Legal & General Group Plc Purchases New Shares in Centerspace $CSR

Legal & General Group Plc acquired a new stake in shares of Centerspace (NYSE:CSR) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 95,849 shares of the company’s stock, valued at approximately $5,386,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Diamond Hill Capital Management Inc. purchased a new position in shares of Centerspace during the fourth quarter valued at about $3,163,000. BlackRock Inc. bought a new position in shares of Centerspace in the 2nd quarter worth about $167,912,000. Diamond Hill Capital Management LLC Investment Advisor bought a new position in shares of Centerspace during the second quarter valued at approximately $7,009,000. Systematic Financial Management LP increased its position in Centerspace by 19.7% during the 4th quarter. Systematic Financial Management LP now owns 305,533 shares of the company’s stock valued at $20,385,000 after buying an additional 50,350 shares in the last quarter. Finally, Rock Creek Group LP bought a new stake in Centerspace during the 4th quarter valued at about $495,000. 79.00% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CSR has been the subject of several recent analyst reports. UBS Group boosted their price target on Centerspace from $66.00 to $70.00 and gave the stock a “neutral” rating in a research note on Thursday, May 14th. Weiss Ratings downgraded shares of Centerspace from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, August 19th. Zacks Research downgraded Centerspace from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 18th. Royal Bank Of Canada lowered their price objective on Centerspace from $67.00 to $64.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 5th. Finally, Wells Fargo & Company cut their price objective on Centerspace from $60.00 to $57.00 and set an “equal weight” rating for the company in a research note on Tuesday. One equities research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $62.80.

Centerspace Price Performance

Shares of Centerspace stock opened at $52.27 on Friday. The company has a market capitalization of $877.61 million, a price-to-earnings ratio of 41.48 and a beta of 0.86. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.87. The stock’s 50-day simple moving average is $55.21 and its 200-day simple moving average is $59.86. Centerspace has a 52 week low of $52.02 and a 52 week high of $69.61.

Centerspace (NYSE:CSR) last issued its earnings results on Monday, August 3rd. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.06. Centerspace had a return on equity of 2.58% and a net margin of 7.97%.The company had revenue of $65.78 million for the quarter, compared to the consensus estimate of $66.29 million. Centerspace has set its FY 2026 guidance at 4.580-4.680 EPS. As a group, analysts expect that Centerspace will post 4.67 earnings per share for the current fiscal year.

Centerspace Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 14th. Stockholders of record on Tuesday, September 29th will be issued a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 5.9%. The ex-dividend date of this dividend is Tuesday, September 29th. Centerspace’s payout ratio is 244.44%.

Insider Buying and Selling at Centerspace

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

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.