Asset Management One Co. Ltd. Purchases 1,975 Shares of Centerspace (NYSE:CSR)

Asset Management One Co. Ltd. raised its position in shares of Centerspace (NYSE:CSR) by 8.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,091 shares of the company’s stock after acquiring an additional 1,975 shares during the period. Asset Management One Co. Ltd. owned approximately 0.15% of Centerspace worth $1,653,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in CSR. Barclays PLC lifted its stake in Centerspace by 1,553.4% in the third quarter. Barclays PLC now owns 102,859 shares of the company’s stock worth $7,249,000 after acquiring an additional 96,638 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Centerspace by 295.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 107,820 shares of the company’s stock valued at $7,598,000 after purchasing an additional 80,566 shares during the last quarter. Wellington Management Group LLP increased its holdings in Centerspace by 6.4% in 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. JPMorgan Chase & Co. increased its holdings in Centerspace by 25.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 193,242 shares of the company’s stock worth $13,618,000 after buying an additional 39,380 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in Centerspace by 9.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 275,511 shares of the company’s stock worth $19,415,000 after buying an additional 23,839 shares during the period. 79.00% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on CSR shares. Wedbush started coverage on shares of Centerspace in a research note on Tuesday, December 17th. They set a “neutral” rating and a $72.00 price objective on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $76.00 price objective on shares of Centerspace in a report on Wednesday, October 30th. Finally, Janney Montgomery Scott upgraded Centerspace from a “neutral” rating to a “buy” rating and set a $72.00 price target on the stock in a report on Wednesday, January 15th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Centerspace currently has a consensus rating of “Hold” and an average target price of $74.86.

Centerspace Stock Performance

NYSE CSR opened at $63.86 on Thursday. The company has a market cap of $1.06 billion, a P/E ratio of -39.66 and a beta of 0.90. 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 50-day moving average of $63.30 and a two-hundred day moving average of $69.08. Centerspace has a 1-year low of $54.22 and a 1-year high of $76.16.

Centerspace (NYSE:CSR) last released its earnings results on Tuesday, February 18th. The company reported $1.21 earnings per share for the quarter, beating the consensus estimate of ($0.15) by $1.36. Centerspace had a negative return on equity of 1.72% and a negative net margin of 5.57%. The company had revenue of $66.41 million during the quarter, compared to the consensus estimate of $65.96 million. As a group, analysts anticipate that Centerspace will post 4.85 EPS for the current year.

Centerspace Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 8th. Stockholders of record on Friday, March 28th will be given a dividend of $0.77 per share. The ex-dividend date is Friday, March 28th. 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 dividend yield of 4.82%. Centerspace’s payout ratio is currently -186.33%.

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.