montgomery Scott raised shares of Centerspace from a “neutral” rating to a “buy” rating and set a $72.00 price target for the company in a research note on Wednesday, January 15th. Royal Bank of Canada raised their price objective on shares of Centerspace from $72.00 to $73.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Finally, UBS Group assumed coverage on shares of Centerspace in a research report on Monday, April 7th. They set a “neutral” rating and a $67.00 target price for the company. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $71.70.

Centerspace 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.