Swiss National Bank Purchases 2,000 Shares of Centerspace $CSR

Swiss National Bank boosted its position in Centerspace (NYSE:CSR) by 6.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,100 shares of the company’s stock after purchasing an additional 2,000 shares during the quarter. Swiss National Bank owned about 0.19% of Centerspace worth $2,078,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. New Age Alpha Advisors LLC bought a new stake in Centerspace in the 1st quarter valued at $86,000. First Trust Advisors LP bought a new stake in shares of Centerspace during the 4th quarter valued at $223,000. Graham Capital Management L.P. bought a new stake in shares of Centerspace during the 4th quarter valued at $227,000. Captrust Financial Advisors lifted its position in shares of Centerspace by 14.0% during the 4th quarter. Captrust Financial Advisors now owns 3,780 shares of the company’s stock valued at $250,000 after acquiring an additional 464 shares during the period. Finally, Arizona State Retirement System lifted its position in shares of Centerspace by 7.0% during the 1st quarter. Arizona State Retirement System now owns 4,753 shares of the company’s stock valued at $308,000 after acquiring an additional 313 shares during the period. 79.00% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Bhairav Patel bought 500 shares of the stock in a transaction on Friday, August 8th. The stock was acquired at an average price of $54.00 per share, with a total value of $27,000.00. Following the acquisition, the chief financial officer directly owned 3,733 shares in the company, valued at approximately $201,582. This trade represents a 15.47% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Anne Olson bought 750 shares of the stock in a transaction on Friday, August 8th. The stock was purchased at an average cost of $55.10 per share, with a total value of $41,325.00. Following the acquisition, the chief executive officer 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 bought a total of 1,750 shares of company stock valued at $95,325 in the last 90 days. Corporate insiders own 0.44% of the company’s stock.

Centerspace Price Performance

Shares of CSR stock opened at $58.1660 on Friday. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.97. Centerspace has a twelve month low of $52.76 and a twelve month high of $76.16. The company has a market cap of $974.86 million, a P/E ratio of -32.31 and a beta of 0.72. The business has a fifty day simple moving average of $58.40 and a 200 day simple moving average of $60.88.

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

Centerspace Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 10th. Investors 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 5.3%. The ex-dividend date was Friday, June 27th. Centerspace’s dividend payout ratio is currently -171.11%.

Analyst Ratings Changes

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

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.