Centerspace $CSR Shares Purchased by ABS Direct Equity Fund LLC

ABS Direct Equity Fund LLC raised its holdings in shares of Centerspace (NYSE:CSR) by 131.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,000 shares of the company’s stock after acquiring an additional 14,193 shares during the period. ABS Direct Equity Fund LLC owned approximately 0.15% of Centerspace worth $1,436,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in CSR. Sound Income Strategies LLC raised its stake in shares of Centerspace by 67.4% during the first quarter. Sound Income Strategies LLC now owns 626 shares of the company’s stock valued at $36,000 after purchasing an additional 252 shares in the last quarter. Covestor Ltd grew its position in Centerspace by 57,100.0% in the 4th quarter. Covestor Ltd now owns 572 shares of the company’s stock valued at $38,000 after buying an additional 571 shares in the last quarter. Avalon Trust Co increased its stake in Centerspace by 36.3% during the 1st quarter. Avalon Trust Co now owns 709 shares of the company’s stock valued at $41,000 after buying an additional 189 shares during the period. Danske Bank A S acquired a new position in Centerspace during the 4th quarter valued at about $47,000. Finally, Kestra Advisory Services LLC bought a new stake in shares of Centerspace during the 4th quarter worth about $58,000. Institutional investors own 79.00% of the company’s stock.

Analyst Upgrades and Downgrades

CSR has been the topic of a number of research analyst reports. BTIG Research lowered shares of Centerspace from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 16th. Piper Sandler cut their target price on Centerspace from $64.00 to $60.00 and set a “neutral” rating for the company in a research report on Tuesday, July 21st. Royal Bank Of Canada decreased their price target on Centerspace from $71.00 to $67.00 and set an “outperform” rating for the company in a research note on Friday, June 5th. Weiss Ratings cut Centerspace from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, June 17th. Finally, Wells Fargo & Company dropped their price objective on Centerspace from $70.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Wednesday. One equities research analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Centerspace currently has an average rating of “Hold” and an average price target of $64.40.

Insider Transactions at Centerspace

In other news, Director John A. Schissel bought 500 shares of the firm’s stock in a transaction on Thursday, June 18th. The stock was bought at an average cost of $54.90 per share, for a total transaction of $27,450.00. Following the completion of the acquisition, the director directly owned 17,195 shares in the company, valued at $944,005.50. This represents a 2.99% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Rodney Jones-Tyson purchased 1,700 shares of Centerspace stock in a transaction that occurred on Monday, June 22nd. The stock was purchased at an average price of $55.26 per share, with a total value of $93,942.00. Following the transaction, the director owned 7,877 shares in the company, valued at $435,283.02. This represents a 27.52% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.49% of the stock is currently owned by corporate insiders.

Centerspace Trading Up 0.1%

Centerspace stock opened at $55.77 on Monday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.03 and a current ratio of 0.03. The firm has a market cap of $936.94 million, a price-to-earnings ratio of 123.93 and a beta of 0.89. Centerspace has a 1 year low of $52.76 and a 1 year high of $69.61. The firm’s 50 day moving average price is $59.05 and its two-hundred day moving average price is $61.93.

Centerspace (NYSE:CSR) last announced its quarterly earnings data on Monday, May 4th. The company reported ($0.77) EPS for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.48). Centerspace had a net margin of 2.93% and a return on equity of 0.94%. The company had revenue of $65.07 million for the quarter, compared to analyst estimates of $66.54 million. Centerspace has set its FY 2026 guidance at 4.810-5.050 EPS. On average, research analysts predict that Centerspace will post 4.83 EPS for the current fiscal year.

Centerspace Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 14th. Shareholders of record on Monday, June 29th were paid a dividend of $0.77 per share. The ex-dividend date of this dividend was Monday, June 29th. This represents a $3.08 dividend on an annualized basis and a yield of 5.5%. Centerspace’s dividend payout ratio is currently 684.44%.

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. Centerspace was named a Top Workplace for the fourth consecutive year in 2023 by the Minneapolis Star Tribune.