Oregon Public Employees Retirement Fund Has $255,000 Position in Centerspace (NYSE:CSR)

Oregon Public Employees Retirement Fund increased its position in shares of Centerspace (NYSE:CSR) by 8.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,861 shares of the company’s stock after buying an additional 300 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Centerspace were worth $255,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. JPMorgan Chase & Co. grew its stake in shares of 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 acquiring an additional 39,380 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Centerspace by 3.1% during the third 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 last quarter. Captrust Financial Advisors acquired a new position in Centerspace during the third quarter worth $234,000. Principal Financial Group Inc. grew its position in Centerspace by 3.6% in the third 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 in the last quarter. Finally, Intech Investment Management LLC acquired a new stake in Centerspace in the 3rd quarter valued at $403,000. Institutional investors and hedge funds own 79.00% of the company’s stock.

Centerspace Stock Performance

NYSE:CSR opened at $66.30 on Monday. The stock has a 50 day simple moving average of $62.94 and a 200 day simple moving average of $68.76. The stock has a market cap of $1.11 billion, a P/E ratio of -52.21 and a beta of 0.90. Centerspace has a 1-year low of $54.50 and a 1-year high of $76.16. The company has a current ratio of 0.04, a quick ratio of 0.05 and a debt-to-equity ratio of 0.74.

Centerspace (NYSE:CSR) last posted its earnings results on Tuesday, February 18th. The company reported $1.21 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $1.36. Centerspace had a negative return on equity of 1.34% and a negative net margin of 4.34%. The company had revenue of $66.41 million during the quarter, compared to the consensus estimate of $65.96 million. Research analysts anticipate that Centerspace will post 4.94 earnings per share for the current year.

Centerspace Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 8th. Shareholders of record on Friday, March 28th will be given a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.65%. The ex-dividend date of this dividend is Friday, March 28th. This is a positive change from Centerspace’s previous quarterly dividend of $0.75. Centerspace’s dividend payout ratio is presently -242.52%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CSR. Wedbush initiated coverage on Centerspace in a report on Tuesday, December 17th. They issued a “neutral” rating and a $72.00 price objective for the company. Royal Bank of Canada raised their price target on Centerspace from $72.00 to $73.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Finally, Janney Montgomery Scott upgraded Centerspace from a “neutral” rating to a “buy” rating and set a $72.00 price objective on the stock in a research note on Wednesday, January 15th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $74.43.

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.