Northern Trust Corp Increases Stake in Centerspace (NYSE:CSR)

Northern Trust Corp grew its stake in shares of Centerspace (NYSE:CSR - Free Report) by 28.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 230,816 shares of the company's stock after acquiring an additional 51,259 shares during the period. Northern Trust Corp owned about 1.39% of Centerspace worth $15,268,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Centerspace by 8.2% during the 4th quarter. Vanguard Group Inc. now owns 2,594,366 shares of the company's stock valued at $171,617,000 after acquiring an additional 195,629 shares in the last quarter. Barclays PLC raised its stake 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. Norges Bank bought a new position in Centerspace in the fourth quarter worth about $4,768,000. JPMorgan Chase & Co. boosted its stake in Centerspace by 17.7% in the fourth quarter. JPMorgan Chase & Co. now owns 227,399 shares of the company's stock valued at $15,042,000 after acquiring an additional 34,157 shares during the period. Finally, Geode Capital Management LLC boosted its stake in Centerspace by 7.3% in the fourth quarter. Geode Capital Management LLC now owns 415,680 shares of the company's stock valued at $27,503,000 after acquiring an additional 28,163 shares during the period. Institutional investors own 79.00% of the company's stock.

Centerspace Stock Down 0.3%

Shares of CSR traded down $0.22 during midday trading on Tuesday, hitting $63.79. The stock had a trading volume of 841 shares, compared to its average volume of 110,722. Centerspace has a twelve month low of $54.13 and a twelve month high of $76.16. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of -50.22 and a beta of 0.77. 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 company has a 50 day simple moving average of $60.93 and a two-hundred day simple moving average of $64.36.

Centerspace (NYSE:CSR - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $1.21 earnings per share for the quarter, hitting analysts' consensus estimates of $1.21. The company had revenue of $67.09 million during the quarter, compared to the consensus estimate of $66.70 million. Centerspace had a negative net margin of 4.34% and a negative return on equity of 1.34%. On average, analysts anticipate that Centerspace will post 4.94 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently commented on CSR. Raymond James upgraded Centerspace from an "outperform" rating to a "strong-buy" rating and raised their target price for the company from $66.00 to $69.00 in a research report on Thursday, May 15th. Piper Sandler cut their price objective on Centerspace from $75.00 to $68.00 and set a "neutral" rating for the company in a report on Monday, May 5th. Royal Bank of Canada boosted their price target on Centerspace from $71.00 to $72.00 and gave the company an "outperform" rating in a research note on Monday, May 5th. UBS Group began coverage on Centerspace in a research note on Monday, April 7th. They issued a "neutral" rating and a $67.00 price objective on the stock. Finally, BMO Capital Markets raised shares of Centerspace from a "market perform" rating to an "outperform" rating and set a $77.00 target price on the stock in a research note on Friday, April 4th. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $71.56.

Centerspace Company 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.