Cambridge Investment Research Advisors Inc. grew its stake in shares of Centerspace (NYSE:CSR - Free Report) by 21.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,322 shares of the company's stock after purchasing an additional 4,369 shares during the period. Cambridge Investment Research Advisors Inc. owned approximately 0.15% of Centerspace worth $1,575,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake 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 purchasing an additional 195,629 shares in the last quarter. Silvercrest Asset Management Group LLC boosted its stake in shares of Centerspace by 6.9% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 834,251 shares of the company's stock valued at $55,186,000 after purchasing an additional 54,204 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Centerspace by 7.3% during the 4th quarter. Geode Capital Management LLC now owns 415,680 shares of the company's stock valued at $27,503,000 after purchasing an additional 28,163 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Centerspace by 28.5% during the 4th quarter. Northern Trust Corp now owns 230,816 shares of the company's stock valued at $15,268,000 after purchasing an additional 51,259 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Centerspace by 17.7% during the 4th quarter. JPMorgan Chase & Co. now owns 227,399 shares of the company's stock valued at $15,042,000 after purchasing an additional 34,157 shares in the last quarter. Institutional investors own 79.00% of the company's stock.
Centerspace Stock Up 0.3%
Centerspace stock traded up $0.17 during trading hours on Friday, hitting $61.09. The stock had a trading volume of 33,958 shares, compared to its average volume of 114,747. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $1.02 billion, a P/E ratio of -54.54 and a beta of 0.72. Centerspace has a 12-month low of $54.13 and a 12-month high of $76.16. The stock's 50-day moving average price is $62.10 and its 200-day moving average price is $62.29.
Centerspace (NYSE:CSR - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $1.21 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.21. The business had revenue of $67.09 million during the quarter, compared to analysts' expectations of $66.70 million. Centerspace had a negative net margin of 4.23% and a negative return on equity of 1.30%. Equities research analysts anticipate that Centerspace will post 4.94 EPS for the current fiscal year.
Centerspace Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Friday, June 27th will be issued a dividend of $0.77 per share. The ex-dividend date of this dividend is Friday, June 27th. This represents a $3.08 annualized dividend and a dividend yield of 5.04%. Centerspace's payout ratio is -275.00%.
Wall Street Analysts Forecast Growth
A number of research analysts recently issued reports on the stock. UBS Group assumed coverage on shares of Centerspace in a research report on Monday, April 7th. They set a "neutral" rating and a $67.00 price target for the company. Piper Sandler lowered their price target on shares of Centerspace from $75.00 to $68.00 and set a "neutral" rating for the company in a research report on Monday, May 5th. Raymond James Financial raised shares of Centerspace from an "outperform" rating to a "strong-buy" rating and lifted their price target for the company from $66.00 to $69.00 in a research report on Thursday, May 15th. 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 research report on Friday, April 4th. Finally, Wells Fargo & Company assumed coverage on shares of Centerspace in a research report on Wednesday, March 19th. They set an "equal weight" rating and a $68.00 price target for the company. Four research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $71.56.
Get Our Latest Analysis on Centerspace
Centerspace 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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