Vanguard Group Inc. boosted its stake in shares of Centerspace (NYSE:CSR - Free Report) by 8.2% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,594,366 shares of the company's stock after purchasing an additional 195,629 shares during the period. Vanguard Group Inc. owned approximately 15.66% of Centerspace worth $171,617,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Barclays PLC grew its holdings in Centerspace by 1,553.4% during the third quarter. Barclays PLC now owns 102,859 shares of the company's stock worth $7,249,000 after acquiring an additional 96,638 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Centerspace by 295.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 107,820 shares of the company's stock worth $7,598,000 after purchasing an additional 80,566 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Centerspace by 6.4% during the 3rd quarter. Wellington Management Group LLP now owns 1,019,353 shares of the company's stock worth $71,834,000 after purchasing an additional 61,394 shares during the period. JPMorgan Chase & Co. increased its holdings 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 purchasing an additional 39,380 shares in the last quarter. Finally, Teacher Retirement System of Texas acquired a new position in shares of Centerspace in the 4th quarter valued at $1,488,000. Hedge funds and other institutional investors own 79.00% of the company's stock.
Centerspace Price Performance
Shares of Centerspace stock traded up $0.34 during mid-day trading on Friday, reaching $57.26. 89,414 shares of the stock traded hands, compared to its average volume of 110,619. The stock has a market capitalization of $957.79 million, a PE ratio of -45.09 and a beta of 0.79. The business has a 50-day moving average of $62.81 and a 200 day moving average of $66.25. Centerspace has a fifty-two week low of $54.13 and a fifty-two week high of $76.16. The company has a quick ratio of 0.05, a current ratio of 0.04 and a debt-to-equity ratio of 0.74.
Centerspace (NYSE:CSR - Get Free Report) last posted its quarterly earnings data 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 return on equity of 1.34% and a negative net margin of 4.34%. The firm had revenue of $66.41 million during the quarter, compared to the consensus estimate of $65.96 million. On average, analysts predict that Centerspace will post 4.94 EPS for the current year.
Centerspace Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 8th. Investors of record on Friday, March 28th were given a dividend of $0.77 per share. The ex-dividend date was Friday, March 28th. This is a positive change from Centerspace's previous quarterly dividend of $0.75. This represents a $3.08 dividend on an annualized basis and a yield of 5.38%. Centerspace's payout ratio is presently -242.52%.
Analyst Ratings Changes
Several analysts recently commented on the stock. 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. 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. Wedbush assumed coverage on Centerspace in a report on Tuesday, December 17th. They issued a "neutral" rating and a $72.00 price target for the company. Wells Fargo & Company assumed coverage on Centerspace in a report on Wednesday, March 19th. They issued an "equal weight" rating and a $68.00 price objective on the stock. Finally, UBS Group began coverage on Centerspace in a research report on Monday. They issued a "neutral" rating and a $67.00 price objective for the company. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $73.30.
Check Out Our Latest Stock Analysis on CSR
Centerspace Company Profile
(
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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