Pacific Heights Asset Management LLC Boosts Stock Holdings in Centerspace $CSR

Pacific Heights Asset Management LLC raised its holdings in shares of Centerspace (NYSE:CSR) by 22.2% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 275,000 shares of the company’s stock after purchasing an additional 50,000 shares during the period. Pacific Heights Asset Management LLC’s holdings in Centerspace were worth $18,348,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Doliver Advisors LP increased its position in Centerspace by 3.0% during the 4th quarter. Doliver Advisors LP now owns 5,930 shares of the company’s stock valued at $396,000 after purchasing an additional 170 shares during the period. Amalgamated Bank increased its position in Centerspace by 4.1% during the 3rd quarter. Amalgamated Bank now owns 4,927 shares of the company’s stock valued at $290,000 after purchasing an additional 194 shares during the period. State of Alaska Department of Revenue increased its position in Centerspace by 1.2% during the 4th quarter. State of Alaska Department of Revenue now owns 17,657 shares of the company’s stock valued at $1,176,000 after purchasing an additional 212 shares during the period. State of Tennessee Department of Treasury increased its position in Centerspace by 3.7% during the 2nd quarter. State of Tennessee Department of Treasury now owns 6,877 shares of the company’s stock valued at $414,000 after purchasing an additional 247 shares during the period. Finally, Capital Square LLC increased its position in Centerspace by 3.0% during the 3rd quarter. Capital Square LLC now owns 8,620 shares of the company’s stock valued at $508,000 after purchasing an additional 253 shares during the period. Hedge funds and other institutional investors own 79.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Wall Street Zen raised shares of Centerspace from a “strong sell” rating to a “sell” rating in a research report on Sunday. Piper Sandler raised shares of Centerspace from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $69.00 to $72.00 in a research report on Tuesday, April 7th. Royal Bank Of Canada lifted their price objective on shares of Centerspace from $70.00 to $71.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 6th. Wells Fargo & Company cut their price objective on shares of Centerspace from $74.00 to $69.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 5th. Finally, UBS Group lifted their price objective on shares of Centerspace from $66.00 to $70.00 and gave the stock a “neutral” rating in a research report on Thursday. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $69.40.

Centerspace Stock Up 0.1%

NYSE:CSR opened at $67.02 on Monday. The company has a market cap of $1.13 billion, a PE ratio of 148.94 and a beta of 0.89. Centerspace has a twelve month low of $52.76 and a twelve month high of $69.61. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.88. The company’s 50 day moving average is $62.97 and its two-hundred day moving average is $63.88.

Centerspace (NYSE:CSR) last released its earnings results on Monday, May 4th. The company reported ($0.77) earnings per share for the quarter, missing the consensus estimate of ($0.29) by ($0.48). The company had revenue of $65.07 million for the quarter, compared to analysts’ expectations of $66.54 million. Centerspace had a return on equity of 0.94% and a net margin of 2.93%.Centerspace has set its FY 2026 guidance at 4.810-5.050 EPS. Analysts anticipate that Centerspace will post 4.85 EPS for the current year.

Centerspace Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 14th. Shareholders of record on Monday, March 30th were given 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, March 30th. Centerspace’s payout ratio is currently 684.44%.

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. Centerspace was named a Top Workplace for the fourth consecutive year in 2023 by the Minneapolis Star Tribune.