abrdn plc Purchases 153 Shares of Centerspace (NYSE:CSR)

abrdn plc lifted its position in shares of Centerspace (NYSE:CSRGet Rating) by 5.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 3,172 shares of the company’s stock after acquiring an additional 153 shares during the quarter. abrdn plc’s holdings in Centerspace were worth $313,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mutual of America Capital Management LLC grew its stake in shares of Centerspace by 10.7% during the 1st quarter. Mutual of America Capital Management LLC now owns 2,161 shares of the company’s stock worth $212,000 after acquiring an additional 209 shares during the period. SG Americas Securities LLC grew its stake in shares of Centerspace by 80.5% during the 1st quarter. SG Americas Securities LLC now owns 3,733 shares of the company’s stock worth $366,000 after acquiring an additional 1,665 shares during the period. Daiwa Securities Group Inc. grew its stake in shares of Centerspace by 6.8% during the 1st quarter. Daiwa Securities Group Inc. now owns 4,471 shares of the company’s stock worth $439,000 after acquiring an additional 283 shares during the period. Oregon Public Employees Retirement Fund grew its stake in shares of Centerspace by 5.5% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 5,730 shares of the company’s stock worth $562,000 after acquiring an additional 300 shares during the period. Finally, Maryland State Retirement & Pension System grew its stake in shares of Centerspace by 5.7% during the 1st quarter. Maryland State Retirement & Pension System now owns 6,016 shares of the company’s stock worth $590,000 after acquiring an additional 323 shares during the period. Institutional investors own 80.68% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on CSR. Royal Bank of Canada reissued a “maintains” rating on shares of Centerspace in a report on Wednesday. Compass Point set a $90.00 price objective on Centerspace in a report on Monday, June 20th. Finally, Piper Sandler dropped their price objective on Centerspace from $100.00 to $95.00 and set an “overweight” rating on the stock in a report on Wednesday, July 20th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Centerspace currently has a consensus rating of “Moderate Buy” and an average price target of $105.29.

Insider Activity at Centerspace

In other news, Director Mary J. Twinem acquired 900 shares of the firm’s stock in a transaction that occurred on Wednesday, June 1st. The shares were bought at an average cost of $82.48 per share, with a total value of $74,232.00. Following the acquisition, the director now owns 6,577 shares in the company, valued at approximately $542,470.96. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Mary J. Twinem purchased 900 shares of Centerspace stock in a transaction that occurred on Wednesday, June 1st. The shares were acquired at an average cost of $82.48 per share, for a total transaction of $74,232.00. Following the transaction, the director now directly owns 6,577 shares in the company, valued at $542,470.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Rodney Jones-Tyson purchased 595 shares of Centerspace stock in a transaction that occurred on Monday, May 16th. The shares were bought at an average price of $84.82 per share, for a total transaction of $50,467.90. Following the completion of the transaction, the director now owns 595 shares in the company, valued at $50,467.90. The disclosure for this purchase can be found here. 0.86% of the stock is currently owned by insiders.

Centerspace Stock Performance

NYSE:CSR opened at $85.65 on Thursday. The business’s 50-day moving average price is $81.55 and its two-hundred day moving average price is $89.85. Centerspace has a twelve month low of $74.99 and a twelve month high of $112.27. The stock has a market cap of $1.32 billion, a P/E ratio of -35.95, a PEG ratio of 2.81 and a beta of 0.91. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.61.

Centerspace (NYSE:CSRGet Rating) last released its quarterly earnings results on Monday, August 1st. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.63) by $0.33. Centerspace had a negative return on equity of 3.15% and a negative net margin of 12.20%. During the same period in the previous year, the company posted $0.95 EPS. As a group, equities analysts predict that Centerspace will post 4.34 EPS for the current fiscal year.

Centerspace Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 11th. Investors of record on Thursday, June 30th were issued a dividend of $0.73 per share. The ex-dividend date of this dividend was Wednesday, June 29th. This represents a $2.92 dividend on an annualized basis and a dividend yield of 3.41%. Centerspace’s dividend payout ratio is -121.67%.

About Centerspace

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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 June 30, 2021, Centerspace owned 62 apartment communities consisting of 11,579 apartment homes located in Colorado, Minnesota, Montana, Nebraska, North Dakota, and South Dakota.

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Institutional Ownership by Quarter for Centerspace (NYSE:CSR)

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