Peregrine Capital Management LLC Raises Position in Centerspace (NYSE:CSR)

Peregrine Capital Management LLC lifted its position in Centerspace (NYSE:CSR) by 5.5% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 90,309 shares of the company’s stock after acquiring an additional 4,733 shares during the period. Peregrine Capital Management LLC’s holdings in Centerspace were worth $5,974,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Barclays PLC boosted its stake in Centerspace by 1,553.4% during the 3rd 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Centerspace by 295.6% during the third 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 buying 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 in the last quarter. JPMorgan Chase & Co. raised its position 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 last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Centerspace by 9.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 275,511 shares of the company’s stock valued at $19,415,000 after acquiring an additional 23,839 shares during the period. Hedge funds and other institutional investors own 79.00% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Wedbush began coverage on shares of Centerspace in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $72.00 price target for the company. Janney Montgomery Scott upgraded shares of Centerspace from a “neutral” rating to a “buy” rating and set a $72.00 target price for the company in a research note on Wednesday, January 15th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $76.00 price target on shares of Centerspace in a research note on Wednesday, October 30th. 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, the company currently has an average rating of “Hold” and an average target price of $74.86.

Centerspace Trading Up 0.1 %

Shares of CSR stock opened at $62.42 on Wednesday. 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 company has a market cap of $1.03 billion, a price-to-earnings ratio of -38.77 and a beta of 0.90. Centerspace has a 1 year low of $54.22 and a 1 year high of $76.16. The firm has a fifty day moving average price of $63.42 and a 200-day moving average price of $69.12.

Centerspace (NYSE:CSR) last released its quarterly earnings results on Tuesday, February 18th. The company reported $1.21 earnings per share (EPS) 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%. As a group, equities analysts predict that Centerspace will post 4.85 earnings per share for the current year.

Centerspace Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Monday, December 30th were paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 4.81%. The ex-dividend date was Monday, December 30th. Centerspace’s payout ratio is -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.