Charles Schwab Investment Management Inc. Purchases 23,839 Shares of Centerspace (NYSE:CSR)

Charles Schwab Investment Management Inc. increased its holdings in shares of Centerspace (NYSE:CSR) by 9.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 275,511 shares of the company’s stock after buying an additional 23,839 shares during the period. Charles Schwab Investment Management Inc. owned 1.66% of Centerspace worth $19,415,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Price T Rowe Associates Inc. MD grew its stake in shares of Centerspace by 5.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,191 shares of the company’s stock worth $697,000 after purchasing an additional 652 shares during the period. Millennium Management LLC grew its position in shares of Centerspace by 377.3% during the 2nd quarter. Millennium Management LLC now owns 43,604 shares of the company’s stock worth $2,949,000 after buying an additional 34,469 shares during the period. Intech Investment Management LLC bought a new stake in shares of Centerspace in the 3rd quarter valued at about $403,000. Principal Financial Group Inc. raised its holdings in Centerspace by 3.6% in the third quarter. Principal Financial Group Inc. now owns 81,338 shares of the company’s stock worth $5,732,000 after purchasing an additional 2,852 shares during the period. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Centerspace by 3.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,736 shares of the company’s stock valued at $388,000 after buying an additional 171 shares during the period. 79.00% of the stock is owned by institutional investors.

Centerspace Trading Down 0.3 %

Shares of NYSE:CSR opened at $70.00 on Friday. The company’s 50-day moving average price is $71.32 and its two-hundred day moving average price is $70.82. Centerspace has a one year low of $52.26 and a one year high of $76.16. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.05 and a quick ratio of 0.05. The stock has a market capitalization of $1.16 billion, a PE ratio of -43.62, a price-to-earnings-growth ratio of 2.09 and a beta of 0.89.

Centerspace (NYSE:CSR) last announced its quarterly earnings data on Monday, October 28th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.17 by ($1.57). Centerspace had a negative return on equity of 1.72% and a negative net margin of 5.57%. The company had revenue of $65.03 million for the quarter, compared to the consensus estimate of $66.35 million. During the same quarter in the prior year, the company earned $1.20 EPS. On average, equities analysts forecast that Centerspace will post 4.86 EPS for the current fiscal year.

Centerspace Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Monday, December 30th will be issued a $0.75 dividend. The ex-dividend date is Monday, December 30th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 4.29%. Centerspace’s payout ratio is -186.34%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Raymond James lowered Centerspace from an “outperform” rating to a “market perform” rating in a research report on Monday, October 21st. BTIG Research raised their price objective on shares of Centerspace from $69.00 to $79.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $76.00 price objective on shares of Centerspace in a research report on Wednesday, October 30th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $76.00.

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.