6,301 Shares in Centerspace (NYSE:CSR) Acquired by Raymond James Financial Inc.

Raymond James Financial Inc. acquired a new stake in Centerspace (NYSE:CSR) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 6,301 shares of the company’s stock, valued at approximately $417,000.

Other institutional investors have also recently made changes to their positions in the company. Wellington Management Group LLP increased its stake in shares of Centerspace by 6.4% in the third 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. State Street Corp increased its position in shares of Centerspace by 0.5% in the third quarter. State Street Corp now owns 897,749 shares of the company’s stock valued at $63,931,000 after acquiring an additional 4,263 shares during the period. Geode Capital Management LLC increased its position in shares of Centerspace by 3.1% in the third quarter. Geode Capital Management LLC now owns 387,517 shares of the company’s stock valued at $27,314,000 after acquiring an additional 11,749 shares during the period. JPMorgan Chase & Co. raised its stake in shares of 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 acquiring an additional 39,380 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Centerspace by 3.0% during the fourth quarter. Bank of New York Mellon Corp now owns 126,121 shares of the company’s stock worth $8,343,000 after purchasing an additional 3,645 shares during the period. Hedge funds and other institutional investors own 79.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CSR. Wells Fargo & Company began coverage on Centerspace in a report on Wednesday, March 19th. They set an “equal weight” rating and a $68.00 price target on the stock. 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. UBS Group initiated coverage on shares of Centerspace in a report on Monday. They issued a “neutral” rating and a $67.00 price target on the stock. Royal Bank of Canada upped their price objective on shares of Centerspace from $72.00 to $73.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. Finally, Wedbush initiated 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. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $73.30.

Centerspace Stock Down 2.6 %

Shares of Centerspace stock opened at $56.17 on Wednesday. Centerspace has a 1 year low of $55.24 and a 1 year high of $76.16. The firm has a market cap of $939.56 million, a price-to-earnings ratio of -44.23 and a beta of 0.79. The company has a 50-day moving average of $63.07 and a 200 day moving average of $66.63. 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 (NYSE:CSR) last announced its earnings results on Tuesday, February 18th. The company reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $1.36. Centerspace had a negative net margin of 4.34% and a negative return on equity of 1.34%. The business had revenue of $66.41 million during the quarter, compared to the consensus estimate of $65.96 million. As a group, sell-side analysts anticipate that Centerspace will post 4.94 earnings per share for the current fiscal year.

Centerspace Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 8th. Shareholders of record on Friday, March 28th were issued a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 5.48%. This is an increase from Centerspace’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Friday, March 28th. Centerspace’s payout ratio is -242.52%.

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.