Vanguard Group Inc. Grows Position in Centerspace $CSR

Vanguard Group Inc. increased its position in shares of Centerspace (NYSE:CSR) by 0.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,603,360 shares of the company’s stock after purchasing an additional 8,994 shares during the period. Vanguard Group Inc. owned approximately 15.56% of Centerspace worth $168,568,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Sterling Capital Management LLC boosted its position in Centerspace by 903.8% in the 4th quarter. Sterling Capital Management LLC now owns 522 shares of the company’s stock valued at $35,000 after buying an additional 470 shares during the period. New Age Alpha Advisors LLC purchased a new stake in Centerspace in the 1st quarter valued at about $86,000. Summit Investment Advisors Inc. boosted its position in Centerspace by 15.2% in the 4th quarter. Summit Investment Advisors Inc. now owns 1,732 shares of the company’s stock valued at $115,000 after buying an additional 229 shares during the period. First Trust Advisors LP purchased a new stake in Centerspace in the 4th quarter valued at about $223,000. Finally, Graham Capital Management L.P. purchased a new stake in Centerspace in the 4th quarter valued at about $227,000. 79.00% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Centerspace

In other Centerspace news, Director John A. Schissel acquired 500 shares of the stock in a transaction dated Friday, August 8th. The stock was purchased at an average price of $54.00 per share, with a total value of $27,000.00. Following the transaction, the director directly owned 14,398 shares of the company’s stock, valued at $777,492. This trade represents a 3.60% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Anne Olson acquired 750 shares of the stock in a transaction dated Friday, August 8th. The stock was acquired at an average cost of $55.10 per share, with a total value of $41,325.00. Following the transaction, the chief executive officer directly owned 19,496 shares in the company, valued at approximately $1,074,229.60. This represents a 4.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 1,750 shares of company stock valued at $95,325 in the last quarter. 0.44% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Royal Bank Of Canada boosted their price objective on shares of Centerspace from $71.00 to $72.00 and gave the company an “outperform” rating in a research report on Monday, May 5th. Piper Sandler cut their target price on shares of Centerspace from $75.00 to $68.00 and set a “neutral” rating on the stock in a research report on Monday, May 5th. Wall Street Zen downgraded shares of Centerspace from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. UBS Group cut their target price on shares of Centerspace from $67.00 to $60.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 15th. Finally, Raymond James Financial raised shares of Centerspace from an “outperform” rating to a “strong-buy” rating and raised their target price for the company from $66.00 to $69.00 in a research report on Thursday, May 15th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Centerspace presently has a consensus rating of “Moderate Buy” and an average target price of $69.75.

Centerspace Trading Up 0.2%

NYSE CSR opened at $56.57 on Thursday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.05 and a current ratio of 0.05. The company has a market capitalization of $948.11 million, a price-to-earnings ratio of -31.43 and a beta of 0.72. The company’s 50-day simple moving average is $58.66 and its two-hundred day simple moving average is $60.94. Centerspace has a one year low of $52.76 and a one year high of $76.16.

Centerspace (NYSE:CSR) last released its quarterly earnings results on Monday, August 4th. The company reported $1.28 EPS for the quarter, beating the consensus estimate of $1.26 by $0.02. The business had revenue of $68.55 million during the quarter, compared to analyst estimates of $67.89 million. Centerspace had a negative net margin of 9.13% and a negative return on equity of 2.81%. Centerspace has set its FY 2025 guidance at 4.880-5.000 EPS. Equities analysts forecast that Centerspace will post 4.94 EPS for the current fiscal year.

Centerspace Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 10th. Shareholders of record on Friday, June 27th were given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 5.4%. The ex-dividend date of this dividend was Friday, June 27th. Centerspace’s dividend payout ratio is presently -171.11%.

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.