Invesco Ltd. Purchases 5,908 Shares of Centerspace (NYSE:CSR)

Invesco Ltd. boosted its position in Centerspace (NYSE:CSR - Free Report) by 6.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 102,296 shares of the company's stock after buying an additional 5,908 shares during the period. Invesco Ltd. owned approximately 0.62% of Centerspace worth $6,767,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Centerspace by 8.2% in the fourth quarter. Vanguard Group Inc. now owns 2,594,366 shares of the company's stock valued at $171,617,000 after purchasing an additional 195,629 shares during the last quarter. Geode Capital Management LLC increased its holdings in Centerspace by 7.3% during the fourth quarter. Geode Capital Management LLC now owns 415,680 shares of the company's stock worth $27,503,000 after buying an additional 28,163 shares during the last quarter. JPMorgan Chase & Co. raised its position in Centerspace by 17.7% in the fourth quarter. JPMorgan Chase & Co. now owns 227,399 shares of the company's stock worth $15,042,000 after acquiring an additional 34,157 shares during the period. Bank of New York Mellon Corp grew its position in shares of Centerspace by 3.0% during 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 acquiring an additional 3,645 shares during the period. Finally, Barclays PLC increased its stake in shares of Centerspace by 1,553.4% during the 3rd quarter. Barclays PLC now owns 102,859 shares of the company's stock worth $7,249,000 after purchasing an additional 96,638 shares during the last quarter. 79.00% of the stock is owned by institutional investors and hedge funds.

Centerspace Price Performance

Shares of CSR stock traded down $0.10 on Friday, reaching $59.58. The company's stock had a trading volume of 86,729 shares, compared to its average volume of 111,487. The company has a market capitalization of $996.54 million, a P/E ratio of -46.91 and a beta of 0.79. The company has a quick ratio of 0.05, a current ratio of 0.04 and a debt-to-equity ratio of 0.74. The stock's 50 day simple moving average is $62.14 and its 200-day simple moving average is $65.38. Centerspace has a 12-month low of $54.13 and a 12-month high of $76.16.

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, beating 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 business had revenue of $66.41 million for the quarter, compared to the consensus estimate of $65.96 million. As a group, equities analysts predict that Centerspace will post 4.94 earnings per share for the current fiscal year.

Centerspace Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 8th. Shareholders of record on Friday, March 28th were paid a $0.77 dividend. The ex-dividend date was Friday, March 28th. This represents a $3.08 annualized dividend and a yield of 5.17%. This is a positive change from Centerspace's previous quarterly dividend of $0.75. Centerspace's dividend payout ratio is currently -242.52%.

Analyst Ratings Changes

Several research firms have recently weighed in on CSR. Royal Bank of Canada increased their price target on Centerspace from $72.00 to $73.00 and gave the stock an "outperform" rating in a research note on Thursday, February 20th. Janney Montgomery Scott upgraded shares of Centerspace from a "neutral" rating to a "buy" rating and set a $72.00 target price for the company in a research note on Wednesday, January 15th. Raymond James upgraded shares of Centerspace from a "market perform" rating to an "outperform" rating and set a $66.00 price target on the stock in a research note on Monday, April 21st. Wells Fargo & Company assumed coverage on shares of Centerspace in a research note on Wednesday, March 19th. They issued an "equal weight" rating and a $68.00 price objective for the company. Finally, BMO Capital Markets upgraded Centerspace from a "market perform" rating to an "outperform" rating and set a $77.00 target price on the stock in a research report on Friday, April 4th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Centerspace currently has a consensus rating of "Moderate Buy" and an average target price of $71.70.

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.