Geode Capital Management LLC Buys 28,163 Shares of Centerspace (NYSE:CSR)

Geode Capital Management LLC grew its stake in shares of Centerspace (NYSE:CSR - Free Report) by 7.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 415,680 shares of the company's stock after purchasing an additional 28,163 shares during the quarter. Geode Capital Management LLC owned approximately 2.51% of Centerspace worth $27,503,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. JPMorgan Chase & Co. increased its stake in shares of Centerspace by 25.6% during the third quarter. JPMorgan Chase & Co. now owns 193,242 shares of the company's stock valued at $13,618,000 after acquiring an additional 39,380 shares during the period. Principal Financial Group Inc. increased its position in shares of Centerspace by 11.6% during the 4th quarter. Principal Financial Group Inc. now owns 90,753 shares of the company's stock valued at $6,003,000 after purchasing an additional 9,415 shares during the period. Intech Investment Management LLC raised its stake in shares of 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 buying an additional 4,391 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Centerspace in the fourth quarter valued at $417,000. Finally, Asset Management One Co. Ltd. boosted its stake in Centerspace by 8.5% during the fourth quarter. Asset Management One Co. Ltd. now owns 25,091 shares of the company's stock valued at $1,653,000 after buying an additional 1,975 shares in the last quarter. 79.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CSR has been the subject of a number of research analyst reports. Royal Bank of Canada upped their price target on shares of Centerspace from $72.00 to $73.00 and gave the company an "outperform" rating in a report on Thursday, February 20th. UBS Group assumed coverage on shares of Centerspace in a report on Monday, April 7th. They set a "neutral" rating and a $67.00 target price for the company. Janney Montgomery Scott raised Centerspace from a "neutral" rating to a "buy" rating and set a $72.00 price target on the stock in a report on Wednesday, January 15th. Wells Fargo & Company started coverage on Centerspace in a research note on Wednesday, March 19th. They set an "equal weight" rating and a $68.00 price objective for the company. Finally, 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 report on Friday, April 4th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $71.70.

Centerspace Stock Up 1.7 %

NYSE CSR traded up $1.02 during trading on Wednesday, reaching $61.27. 2,999 shares of the company's stock were exchanged, compared to its average volume of 92,622. The company has a current ratio of 0.04, a quick ratio of 0.05 and a debt-to-equity ratio of 0.74. Centerspace has a fifty-two week low of $54.13 and a fifty-two week high of $76.16. The company's fifty day simple moving average is $62.29 and its 200-day simple moving average is $65.63. The firm has a market capitalization of $1.02 billion, a PE ratio of -48.24 and a beta of 0.79.

Centerspace (NYSE:CSR - Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The company reported $1.21 EPS for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $65.96 million. Sell-side analysts predict that Centerspace will post 4.94 EPS for the current year.

Centerspace Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 8th. Shareholders of record on Friday, March 28th were given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 5.03%. 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 presently -242.52%.

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.