14,378 Shares in Centerspace $CSR Acquired by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Centerspace (NYSE:CSR) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 14,378 shares of the company’s stock, valued at approximately $808,000. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.09% of Centerspace as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CSR. Avalon Trust Co raised its position in shares of Centerspace by 36.3% in the first 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 last quarter. Captrust Financial Advisors lifted its stake in shares of Centerspace by 4.9% in the fourth quarter. Captrust Financial Advisors now owns 4,348 shares of the company’s stock worth $290,000 after buying an additional 202 shares in the last quarter. Engineers Gate Manager LP boosted its position in Centerspace by 6.4% during the fourth quarter. Engineers Gate Manager LP now owns 4,091 shares of the company’s stock worth $273,000 after acquiring an additional 246 shares during the last quarter. State of Tennessee Department of Treasury boosted its position in Centerspace by 3.7% during the second quarter. State of Tennessee Department of Treasury now owns 6,877 shares of the company’s stock worth $414,000 after acquiring an additional 247 shares during the last quarter. Finally, 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 acquiring an additional 252 shares in the last quarter. Hedge funds and other institutional investors own 79.00% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the stock. Piper Sandler cut their price objective on shares of Centerspace from $64.00 to $60.00 and set a “neutral” rating for the company in a report on Tuesday, July 21st. Zacks Research cut Centerspace from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 18th. UBS Group upped their price target on Centerspace from $66.00 to $70.00 and gave the company a “neutral” rating in a research report on Thursday, May 14th. BTIG Research cut Centerspace from a “buy” rating to a “neutral” rating in a report on Tuesday, June 16th. Finally, Royal Bank Of Canada reduced 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. One analyst has rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $63.80.

Centerspace Trading Down 0.3%

Shares of CSR opened at $53.99 on Friday. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.87. Centerspace has a 12-month low of $53.33 and a 12-month high of $69.61. The firm has a 50-day moving average price of $55.76 and a 200 day moving average price of $60.59. The firm has a market capitalization of $906.49 million, a P/E ratio of 42.85 and a beta of 0.88.

Centerspace (NYSE:CSR) last released its quarterly earnings data on Monday, August 3rd. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.06. The firm had revenue of $65.78 million during the quarter, compared to analysts’ expectations of $66.29 million. Centerspace had a net margin of 7.97% and a return on equity of 2.58%. Centerspace has set its FY 2026 guidance at 4.580-4.680 EPS. Sell-side analysts forecast that Centerspace will post 4.67 EPS for the current year.

Centerspace Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 14th. Stockholders of record on Monday, June 29th were given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 5.7%. The ex-dividend date of this dividend was Monday, June 29th. Centerspace’s payout ratio is presently 244.44%.

Insider Activity at Centerspace

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

Centerspace 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.