Centerspace (NYSE:CSR) Director John Schissel Purchases 500 Shares of Stock

Centerspace (NYSE:CSR) Director John Schissel purchased 500 shares of the stock in a transaction dated Thursday, June 18th. The shares were bought at an average price of $54.90 per share, with a total value of $27,450.00. Following the completion of the acquisition, the director directly owned 17,195 shares of the company’s stock, valued at approximately $944,005.50. This represents a 2.99% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Centerspace Stock Up 2.3%

Shares of CSR opened at $56.62 on Wednesday. Centerspace has a 52 week low of $52.76 and a 52 week high of $69.61. The stock has a market capitalization of $951.22 million, a price-to-earnings ratio of 125.82 and a beta of 0.88. 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 fifty day moving average of $63.70 and a 200-day moving average of $63.42.

Centerspace (NYSE:CSR) last issued its quarterly earnings data on Monday, May 4th. The company reported ($0.77) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.48). Centerspace had a return on equity of 0.94% and a net margin of 2.93%.The firm had revenue of $65.07 million for the quarter, compared to the consensus estimate of $66.54 million. Centerspace has set its FY 2026 guidance at 4.810-5.050 EPS. As a group, sell-side analysts anticipate that Centerspace will post 4.85 earnings per share for the current fiscal year.

Centerspace Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders of record on Monday, June 29th will be issued a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 5.4%. The ex-dividend date is Monday, June 29th. Centerspace’s payout ratio is 684.44%.

Wall Street Analysts Forecast Growth

CSR has been the subject of a number of research reports. Weiss Ratings lowered shares of Centerspace from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, June 17th. Royal Bank Of Canada reduced their target price on shares of Centerspace from $71.00 to $67.00 and set an “outperform” rating on the stock in a report on Friday, June 5th. Piper Sandler raised shares of Centerspace from a “neutral” rating to an “overweight” rating and raised their price target for the company from $69.00 to $72.00 in a research note on Tuesday, April 7th. UBS Group lifted their price target on shares of Centerspace from $66.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. Finally, Wall Street Zen raised shares of Centerspace from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 17th. Two research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $68.80.

Hedge Funds Weigh In On Centerspace

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Wellington Management Group LLP boosted its position in shares of Centerspace by 324.4% during the 4th quarter. Wellington Management Group LLP now owns 855,869 shares of the company’s stock valued at $57,104,000 after purchasing an additional 654,209 shares in the last quarter. Voss Capital LP bought a new stake in Centerspace in the fourth quarter worth approximately $22,068,000. Land & Buildings Investment Management LLC increased its holdings in Centerspace by 96.4% in the third quarter. Land & Buildings Investment Management LLC now owns 599,252 shares of the company’s stock worth $35,296,000 after purchasing an additional 294,086 shares in the last quarter. Long Pond Capital LP lifted its stake in Centerspace by 108.0% in the fourth quarter. Long Pond Capital LP now owns 444,101 shares of the company’s stock valued at $29,630,000 after buying an additional 230,638 shares during the period. Finally, Millennium Management LLC lifted its stake in Centerspace by 307.3% in the first quarter. Millennium Management LLC now owns 184,051 shares of the company’s stock valued at $11,917,000 after buying an additional 138,861 shares during the period. Institutional investors and hedge funds own 79.00% of the company’s stock.

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.