By otakuyassine3@gmail.com 
Louisiana State Employees Retirement System grew its stake in shares of Centerspace (NYSE:CSR – Free Report) by 8.1% in the fourth quarter, HoldingsChannel reports. The fund owned 8,000 shares of the company’s stock after buying an additional 600 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Centerspace were worth $529,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Wellington Management Group LLP increased 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 valued at $71,834,000 after acquiring an additional 61,394 shares during the last quarter. State Street Corp grew its holdings in shares of Centerspace by 0.5% during the 3rd quarter. State Street Corp now owns 897,749 shares of the company’s stock worth $63,931,000 after purchasing an additional 4,263 shares during the period. Geode Capital Management LLC grew its holdings in shares of Centerspace by 3.1% during the 3rd 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. Charles Schwab Investment Management Inc. grew its holdings in shares of Centerspace by 9.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 275,511 shares of the company’s stock worth $19,415,000 after purchasing an additional 23,839 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in shares of Centerspace by 25.6% during the 3rd 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 during the period. Institutional investors and hedge funds own 79.00% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of analysts have recently issued reports on the company. Janney Montgomery Scott upgraded Centerspace from a “neutral” rating to a “buy” rating and set a $72.00 target price for the company in a report on Wednesday, January 15th. Wedbush assumed coverage on Centerspace in a report on Tuesday, December 17th. They set a “neutral” rating and a $72.00 target price for the company. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $76.00 target price on shares of Centerspace in a report on Wednesday, October 30th. Four 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 an average rating of “Hold” and a consensus target price of $74.86.
Check Out Our Latest Report on Centerspace
Centerspace Stock Up 0.1 %
NYSE CSR opened at $62.42 on Wednesday. The stock has a market cap of $1.03 billion, a PE ratio of -38.77 and a beta of 0.90. Centerspace has a fifty-two week low of $54.22 and a fifty-two week high of $76.16. The business has a 50 day moving average price of $63.42 and a two-hundred day moving average price of $69.12. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.70.
Centerspace (NYSE:CSR – Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The company reported $1.21 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $1.36. Centerspace had a negative return on equity of 1.72% and a negative net margin of 5.57%. As a group, sell-side analysts predict that Centerspace will post 4.85 EPS for the current fiscal year.
Centerspace Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Monday, December 30th were paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 4.81%. The ex-dividend date of this dividend was Monday, December 30th. Centerspace’s dividend payout ratio (DPR) is currently -186.33%.
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.
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