Centerspace (NYSE:CSR) Shares Bought by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Centerspace (NYSE:CSR) by 50.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,882 shares of the company’s stock after acquiring an additional 2,996 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned approximately 0.05% of Centerspace worth $588,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wellington Management Group LLP raised its stake in Centerspace by 6.4% in the 3rd quarter. Wellington Management Group LLP now owns 1,019,353 shares of the company’s stock valued at $71,834,000 after purchasing an additional 61,394 shares during the last quarter. State Street Corp raised 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 buying an additional 4,263 shares during the last quarter. Geode Capital Management LLC lifted its stake 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 worth $27,314,000 after buying an additional 11,749 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Centerspace by 9.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 275,511 shares of the company’s stock worth $19,415,000 after acquiring an additional 23,839 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Centerspace by 25.6% during the 3rd 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 in the last quarter. Hedge funds and other institutional investors own 79.00% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Wells Fargo & Company started coverage on shares of Centerspace in a research note on Wednesday, March 19th. They issued an “equal weight” rating and a $68.00 target price on the stock. Wedbush began coverage on Centerspace in a research note on Tuesday, December 17th. They set a “neutral” rating and a $72.00 price objective 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. Finally, Royal Bank of Canada lifted their price target on Centerspace from $72.00 to $73.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Centerspace presently has an average rating of “Hold” and an average target price of $73.63.

Centerspace Price Performance

NYSE:CSR opened at $64.27 on Thursday. Centerspace has a 52 week low of $54.90 and a 52 week high of $76.16. The stock’s fifty day moving average is $63.06 and its two-hundred day moving average is $67.51. The company has a market capitalization of $1.08 billion, a P/E ratio of -50.61 and a beta of 0.91. The company has a quick ratio of 0.05, a current ratio of 0.04 and a debt-to-equity ratio of 0.74.

Centerspace (NYSE:CSR) last issued its quarterly earnings data 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. The firm had revenue of $66.41 million for the quarter, compared to analyst estimates of $65.96 million. Centerspace had a negative net margin of 4.34% and a negative return on equity of 1.34%. Equities analysts expect that Centerspace will post 4.94 EPS for the current year.

Centerspace Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 8th. Investors of record on Friday, March 28th will be given a dividend of $0.77 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.79%. This is a boost from Centerspace’s previous quarterly dividend of $0.75. Centerspace’s dividend payout ratio (DPR) is presently -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.