Nisa Investment Advisors LLC Sells 1,699 Shares of Centerspace (NYSE:CSR)

Nisa Investment Advisors LLC decreased its stake in shares of Centerspace (NYSE:CSR) by 25.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,906 shares of the company’s stock after selling 1,699 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Centerspace were worth $286,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in CSR. Lazard Asset Management LLC purchased a new position in Centerspace during the 4th quarter valued at about $27,000. Tower Research Capital LLC TRC raised its stake in Centerspace by 82.7% in the third quarter. Tower Research Capital LLC TRC now owns 740 shares of the company’s stock valued at $45,000 after buying an additional 335 shares during the last quarter. Captrust Financial Advisors acquired a new stake in Centerspace in the second quarter worth about $46,000. Russell Investments Group Ltd. acquired a new position in shares of Centerspace during the first quarter valued at about $66,000. Finally, FMR LLC increased its stake in Centerspace by 20.5% during the 1st quarter. FMR LLC now owns 1,382 shares of the company’s stock valued at $75,000 after purchasing an additional 235 shares in the last quarter. 79.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on CSR shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $63.00 target price on shares of Centerspace in a report on Friday, March 22nd. Piper Sandler reaffirmed a “neutral” rating and issued a $63.00 price target on shares of Centerspace in a report on Tuesday, March 26th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $65.57.

Centerspace Price Performance

NYSE:CSR opened at $62.57 on Friday. The stock has a market capitalization of $931.67 million, a PE ratio of 26.85, a price-to-earnings-growth ratio of 1.87 and a beta of 0.93. Centerspace has a 52 week low of $46.74 and a 52 week high of $66.99. The stock’s 50-day moving average price is $56.92 and its 200-day moving average price is $55.61. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.74.

Centerspace Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 8th. Investors of record on Thursday, March 28th were paid a $0.75 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $3.00 dividend on an annualized basis and a yield of 4.79%. This is a boost from Centerspace’s previous quarterly dividend of $0.73. Centerspace’s dividend payout ratio (DPR) is currently 128.76%.

Insider Activity

In other news, Director John A. Schissel bought 500 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were acquired at an average price of $56.40 per share, for a total transaction of $28,200.00. Following the completion of the transaction, the director now directly owns 9,522 shares in the company, valued at approximately $537,040.80. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.86% of the company’s stock.

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.