Centerspace (NYSE:CSR) Director Buys 500 Shares

Centerspace (NYSE:CSR) Director John Schissel acquired 500 shares of the business’s stock in a transaction dated Thursday, June 18th. The stock was purchased at an average cost of $54.90 per share, for a total transaction of $27,450.00. Following the transaction, the director owned 17,195 shares in the company, valued at approximately $944,005.50. The trade was a 2.99% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Centerspace Stock Up 1.5%

NYSE:CSR traded up $0.81 during midday trading on Tuesday, reaching $56.15. 53,475 shares of the stock traded hands, compared to its average volume of 137,387. Centerspace has a 12-month low of $52.76 and a 12-month high of $69.61. The business has a 50-day moving average of $63.84 and a two-hundred day moving average of $63.49. 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 stock has a market capitalization of $943.24 million, a PE ratio of 124.76 and a beta of 0.88.

Centerspace (NYSE:CSR) last announced its earnings results on Monday, May 4th. The company reported ($0.77) earnings per share 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 analysts forecast that Centerspace will post 4.85 earnings per share for the current fiscal year.

Centerspace Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 14th. Investors of record on Monday, June 29th will be paid a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 5.5%. The ex-dividend date is Monday, June 29th. Centerspace’s payout ratio is 684.44%.

Hedge Funds Weigh In On Centerspace

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

Analysts Set New Price Targets

A number of equities research analysts have commented on CSR shares. Wells Fargo & Company increased their price target on Centerspace from $69.00 to $70.00 and gave the company an “equal weight” rating in a research note on Monday, June 1st. BTIG Research downgraded shares of Centerspace from a “buy” rating to a “neutral” rating in a report on Tuesday, June 16th. Piper Sandler raised shares of Centerspace from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $69.00 to $72.00 in a research report on Tuesday, April 7th. Wall Street Zen upgraded shares of Centerspace from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 17th. Finally, Weiss Ratings cut shares of Centerspace from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, June 17th. Two equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, Centerspace currently has a consensus rating of “Hold” and an average target price of $68.80.

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.