Jane Street Group LLC Boosts Position in Centerspace (NYSE:CSR)

Jane Street Group LLC lifted its position in Centerspace (NYSE:CSR) by 8.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,554 shares of the company’s stock after buying an additional 1,983 shares during the quarter. Jane Street Group LLC’s holdings in Centerspace were worth $1,871,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Captrust Financial Advisors purchased a new position in Centerspace during the third quarter worth about $234,000. Intech Investment Management LLC purchased a new position in shares of Centerspace during the third quarter worth about $403,000. Charles Schwab Investment Management Inc. increased its position in shares of Centerspace by 9.5% in 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 last quarter. Millennium Management LLC raised its stake in Centerspace by 377.3% in the second quarter. Millennium Management LLC now owns 43,604 shares of the company’s stock valued at $2,949,000 after purchasing an additional 34,469 shares in the last quarter. Finally, Cerity Partners LLC bought a new stake in Centerspace during the third quarter valued at approximately $746,000. 79.00% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CSR has been the topic of a number of research analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $76.00 price target on shares of Centerspace in a report on Wednesday, October 30th. Wedbush began coverage on Centerspace in a research report on Tuesday, December 17th. They set a “neutral” rating and a $72.00 price target on the stock. Finally, Raymond James cut 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 two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $75.33.

Centerspace Price Performance

Shares of NYSE:CSR opened at $66.43 on Wednesday. The company’s fifty day moving average is $70.81 and its 200 day moving average is $70.91. 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 52 week low of $52.26 and a 52 week high of $76.16. The stock has a market cap of $1.10 billion, a PE ratio of -41.26, a PEG ratio of 2.05 and a beta of 0.89.

Centerspace (NYSE:CSR) last released its earnings results on Monday, October 28th. The company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of $1.17 by ($1.57). Centerspace had a negative net margin of 5.57% and a negative return on equity of 1.72%. The company had revenue of $65.03 million during the quarter, compared to the consensus estimate of $66.35 million. During the same period last year, the firm posted $1.20 EPS. Research analysts anticipate that Centerspace will post 4.86 earnings per share for the current year.

Centerspace Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Monday, December 30th will be paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 4.52%. The ex-dividend date is Monday, December 30th. Centerspace’s dividend payout ratio (DPR) is presently -186.34%.

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.