Centerspace (NYSE:CSR) Shares Purchased by Bank of America Corp DE

Bank of America Corp DE raised its position in shares of Centerspace (NYSE:CSR - Free Report) by 24.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 29,488 shares of the company's stock after purchasing an additional 5,702 shares during the quarter. Bank of America Corp DE owned 0.18% of Centerspace worth $1,951,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Principal Financial Group Inc. boosted its stake in shares of Centerspace by 11.6% in the fourth quarter. Principal Financial Group Inc. now owns 90,753 shares of the company's stock worth $6,003,000 after buying an additional 9,415 shares during the last quarter. Intech Investment Management LLC raised its holdings in Centerspace by 76.8% in the 4th quarter. Intech Investment Management LLC now owns 10,108 shares of the company's stock worth $669,000 after purchasing an additional 4,391 shares during the period. Raymond James Financial Inc. acquired a new position in Centerspace in the 4th quarter worth about $417,000. Geode Capital Management LLC raised its holdings in Centerspace by 7.3% in the 4th quarter. Geode Capital Management LLC now owns 415,680 shares of the company's stock worth $27,503,000 after purchasing an additional 28,163 shares during the period. Finally, Asset Management One Co. Ltd. raised its holdings in Centerspace by 8.5% in the 4th quarter. Asset Management One Co. Ltd. now owns 25,091 shares of the company's stock worth $1,653,000 after purchasing an additional 1,975 shares during the period. Hedge funds and other institutional investors own 79.00% of the company's stock.

Centerspace Price Performance

Shares of Centerspace stock traded up $0.14 during mid-day trading on Friday, reaching $63.80. 68,785 shares of the stock traded hands, compared to its average volume of 113,927. The business has a 50-day moving average of $60.66 and a 200 day moving average of $63.56. Centerspace has a fifty-two week low of $54.13 and a fifty-two week high of $76.16. The stock has a market capitalization of $1.07 billion, a PE ratio of -50.23 and a beta of 0.75. 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 announced its earnings results on Thursday, May 1st. The company reported $1.21 EPS for the quarter, meeting analysts' consensus estimates of $1.21. Centerspace had a negative return on equity of 1.34% and a negative net margin of 4.34%. The business had revenue of $67.09 million during the quarter, compared to analysts' expectations of $66.70 million. On average, analysts predict that Centerspace will post 4.94 EPS for the current year.

Centerspace Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Friday, June 27th will be issued a $0.77 dividend. The ex-dividend date of this dividend is Friday, June 27th. This represents a $3.08 annualized dividend and a dividend yield of 4.83%. Centerspace's dividend payout ratio is presently -275.00%.

Analyst Ratings Changes

A number of research firms recently weighed in on CSR. Royal Bank of Canada upped their price target on Centerspace from $71.00 to $72.00 and gave the stock an "outperform" rating in a report on Monday, May 5th. Piper Sandler reduced their price target on Centerspace from $75.00 to $68.00 and set a "neutral" rating for the company in a report on Monday, May 5th. BMO Capital Markets raised 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. Raymond James raised Centerspace from an "outperform" rating to a "strong-buy" rating and upped their price target for the stock from $66.00 to $69.00 in a report on Thursday, May 15th. Finally, 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 target for the company. Four investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $71.56.

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.