Silvercrest Asset Management Group LLC Buys 54,204 Shares of Centerspace (NYSE:CSR)

Silvercrest Asset Management Group LLC increased its stake in shares of Centerspace (NYSE:CSR) by 6.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 834,251 shares of the company’s stock after acquiring an additional 54,204 shares during the period. Silvercrest Asset Management Group LLC owned about 5.03% of Centerspace worth $55,186,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. ProShare Advisors LLC raised its holdings in Centerspace by 56.4% during the fourth quarter. ProShare Advisors LLC now owns 4,987 shares of the company’s stock worth $330,000 after acquiring an additional 1,799 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Centerspace by 7.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,503 shares of the company’s stock valued at $959,000 after buying an additional 1,024 shares during the period. Graham Capital Management L.P. bought a new stake in Centerspace in the fourth quarter valued at approximately $227,000. Deutsche Bank AG raised its stake in Centerspace by 28.5% in the fourth quarter. Deutsche Bank AG now owns 19,400 shares of the company’s stock valued at $1,283,000 after buying an additional 4,301 shares during the period. Finally, Cubist Systematic Strategies LLC raised its stake in Centerspace by 163.1% in the fourth quarter. Cubist Systematic Strategies LLC now owns 28,052 shares of the company’s stock valued at $1,856,000 after buying an additional 17,391 shares during the period. Institutional investors own 79.00% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on CSR shares. Piper Sandler dropped their price objective on Centerspace from $75.00 to $68.00 and set a “neutral” rating on the stock in a research note on Monday, May 5th. Raymond James upgraded Centerspace from an “outperform” rating to a “strong-buy” rating and upped their price objective for the company from $66.00 to $69.00 in a research note on Thursday. BMO Capital Markets upgraded Centerspace from a “market perform” rating to an “outperform” rating and set a $77.00 price objective on the stock in a research note on Friday, April 4th. UBS Group started coverage on Centerspace in a research note on Monday, April 7th. They issued a “neutral” rating and a $67.00 price objective on the stock. Finally, Wells Fargo & Company started coverage on Centerspace in a research note on Wednesday, March 19th. They issued an “equal weight” rating and a $68.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Centerspace has a consensus rating of “Moderate Buy” and an average price target of $71.56.

Centerspace Price Performance

Centerspace stock opened at $63.05 on Friday. Centerspace has a 12 month low of $54.13 and a 12 month high of $76.16. The stock’s 50 day moving average is $60.95 and its 200-day moving average is $64.50. The company has a current ratio of 0.04, a quick ratio of 0.05 and a debt-to-equity ratio of 0.74. The company has a market capitalization of $1.06 billion, a price-to-earnings ratio of -49.65 and a beta of 0.77.

Centerspace (NYSE:CSR) last posted its earnings results on Thursday, May 1st. The company reported $1.21 EPS for the quarter, meeting the consensus estimate of $1.21. Centerspace had a negative return on equity of 1.34% and a negative net margin of 4.34%. The company had revenue of $67.09 million for the quarter, compared to the consensus estimate of $66.70 million. Equities 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. Investors of record on Friday, March 28th were given a dividend of $0.77 per share. 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 4.89%. This is an increase from Centerspace’s previous quarterly dividend of $0.75. Centerspace’s dividend payout ratio is currently -275.00%.

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.