Raymond James Financial Inc. Purchases New Holdings in Centerspace (NYSE:CSR)

Raymond James Financial Inc. acquired a new position in Centerspace (NYSE:CSR) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 6,301 shares of the company’s stock, valued at approximately $417,000.

A number of other hedge funds also recently modified their holdings of CSR. Vanguard Group Inc. raised its stake in shares of Centerspace by 8.2% in the fourth 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. Barclays PLC raised its stake in shares of Centerspace by 1,553.4% in the 3rd quarter. Barclays PLC now owns 102,859 shares of the company’s stock valued at $7,249,000 after buying an additional 96,638 shares in the last quarter. Norges Bank bought a new position in shares of Centerspace during the 4th quarter worth about $4,768,000. JPMorgan Chase & Co. boosted its position in shares of Centerspace by 25.6% during the 3rd 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 in the last quarter. Finally, Geode Capital Management LLC increased its stake in Centerspace by 7.3% in the fourth quarter. Geode Capital Management LLC now owns 415,680 shares of the company’s stock valued at $27,503,000 after acquiring an additional 28,163 shares during the period. Institutional investors own 79.00% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on CSR. Royal Bank of Canada raised their price target on shares of Centerspace from $71.00 to $72.00 and gave the stock an “outperform” rating in a research note on Monday, May 5th. BMO Capital Markets upgraded Centerspace from a “market perform” rating to an “outperform” rating and set a $77.00 target price for the company in a research report on Friday, April 4th. Raymond James upgraded Centerspace from a “market perform” rating to an “outperform” rating and set a $66.00 price target on the stock in a research report on Monday, April 21st. UBS Group initiated coverage on Centerspace in a report on Monday, April 7th. They set a “neutral” rating and a $67.00 price objective for the company. Finally, Piper Sandler reduced their target price on shares of Centerspace from $75.00 to $68.00 and set a “neutral” rating on the stock in a research note on Monday, May 5th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Centerspace has an average rating of “Moderate Buy” and a consensus price target of $71.22.

Centerspace Stock Performance

Shares of NYSE:CSR opened at $61.19 on Friday. The business has a fifty day moving average of $61.28 and a 200-day moving average of $64.77. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.05 and a current ratio of 0.04. Centerspace has a twelve month low of $54.13 and a twelve month high of $76.16. The firm has a market cap of $1.02 billion, a PE ratio of -48.18 and a beta of 0.77.

Centerspace (NYSE:CSR) last posted its quarterly earnings data on Thursday, May 1st. The company reported $1.21 earnings per share for the quarter, meeting the consensus estimate of $1.21. Centerspace had a negative net margin of 4.34% and a negative return on equity of 1.34%. The firm had revenue of $67.09 million during the quarter, compared to analysts’ expectations of $66.70 million. On average, equities research analysts predict that Centerspace will post 4.94 EPS for the current fiscal year.

Centerspace Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 8th. Shareholders of record on Friday, March 28th were given a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 5.03%. This is a positive change from Centerspace’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Friday, March 28th. Centerspace’s dividend payout ratio (DPR) is presently -275.00%.

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.