JPMorgan Chase & Co. Has $13.62 Million Position in Centerspace (NYSE:CSR)

JPMorgan Chase & Co. lifted its stake in shares of Centerspace (NYSE:CSR) by 25.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 193,242 shares of the company’s stock after acquiring an additional 39,380 shares during the quarter. JPMorgan Chase & Co.’s holdings in Centerspace were worth $13,618,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Geode Capital Management LLC boosted its stake in shares of Centerspace by 3.1% in the 3rd quarter. Geode Capital Management LLC now owns 387,517 shares of the company’s stock valued at $27,314,000 after purchasing an additional 11,749 shares during the last quarter. Captrust Financial Advisors bought a new position in shares of Centerspace in the 3rd quarter worth about $234,000. Principal Financial Group Inc. lifted its stake in shares of Centerspace by 3.6% in the 3rd quarter. Principal Financial Group Inc. now owns 81,338 shares of the company’s stock valued at $5,732,000 after purchasing an additional 2,852 shares during the period. Intech Investment Management LLC bought a new stake in shares of Centerspace during the 3rd quarter valued at about $403,000. Finally, Charles Schwab Investment Management Inc. grew its stake 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 purchasing an additional 23,839 shares during the period. 79.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CSR has been the subject of several recent analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $76.00 price objective on shares of Centerspace in a research report on Wednesday, October 30th. Wedbush assumed coverage on shares of Centerspace in a report on Tuesday, December 17th. They set a “neutral” rating and a $72.00 price objective on the stock. Finally, Raymond James downgraded Centerspace from an “outperform” rating to a “market perform” rating in a research note on Monday, October 21st. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Centerspace currently has a consensus rating of “Hold” and an average price target of $75.33.

Centerspace Stock Down 2.0 %

CSR stock opened at $60.22 on Friday. The firm has a market capitalization of $997.97 million, a PE ratio of -37.40, a P/E/G ratio of 2.04 and a beta of 0.91. 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 has a twelve month low of $52.26 and a twelve month high of $76.16. The stock’s 50 day moving average is $69.16 and its 200-day moving average is $70.57.

Centerspace (NYSE:CSR) last posted its quarterly earnings data on Monday, October 28th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.17 by ($1.57). Centerspace had a negative return on equity of 1.72% and a negative net margin of 5.57%. The firm had revenue of $65.03 million for the quarter, compared to analysts’ expectations of $66.35 million. During the same period in the prior year, the firm earned $1.20 earnings per share. Sell-side analysts expect that Centerspace will post 4.86 EPS for the current fiscal year.

Centerspace Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Monday, December 30th will be paid a $0.75 dividend. The ex-dividend date of this dividend is Monday, December 30th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 4.98%. Centerspace’s payout ratio is presently -186.34%.

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.