Charles Schwab Investment Management Inc. Has $17.14 Million Stake in Centerspace (NYSE:CSR)

Charles Schwab Investment Management Inc. lessened its stake in Centerspace (NYSE:CSR - Free Report) by 6.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 259,089 shares of the company's stock after selling 16,422 shares during the period. Charles Schwab Investment Management Inc. owned 1.56% of Centerspace worth $17,139,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of CSR. Wellington Management Group LLP boosted its stake in shares of Centerspace by 6.4% in the 3rd quarter. Wellington Management Group LLP now owns 1,019,353 shares of the company's stock valued at $71,834,000 after purchasing an additional 61,394 shares during the last quarter. State Street Corp grew its holdings in Centerspace by 0.5% during the 3rd quarter. State Street Corp now owns 897,749 shares of the company's stock worth $63,931,000 after acquiring an additional 4,263 shares during the period. Geode Capital Management LLC raised its position in shares of Centerspace by 3.1% during the 3rd quarter. Geode Capital Management LLC now owns 387,517 shares of the company's stock valued at $27,314,000 after acquiring an additional 11,749 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Centerspace by 25.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 193,242 shares of the company's stock valued at $13,618,000 after acquiring an additional 39,380 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Centerspace by 3.0% in the 4th quarter. Bank of New York Mellon Corp now owns 126,121 shares of the company's stock valued at $8,343,000 after purchasing an additional 3,645 shares during the period. Institutional investors and hedge funds own 79.00% of the company's stock.

Analysts Set New Price Targets

CSR has been the subject of a number of recent analyst reports. Royal Bank of Canada upped their price objective on Centerspace from $72.00 to $73.00 and gave the company an "outperform" rating in a report on Thursday, February 20th. Janney Montgomery Scott upgraded shares of Centerspace from a "neutral" rating to a "buy" rating and set a $72.00 price target on the stock in a research report on Wednesday, January 15th. Wells Fargo & Company assumed coverage on shares of Centerspace in a report on Wednesday, March 19th. They set an "equal weight" rating and a $68.00 price objective for the company. Finally, Wedbush assumed coverage on shares of Centerspace in a report on Tuesday, December 17th. They issued a "neutral" rating and a $72.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Centerspace currently has an average rating of "Hold" and a consensus price target of $73.63.

Centerspace Stock Up 1.5 %

Shares of Centerspace stock traded up $0.93 on Monday, hitting $64.71. The company had a trading volume of 58,954 shares, compared to its average volume of 104,460. Centerspace has a twelve month low of $54.90 and a twelve month high of $76.16. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.04 and a quick ratio of 0.05. The stock has a 50-day moving average of $62.86 and a 200-day moving average of $67.68. The firm has a market capitalization of $1.08 billion, a P/E ratio of -50.95 and a beta of 0.91.

Centerspace (NYSE:CSR - Get Free Report) last announced its earnings results on Tuesday, February 18th. The company reported $1.21 earnings per share for the quarter, topping analysts' consensus estimates of ($0.15) by $1.36. Centerspace had a negative net margin of 4.34% and a negative return on equity of 1.34%. The firm had revenue of $66.41 million during the quarter, compared to analyst estimates of $65.96 million. Research analysts predict that Centerspace will post 4.94 earnings per share for the current year.

Centerspace Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 8th. Investors of record on Friday, March 28th will be given a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 4.76%. The ex-dividend date of this dividend is Friday, March 28th. This is a positive change from Centerspace's previous quarterly dividend of $0.75. Centerspace's dividend payout ratio (DPR) is currently -242.52%.

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.