JPMorgan Chase & Co. Has $13.62 Million Stock Position in Centerspace (NYSE:CSR)

JPMorgan Chase & Co. increased its holdings in shares of Centerspace (NYSE:CSR) by 25.6% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 193,242 shares of the company’s stock after purchasing an additional 39,380 shares during the period. JPMorgan Chase & Co. owned 1.17% of Centerspace worth $13,618,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Principal Financial Group Inc. boosted its stake in shares of Centerspace by 3.6% during the 3rd quarter. Principal Financial Group Inc. now owns 81,338 shares of the company’s stock worth $5,732,000 after acquiring an additional 2,852 shares during the period. Franklin Resources Inc. lifted its holdings in Centerspace by 11.1% during the 3rd quarter. Franklin Resources Inc. now owns 9,957 shares of the company’s stock valued at $708,000 after purchasing an additional 992 shares during the last quarter. Tidal Investments LLC acquired a new stake in Centerspace during the 3rd quarter valued at $339,000. Geode Capital Management LLC boosted its position in Centerspace by 3.1% during the third quarter. Geode Capital Management LLC now owns 387,517 shares of the company’s stock worth $27,314,000 after purchasing an additional 11,749 shares during the period. Finally, Barclays PLC increased its holdings in shares of Centerspace by 1,553.4% in the third quarter. Barclays PLC now owns 102,859 shares of the company’s stock valued at $7,249,000 after purchasing an additional 96,638 shares during the last quarter. Institutional investors and hedge funds own 79.00% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on CSR shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $76.00 target price on shares of Centerspace in a report on Wednesday, October 30th. Raymond James cut Centerspace from an “outperform” rating to a “market perform” rating in a research report on Monday, October 21st. Finally, Wedbush initiated coverage on shares of Centerspace in a report on Tuesday, December 17th. They set a “neutral” rating and a $72.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $75.33.

Centerspace Stock Performance

NYSE:CSR opened at $60.22 on Friday. Centerspace has a twelve month low of $52.26 and a twelve month high of $76.16. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.70. The stock’s 50-day simple moving average is $69.16 and its 200 day simple moving average is $70.57. The firm has a market capitalization of $997.97 million, a PE ratio of -37.40, a price-to-earnings-growth ratio of 2.04 and a beta of 0.91.

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

Centerspace Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Monday, December 30th will be given a $0.75 dividend. The ex-dividend date of this dividend is Monday, December 30th. This represents a $3.00 annualized dividend and a yield of 4.98%. Centerspace’s dividend payout ratio is presently -186.34%.

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.