Diamond Hill Capital Management Inc. Makes New Investment in Centerspace $CSR

Diamond Hill Capital Management Inc. acquired a new position in Centerspace (NYSE:CSR) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 47,413 shares of the company’s stock, valued at approximately $3,163,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Covestor Ltd raised its stake in Centerspace by 57,100.0% in the 4th quarter. Covestor Ltd now owns 572 shares of the company’s stock worth $38,000 after purchasing an additional 571 shares in the last quarter. Hantz Financial Services Inc. raised its stake in Centerspace by 998.3% in the 3rd quarter. Hantz Financial Services Inc. now owns 659 shares of the company’s stock worth $39,000 after purchasing an additional 599 shares in the last quarter. Danske Bank A S acquired a new stake in Centerspace in the 4th quarter worth about $47,000. GAMMA Investing LLC raised its stake in Centerspace by 107.0% in the 4th quarter. GAMMA Investing LLC now owns 942 shares of the company’s stock worth $63,000 after purchasing an additional 487 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in Centerspace by 64.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,252 shares of the company’s stock worth $136,000 after purchasing an additional 879 shares in the last quarter. Institutional investors and hedge funds own 79.00% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Weiss Ratings upgraded shares of Centerspace from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, May 6th. Wells Fargo & Company dropped their target price on shares of Centerspace from $74.00 to $69.00 and set an “equal weight” rating for the company in a research report on Thursday, March 5th. UBS Group boosted their target price on shares of Centerspace from $66.00 to $70.00 and gave the company a “neutral” rating in a research report on Thursday, May 14th. Wall Street Zen upgraded shares of Centerspace from a “strong sell” rating to a “sell” rating in a research report on Sunday, May 17th. Finally, Piper Sandler upgraded shares of Centerspace from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $69.00 to $72.00 in a research report on Tuesday, April 7th. Two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $69.40.

Centerspace Price Performance

Shares of NYSE:CSR opened at $68.09 on Friday. The firm has a 50 day moving average of $63.45 and a 200-day moving average of $64.13. The stock has a market capitalization of $1.14 billion, a PE ratio of 151.31 and a beta of 0.89. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.88. Centerspace has a 12 month low of $52.76 and a 12 month high of $69.61.

Centerspace (NYSE:CSR) last issued its earnings results on Monday, May 4th. The company reported ($0.77) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.48). The firm had revenue of $65.07 million during the quarter, compared to analyst estimates of $66.54 million. Centerspace had a net margin of 2.93% and a return on equity of 0.94%. Centerspace has set its FY 2026 guidance at 4.810-5.050 EPS. On average, equities research analysts predict that Centerspace will post 4.85 EPS for the current fiscal year.

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