Intech Investment Management LLC Purchases 4,391 Shares of Centerspace (NYSE:CSR)

Intech Investment Management LLC lifted its holdings in Centerspace (NYSE:CSR) by 76.8% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 10,108 shares of the company’s stock after purchasing an additional 4,391 shares during the period. Intech Investment Management LLC owned about 0.06% of Centerspace worth $669,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Barclays PLC increased its holdings in Centerspace by 1,553.4% during the third quarter. Barclays PLC now owns 102,859 shares of the company’s stock valued at $7,249,000 after buying an additional 96,638 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake 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 worth $7,598,000 after purchasing an additional 80,566 shares in the last quarter. Wellington Management Group LLP raised 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 purchasing an additional 61,394 shares during the period. JPMorgan Chase & Co. lifted its position in Centerspace by 25.6% during the third quarter. JPMorgan Chase & Co. now owns 193,242 shares of the company’s stock valued at $13,618,000 after purchasing an additional 39,380 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Centerspace by 9.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 275,511 shares of the company’s stock valued at $19,415,000 after purchasing 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

Several research analysts have recently commented on the company. Wells Fargo & Company began coverage on Centerspace in a research note on Wednesday, March 19th. They issued an “equal weight” rating and a $68.00 price objective on the stock. Wedbush assumed coverage on shares of Centerspace in a research note on Tuesday, December 17th. They set a “neutral” rating and a $72.00 target price on the stock. Janney Montgomery Scott upgraded shares of Centerspace from a “neutral” rating to a “buy” rating and set a $72.00 price target for the company in a research report on Wednesday, January 15th. Finally, Royal Bank of Canada increased their price objective on shares of Centerspace from $72.00 to $73.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $73.63.

Centerspace Trading Down 0.9 %

Shares of CSR opened at $63.63 on Monday. The firm has a market cap of $1.06 billion, a P/E ratio of -50.10 and a beta of 0.91. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.04 and a quick ratio of 0.05. Centerspace has a 1 year low of $54.90 and a 1 year high of $76.16. The company has a 50 day simple moving average of $62.86 and a two-hundred day simple moving average of $67.68.

Centerspace (NYSE:CSR) last posted 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. The company had revenue of $66.41 million during the quarter, compared to analysts’ expectations of $65.96 million. Centerspace had a negative net margin of 4.34% and a negative return on equity of 1.34%. On average, equities analysts expect that Centerspace will post 4.94 earnings per share for the current fiscal year.

Centerspace Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 8th. Stockholders of record on Friday, March 28th will be issued a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 4.84%. This is a boost from Centerspace’s previous quarterly dividend of $0.75. The ex-dividend date is Friday, March 28th. Centerspace’s payout ratio is -242.52%.

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.