Centerspace (NYSE:CSR) Shares Acquired by Swiss National Bank

Swiss National Bank grew its position in shares of Centerspace (NYSE:CSR) by 3.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 30,100 shares of the company’s stock after buying an additional 900 shares during the period. Swiss National Bank’s holdings in Centerspace were worth $1,991,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in CSR. Wellington Management Group LLP raised its stake in shares of Centerspace by 6.4% during the 3rd quarter. Wellington Management Group LLP now owns 1,019,353 shares of the company’s stock worth $71,834,000 after buying an additional 61,394 shares during the period. State Street Corp raised its position in Centerspace by 0.5% during the third quarter. State Street Corp now owns 897,749 shares of the company’s stock worth $63,931,000 after acquiring an additional 4,263 shares during the period. Geode Capital Management LLC lifted its holdings in Centerspace by 3.1% during the third quarter. Geode Capital Management LLC now owns 387,517 shares of the company’s stock valued at $27,314,000 after purchasing an additional 11,749 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Centerspace by 9.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 275,511 shares of the company’s stock valued at $19,415,000 after purchasing an additional 23,839 shares during the period. Finally, 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 worth $13,618,000 after purchasing an additional 39,380 shares in the last quarter. 79.00% of the stock is currently owned by institutional investors and hedge funds.

Centerspace Price Performance

NYSE:CSR opened at $63.72 on Friday. Centerspace has a 52 week low of $54.90 and a 52 week high of $76.16. The stock’s fifty day moving average is $63.18 and its two-hundred day moving average is $67.41. The company has a market capitalization of $1.07 billion, a P/E ratio of -50.17 and a beta of 0.91. 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) last issued its quarterly earnings data on Tuesday, February 18th. The company reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $1.36. The firm had revenue of $66.41 million for the quarter, compared to analyst estimates of $65.96 million. Centerspace had a negative net margin of 4.34% and a negative return on equity of 1.34%. Equities analysts expect that Centerspace will post 4.94 EPS for the current year.

Centerspace Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 8th. Shareholders of record on Friday, March 28th will be paid a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 4.83%. This is a boost from Centerspace’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Friday, March 28th. Centerspace’s dividend payout ratio is -242.52%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CSR. 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. Royal Bank of Canada raised their price objective on Centerspace from $72.00 to $73.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Wedbush started coverage on shares of Centerspace in a report on Tuesday, December 17th. They set a “neutral” rating and a $72.00 target price for the company. Finally, Wells Fargo & Company initiated coverage on shares of Centerspace in a research note on Wednesday, March 19th. They issued an “equal weight” rating and a $68.00 price target on the stock. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $73.63.

About Centerspace

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.