Corebridge Financial Inc. Sells 170 Shares of Centerspace $CSR

Corebridge Financial Inc. trimmed its stake in shares of Centerspace (NYSE:CSR) by 1.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,643 shares of the company’s stock after selling 170 shares during the quarter. Corebridge Financial Inc. owned approximately 0.05% of Centerspace worth $560,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. New Age Alpha Advisors LLC purchased a new stake in Centerspace in the 1st quarter worth approximately $86,000. First Trust Advisors LP purchased a new position in shares of Centerspace in the 4th quarter valued at approximately $223,000. Graham Capital Management L.P. purchased a new position in shares of Centerspace in the 4th quarter valued at approximately $227,000. Captrust Financial Advisors lifted its stake in shares of Centerspace by 14.0% in the 4th quarter. Captrust Financial Advisors now owns 3,780 shares of the company’s stock valued at $250,000 after purchasing an additional 464 shares during the period. Finally, Arizona State Retirement System lifted its stake in shares of Centerspace by 7.0% in the 1st quarter. Arizona State Retirement System now owns 4,753 shares of the company’s stock valued at $308,000 after purchasing an additional 313 shares during the period. Hedge funds and other institutional investors own 79.00% of the company’s stock.

Centerspace Stock Up 1.4%

Centerspace stock opened at $60.52 on Monday. The firm has a market cap of $1.01 billion, a price-to-earnings ratio of -33.62 and a beta of 0.75. The stock has a fifty day simple moving average of $57.76 and a two-hundred day simple moving average of $60.61. Centerspace has a 12 month low of $52.76 and a 12 month high of $75.92. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.97.

Centerspace (NYSE:CSR) last posted its earnings results on Monday, August 4th. The company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $67.89 million. Centerspace has set its FY 2025 guidance at 4.880-5.000 EPS. Equities analysts predict that Centerspace will post 4.94 EPS for the current fiscal year.

Centerspace Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Monday, September 29th will be issued a $0.77 dividend. The ex-dividend date of this dividend is Monday, September 29th. This represents a $3.08 annualized dividend and a dividend yield of 5.1%. Centerspace’s payout ratio is presently -171.11%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CSR. Wall Street Zen cut Centerspace from a “hold” rating to a “sell” rating in a research note on Sunday. UBS Group reduced their price objective on Centerspace from $67.00 to $60.00 and set a “neutral” rating for the company in a research report on Tuesday, July 15th. Raymond James Financial raised Centerspace from an “outperform” rating to a “strong-buy” rating and raised their price objective for the company from $66.00 to $69.00 in a research report on Thursday, May 15th. Finally, Wells Fargo & Company reduced their price objective on Centerspace from $68.00 to $60.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 27th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $68.75.

Insider Activity at Centerspace

In related news, Director John A. Schissel bought 500 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were bought at an average cost of $54.00 per share, for a total transaction of $27,000.00. Following the completion of the transaction, the director owned 14,398 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Bhairav Patel bought 500 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were bought at an average price of $54.00 per share, for a total transaction of $27,000.00. Following the completion of the transaction, the chief financial officer directly owned 3,733 shares of the company’s stock, valued at $201,582. This represents a 15.47% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 1,750 shares of company stock worth $95,325. Corporate insiders own 0.44% of the company’s stock.

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.