3,100 Shares in Centerspace $CSR Bought by Strs Ohio

Strs Ohio purchased a new stake in shares of Centerspace (NYSE:CSR) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 3,100 shares of the company’s stock, valued at approximately $201,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. New Age Alpha Advisors LLC acquired a new stake in shares of Centerspace in the first quarter valued at about $86,000. Integrity Alliance LLC. acquired a new stake in shares of Centerspace in the first quarter valued at about $251,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Centerspace in the first quarter valued at about $307,000. Arizona State Retirement System grew its position in shares of Centerspace by 7.0% in the first 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. Finally, UniSuper Management Pty Ltd grew its position in shares of Centerspace by 11.7% in the first quarter. UniSuper Management Pty Ltd now owns 4,770 shares of the company’s stock valued at $309,000 after purchasing an additional 500 shares during the period. Institutional investors and hedge funds own 79.00% of the company’s stock.

Centerspace Stock Performance

CSR opened at $58.39 on Thursday. The firm has a market capitalization of $978.63 million, a PE ratio of -32.44 and a beta of 0.75. Centerspace has a twelve month low of $52.76 and a twelve month high of $75.92. The firm’s 50-day moving average price is $57.28 and its 200 day moving average price is $60.08. 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 quarterly earnings results on Monday, August 4th. The company reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.02. Centerspace had a negative net margin of 9.13% and a negative return on equity of 2.81%. The firm had revenue of $68.55 million for the quarter, compared to analyst estimates of $67.89 million. Centerspace has set its FY 2025 guidance at 4.880-5.000 EPS. As a group, sell-side analysts expect that Centerspace will post 4.94 EPS for the current fiscal year.

Centerspace Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Monday, September 29th will be paid a dividend of $0.77 per share. The ex-dividend date of this dividend is Monday, September 29th. This represents a $3.08 dividend on an annualized basis and a yield of 5.3%. Centerspace’s payout ratio is -171.11%.

Insiders Place Their Bets

In other news, Director John A. Schissel bought 500 shares of Centerspace stock in a transaction on Friday, August 8th. The shares were bought at an average cost of $54.00 per share, with a total value of $27,000.00. Following the completion of the purchase, the director directly 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Bhairav Patel bought 500 shares of Centerspace stock in a transaction on Friday, August 8th. The shares were purchased at an average cost of $54.00 per share, for a total transaction of $27,000.00. Following the completion of the purchase, the chief financial officer directly owned 3,733 shares of the company’s stock, valued at $201,582. This trade represents a 15.47% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 1,750 shares of company stock valued at $95,325 over the last ninety days. Company insiders own 0.44% of the company’s stock.

Analyst Ratings Changes

CSR has been the topic of several research analyst reports. Wells Fargo & Company dropped their target price on shares of Centerspace from $68.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 27th. UBS Group dropped 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, Wall Street Zen lowered shares of Centerspace from a “hold” rating to a “sell” rating in a research report on Sunday, September 7th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $68.75.

About Centerspace

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.