Phocas Financial Corp. Sells 3,910 Shares of Centerspace (NYSE:CSR)

Phocas Financial Corp. lowered its stake in shares of Centerspace (NYSE:CSR) by 6.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 53,941 shares of the company’s stock after selling 3,910 shares during the period. Phocas Financial Corp. owned 0.33% of Centerspace worth $3,801,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. increased its position in Centerspace by 35.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 579 shares of the company’s stock worth $41,000 after buying an additional 150 shares during the last quarter. Asset Management One Co. Ltd. increased its holdings in shares of Centerspace by 0.7% during the 3rd quarter. Asset Management One Co. Ltd. now owns 23,116 shares of the company’s stock worth $1,629,000 after acquiring an additional 170 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Centerspace by 3.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,736 shares of the company’s stock worth $388,000 after acquiring an additional 171 shares during the last quarter. State of Alaska Department of Revenue raised its stake in Centerspace by 1.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 16,110 shares of the company’s stock valued at $1,134,000 after acquiring an additional 208 shares during the period. Finally, Van ECK Associates Corp lifted its holdings in Centerspace by 15.2% during the 3rd quarter. Van ECK Associates Corp now owns 2,626 shares of the company’s stock valued at $186,000 after purchasing an additional 347 shares during the last quarter. Institutional investors and hedge funds own 79.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on CSR shares. Piper Sandler increased their price objective on shares of Centerspace from $64.00 to $75.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. BTIG Research raised their price objective on shares of Centerspace from $69.00 to $79.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Raymond James downgraded Centerspace from an “outperform” rating to a “market perform” rating in a research report on Monday, October 21st. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $76.00 price target on shares of Centerspace in a report on Wednesday, October 30th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Centerspace currently has an average rating of “Hold” and an average price target of $76.00.

Centerspace Trading Down 0.0 %

Centerspace stock opened at $72.51 on Tuesday. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.70. The firm’s fifty day moving average is $71.61 and its 200 day moving average is $70.59. Centerspace has a 12-month low of $52.26 and a 12-month high of $76.16.

Centerspace (NYSE:CSR) last issued its earnings results on Monday, October 28th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate of $1.17 by ($1.57). The firm had revenue of $65.03 million during the quarter, compared to analyst estimates of $66.35 million. Centerspace had a negative net margin of 5.57% and a negative return on equity of 1.72%. During the same quarter in the prior year, the business earned $1.20 earnings per share. As a group, research analysts predict that Centerspace will post 4.85 EPS for the current fiscal year.

Centerspace Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Monday, September 30th were given a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 4.14%. The ex-dividend date of this dividend was Monday, September 30th. Centerspace’s payout ratio is currently -186.33%.

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.