Centerspace (NYSE:CSR) Director Acquires $93,942.00 in Stock

Centerspace (NYSE:CSR) Director Rodney Jones-Tyson purchased 1,700 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The shares were acquired at an average cost of $55.26 per share, with a total value of $93,942.00. Following the completion of the purchase, the director directly owned 7,877 shares in the company, valued at $435,283.02. The trade was a 27.52% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Centerspace Stock Performance

Shares of Centerspace stock opened at $57.01 on Friday. The stock’s fifty day moving average is $63.35 and its two-hundred day moving average is $63.27. The company has a market capitalization of $957.80 million, a PE ratio of 126.69 and a beta of 0.88. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.88. Centerspace has a 52 week low of $52.76 and a 52 week high of $69.61.

Centerspace (NYSE:CSR) last released 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 business had revenue of $65.07 million for the quarter, compared to the consensus estimate of $66.54 million. Centerspace had a return on equity of 0.94% and a net margin of 2.93%.Centerspace has set its FY 2026 guidance at 4.810-5.050 EPS. As a group, analysts expect that Centerspace will post 4.85 earnings per share for the current year.

Centerspace Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 14th. Shareholders of record on Monday, June 29th will be paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 5.4%. The ex-dividend date is Monday, June 29th. Centerspace’s dividend payout ratio is currently 684.44%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Royal Bank Of Canada dropped their price objective on Centerspace from $71.00 to $67.00 and set an “outperform” rating on the stock in a research note on Friday, June 5th. Weiss Ratings lowered Centerspace from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, June 17th. BTIG Research cut Centerspace from a “buy” rating to a “neutral” rating in a report on Tuesday, June 16th. Wells Fargo & Company increased their price target on Centerspace from $69.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Monday, June 1st. Finally, Wall Street Zen upgraded Centerspace from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 17th. Two analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, Centerspace has an average rating of “Hold” and a consensus target price of $68.80.

Hedge Funds Weigh In On Centerspace

A number of hedge funds and other institutional investors have recently modified their holdings of CSR. Amundi increased its holdings in Centerspace by 4.4% during the first quarter. Amundi now owns 11,052 shares of the company’s stock valued at $635,000 after buying an additional 462 shares during the period. Quantinno Capital Management LP raised its stake in Centerspace by 19.2% in the first quarter. Quantinno Capital Management LP now owns 34,406 shares of the company’s stock worth $1,977,000 after buying an additional 5,534 shares in the last quarter. ABS Direct Equity Fund LLC lifted its holdings in Centerspace by 131.3% during the first quarter. ABS Direct Equity Fund LLC now owns 25,000 shares of the company’s stock worth $1,436,000 after buying an additional 14,193 shares during the period. Cetera Investment Advisers purchased a new stake in Centerspace during the first quarter worth $208,000. Finally, Dimensional Fund Advisors LP boosted its position in Centerspace by 0.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 238,535 shares of the company’s stock valued at $13,704,000 after acquiring an additional 2,139 shares in the last quarter. 79.00% of the stock is currently owned by institutional investors.

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.