CSR

Centerspace (CSR) Declares $0.73 Dividend

Centerspace said on March 3, 2023 that its board of directors declared a regular quarterly dividend of $0.73 per share ($2.92 annualized). Previously, the company paid $0.73 per share.

Shares must be purchased before the ex-div date of March 30, 2023 to qualify for the dividend. Shareholders of record as of March 31, 2023 will receive the payment on April 10, 2023.

At the current share price of $62.66 / share, the stock's dividend yield is 4.66%. Looking back five years and taking a sample every week, the average dividend yield has been 4.14%, the lowest has been 2.64%, and the highest has been 5.96%. The standard deviation of yields is 0.78 (n=236).

The current dividend yield is 0.67 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is -3.26. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 0.04%, demonstrating that it has increased its dividend over time.

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Analyst Price Forecast Suggests 18.60% Upside

As of March 6, 2023, the average one-year price target for Centerspace is $74.31. The forecasts range from a low of $66.66 to a high of $84.00. The average price target represents an increase of 18.60% from its latest reported closing price of $62.66.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Centerspace is $276MM, an increase of 7.43%. The projected annual non-GAAP EPS is -$0.12.

What is the Fund Sentiment?

There are 394 funds or institutions reporting positions in Centerspace. This is a decrease of 20 owner(s) or 4.83% in the last quarter. Average portfolio weight of all funds dedicated to CSR is 0.11%, a decrease of 16.16%. Total shares owned by institutions decreased in the last three months by 3.12% to 14,026K shares. The put/call ratio of CSR is 1.32, indicating a bearish outlook.

What are Large Shareholders Doing?

CSR / Centerspace Shares Held by Institutions

IJR - iShares Core S&P Small-Cap ETF holds 1,117K shares representing 7.43% ownership of the company. In it's prior filing, the firm reported owning 1,125K shares, representing a decrease of 0.77%. The firm decreased its portfolio allocation in CSR by 21.32% over the last quarter.

Wellington Management Group Llp holds 1,054K shares representing 7.02% ownership of the company. In it's prior filing, the firm reported owning 928K shares, representing an increase of 11.99%. The firm decreased its portfolio allocation in CSR by 6.78% over the last quarter.

VGSIX - Vanguard Real Estate Index Fund Investor Shares holds 696K shares representing 4.64% ownership of the company. In it's prior filing, the firm reported owning 690K shares, representing an increase of 1.00%. The firm decreased its portfolio allocation in CSR by 1.86% over the last quarter.

Renaissance Technologies holds 470K shares representing 3.13% ownership of the company. In it's prior filing, the firm reported owning 487K shares, representing a decrease of 3.75%. The firm decreased its portfolio allocation in CSR by 18.76% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 455K shares representing 3.03% ownership of the company. In it's prior filing, the firm reported owning 451K shares, representing an increase of 0.93%. The firm decreased its portfolio allocation in CSR by 18.76% over the last quarter.

Centerspace Background Information
(This description is provided by the company.)

Centerspace is an owner and operator of apartment communities committed to providing great homes by focusing on integrity and serving others. Founded in 1970, the company currently owns 79 apartment communities consisting of 14,275 homes located in Colorado, Minnesota, Montana, Nebraska, North Dakota, and South Dakota. Centerspace was named a Top Workplace for 2021 by the Minneapolis Star Tribune.

This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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