JPMorgan Chase & Co. increased its position in shares of Centerspace (NYSE:CSR - Free Report) by 17.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 227,399 shares of the company's stock after purchasing an additional 34,157 shares during the period. JPMorgan Chase & Co. owned approximately 1.37% of Centerspace worth $15,042,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Smartleaf Asset Management LLC increased its holdings in shares of Centerspace by 370.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 381 shares of the company's stock worth $25,000 after purchasing an additional 300 shares during the period. KBC Group NV increased its stake in Centerspace by 75.9% during the 4th quarter. KBC Group NV now owns 1,080 shares of the company's stock worth $71,000 after acquiring an additional 466 shares during the period. KLP Kapitalforvaltning AS acquired a new position in Centerspace in the 4th quarter valued at $196,000. Van ECK Associates Corp lifted its position in shares of Centerspace by 19.4% during the 4th quarter. Van ECK Associates Corp now owns 3,135 shares of the company's stock valued at $207,000 after acquiring an additional 509 shares during the period. Finally, Captrust Financial Advisors acquired a new stake in shares of Centerspace during the 3rd quarter worth $234,000. 79.00% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of research firms recently commented on CSR. Wells Fargo & Company started coverage on Centerspace in a research note on Wednesday, March 19th. They issued an "equal weight" rating and a $68.00 price target for the company. BMO Capital Markets raised shares of Centerspace from a "market perform" rating to an "outperform" rating and set a $77.00 price target for the company in a report on Friday, April 4th. Royal Bank of Canada lifted their price objective on shares of Centerspace from $72.00 to $73.00 and gave the company an "outperform" rating in a research note on Thursday, February 20th. Wedbush initiated coverage on Centerspace in a research note on Tuesday, December 17th. They set a "neutral" rating and a $72.00 target price for the company. Finally, UBS Group initiated coverage on Centerspace in a report on Monday, April 7th. They issued a "neutral" rating and a $67.00 target price on the stock. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $73.30.
Get Our Latest Analysis on CSR
Centerspace Price Performance
Shares of CSR traded down $0.93 during trading hours on Tuesday, reaching $57.07. The stock had a trading volume of 149,389 shares, compared to its average volume of 110,549. The stock has a market capitalization of $954.59 million, a PE ratio of -44.94 and a beta of 0.79. Centerspace has a 12 month low of $54.13 and a 12 month high of $76.16. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.05 and a current ratio of 0.04. The company's 50-day moving average is $62.72 and its two-hundred day moving average is $66.11.
Centerspace (NYSE:CSR - Get Free Report) last posted its earnings results on Tuesday, February 18th. The company reported $1.21 EPS for the quarter, beating the consensus estimate of ($0.15) by $1.36. The firm had revenue of $66.41 million during the quarter, compared to the consensus estimate of $65.96 million. Centerspace had a negative return on equity of 1.34% and a negative net margin of 4.34%. Research analysts expect that Centerspace will post 4.94 EPS for the current year.
Centerspace Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 8th. Shareholders of record on Friday, March 28th were issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 5.40%. This is a positive change from Centerspace's previous quarterly dividend of $0.75. The ex-dividend date was Friday, March 28th. Centerspace's payout ratio is presently -242.52%.
About Centerspace
(
Free Report)
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.
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