WealthPlan Investment Management LLC Trims Stake in Centerspace (NYSE:CSR)

WealthPlan Investment Management LLC reduced its position in shares of Centerspace (NYSE:CSR) by 4.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,193 shares of the company’s stock after selling 201 shares during the quarter. WealthPlan Investment Management LLC’s holdings in Centerspace were worth $277,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. JPMorgan Chase & Co. increased its holdings in Centerspace by 25.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 193,242 shares of the company’s stock worth $13,618,000 after purchasing an additional 39,380 shares during the period. Geode Capital Management LLC increased its holdings in Centerspace by 3.1% during the 3rd quarter. Geode Capital Management LLC now owns 387,517 shares of the company’s stock worth $27,314,000 after purchasing an additional 11,749 shares during the period. Captrust Financial Advisors purchased a new position in Centerspace during the 3rd quarter worth $234,000. Principal Financial Group Inc. increased its holdings in Centerspace by 3.6% during the 3rd quarter. Principal Financial Group Inc. now owns 81,338 shares of the company’s stock worth $5,732,000 after purchasing an additional 2,852 shares during the period. Finally, Intech Investment Management LLC purchased a new position in Centerspace during the 3rd quarter worth $403,000. 79.00% of the stock is currently owned by hedge funds and other institutional investors.

Centerspace Stock Up 0.1 %

Shares of CSR stock opened at $62.33 on Friday. Centerspace has a 1-year low of $54.22 and a 1-year high of $76.16. The stock’s fifty day moving average price is $63.72 and its 200 day moving average price is $69.24. 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 -38.71 and a beta of 0.90.

Centerspace Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Monday, December 30th were paid a dividend of $0.75 per share. The ex-dividend date of this dividend was Monday, December 30th. This represents a $3.00 annualized dividend and a yield of 4.81%. Centerspace’s dividend payout ratio (DPR) is -186.33%.

Wall Street Analysts Forecast Growth

CSR has been the topic of a number of analyst reports. Janney Montgomery Scott upgraded Centerspace from a “neutral” rating to a “buy” rating and set a $72.00 price target on the stock in a report on Wednesday, January 15th. Royal Bank of Canada reiterated an “outperform” rating and issued a $76.00 price target on shares of Centerspace in a report on Wednesday, October 30th. Wedbush initiated coverage on Centerspace in a report on Tuesday, December 17th. They issued a “neutral” rating and a $72.00 price target on the stock. Finally, Raymond James downgraded Centerspace from an “outperform” rating to a “market perform” rating in a report on Monday, October 21st. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Centerspace presently has a consensus rating of “Hold” and a consensus target price of $74.86.

Centerspace 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.