JPMorgan Chase & Co. Purchases 34,157 Shares of Centerspace (NYSE:CSR)

JPMorgan Chase & Co. increased its stake in shares of Centerspace (NYSE:CSR - Free Report) by 17.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 227,399 shares of the company's stock after purchasing an additional 34,157 shares during the period. JPMorgan Chase & Co. owned approximately 1.37% of Centerspace worth $15,042,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its stake in Centerspace by 3.1% during the 3rd quarter. Geode Capital Management LLC now owns 387,517 shares of the company's stock valued at $27,314,000 after buying an additional 11,749 shares during the last quarter. Principal Financial Group Inc. grew its holdings 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 acquiring an additional 9,415 shares during the period. Captrust Financial Advisors purchased a new stake in Centerspace during the third quarter valued at $234,000. Intech Investment Management LLC lifted its holdings in Centerspace by 76.8% in the fourth quarter. Intech Investment Management LLC now owns 10,108 shares of the company's stock valued at $669,000 after acquiring an additional 4,391 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in Centerspace in the fourth quarter worth about $417,000. Institutional investors own 79.00% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on CSR shares. Wells Fargo & Company began 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. Royal Bank of Canada upped their target price on shares of Centerspace from $72.00 to $73.00 and gave the company an "outperform" rating in a report on Thursday, February 20th. BMO Capital Markets upgraded shares of Centerspace from a "market perform" rating to an "outperform" rating and set a $77.00 price target on the stock in a research note on Friday, April 4th. UBS Group started coverage on Centerspace in a research note on Monday, April 7th. They issued a "neutral" rating and a $67.00 price objective for the company. Finally, Janney Montgomery Scott upgraded Centerspace from a "neutral" rating to a "buy" rating and set a $72.00 target price on the stock in a research report on Wednesday, January 15th. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $73.30.

Centerspace Price Performance

Shares of NYSE CSR traded up $0.58 during mid-day trading on Thursday, reaching $58.13. The company's stock had a trading volume of 14,422 shares, compared to its average volume of 89,909. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.04 and a quick ratio of 0.05. Centerspace has a 52 week low of $54.13 and a 52 week high of $76.16. The stock has a fifty day moving average of $62.54 and a two-hundred day moving average of $65.99. The firm has a market capitalization of $972.34 million, a PE ratio of -45.77 and a beta of 0.79.

Centerspace (NYSE:CSR - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The company reported $1.21 earnings per share for the quarter, topping 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 business had revenue of $66.41 million during the quarter, compared to the consensus estimate of $65.96 million. As a group, sell-side analysts anticipate that Centerspace will post 4.94 EPS for the current fiscal year.

Centerspace Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 8th. Shareholders of record on Friday, March 28th were issued a $0.77 dividend. This is an increase from Centerspace's previous quarterly dividend of $0.75. This represents a $3.08 dividend on an annualized basis and a yield of 5.30%. The ex-dividend date of this dividend was Friday, March 28th. Centerspace's payout ratio is currently -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.