Raymond James Financial Inc. bought a new position in shares of Centerspace (NYSE:CSR - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,301 shares of the company's stock, valued at approximately $417,000.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Smartleaf Asset Management LLC increased its stake in Centerspace by 370.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 381 shares of the company's stock valued at $25,000 after buying an additional 300 shares during the period. KBC Group NV boosted its holdings in shares of Centerspace by 75.9% in the fourth quarter. KBC Group NV now owns 1,080 shares of the company's stock valued at $71,000 after acquiring an additional 466 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of Centerspace by 19.4% during the fourth quarter. Van ECK Associates Corp now owns 3,135 shares of the company's stock worth $207,000 after acquiring an additional 509 shares during the period. Captrust Financial Advisors purchased a new position in Centerspace during the third quarter worth about $234,000. Finally, Oregon Public Employees Retirement Fund lifted its position in Centerspace by 8.4% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,861 shares of the company's stock valued at $255,000 after purchasing an additional 300 shares during the period. Hedge funds and other institutional investors own 79.00% of the company's stock.
Wall Street Analyst Weigh In
Several equities analysts have issued reports on CSR shares. Janney Montgomery Scott upgraded Centerspace from a "neutral" rating to a "buy" rating and set a $72.00 target price on the stock in a research report on Wednesday, January 15th. Royal Bank of Canada upped their price objective on Centerspace from $72.00 to $73.00 and gave the stock an "outperform" rating in a report on Thursday, February 20th. Wedbush initiated coverage on Centerspace in a report on Tuesday, December 17th. They issued a "neutral" rating and a $72.00 target price for the company. UBS Group began coverage on shares of Centerspace in a research note on Monday, April 7th. They set a "neutral" rating and a $67.00 price target on the stock. Finally, Wells Fargo & Company began 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. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $73.30.
Get Our Latest Analysis on CSR
Centerspace Stock Performance
Shares of CSR traded up $0.34 during trading hours on Friday, reaching $57.26. 89,414 shares of the company's stock traded hands, compared to its average volume of 110,207. Centerspace has a twelve month low of $54.13 and a twelve month high of $76.16. The business's fifty day simple moving average is $62.81 and its two-hundred day simple moving average is $66.21. 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 firm has a market capitalization of $957.79 million, a price-to-earnings ratio of -45.09 and a beta of 0.79.
Centerspace (NYSE:CSR - Get Free Report) last released 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. 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 for the quarter, compared to analysts' expectations of $65.96 million. 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 was paid on Tuesday, April 8th. Shareholders of record on Friday, March 28th were given a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 5.38%. This is an increase from Centerspace's previous quarterly dividend of $0.75. The ex-dividend date was Friday, March 28th. Centerspace's dividend payout ratio is -242.52%.
Centerspace Company Profile
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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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