Renaissance Technologies LLC Sells 45,638 Shares of Centerspace $CSR

Renaissance Technologies LLC lessened its stake in shares of Centerspace (NYSE:CSR) by 15.1% during the first quarter, Holdings Channel reports. The fund owned 257,500 shares of the company’s stock after selling 45,638 shares during the quarter. Renaissance Technologies LLC’s holdings in Centerspace were worth $14,793,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of CSR. Royal Bank of Canada grew its holdings in Centerspace by 199.5% in the first quarter. Royal Bank of Canada now owns 15,720 shares of the company’s stock worth $1,019,000 after purchasing an additional 10,472 shares during the period. AQR Capital Management LLC raised its holdings in shares of Centerspace by 32.5% during the first quarter. AQR Capital Management LLC now owns 4,891 shares of the company’s stock valued at $317,000 after purchasing an additional 1,200 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Centerspace by 2.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,790 shares of the company’s stock worth $958,000 after purchasing an additional 287 shares in the last quarter. Millennium Management LLC boosted its position in shares of Centerspace by 307.3% during the 1st quarter. Millennium Management LLC now owns 184,051 shares of the company’s stock worth $11,917,000 after purchasing an additional 138,861 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of Centerspace by 17.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 138,676 shares of the company’s stock worth $8,979,000 after purchasing an additional 20,992 shares in the last quarter. 79.00% of the stock is owned by institutional investors.

Centerspace Trading Down 1.8%

NYSE:CSR opened at $54.97 on Friday. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.03 and a quick ratio of 0.03. The firm has a 50-day moving average of $57.91 and a 200-day moving average of $61.59. The company has a market cap of $923.56 million, a PE ratio of 122.16 and a beta of 0.89. Centerspace has a one year low of $52.76 and a one year high of $69.61.

Centerspace (NYSE:CSR) last announced its quarterly 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 during the quarter, compared to the consensus estimate 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. As a group, equities research analysts expect that Centerspace will post 4.83 EPS for the current fiscal year.

Centerspace Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 14th. Stockholders of record on Monday, June 29th were paid a $0.77 dividend. The ex-dividend date of this dividend was Monday, June 29th. This represents a $3.08 annualized dividend and a dividend yield of 5.6%. Centerspace’s dividend payout ratio is 684.44%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CSR. BTIG Research lowered Centerspace from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 16th. Wall Street Zen upgraded Centerspace from a “strong sell” rating to a “sell” rating in a report on Sunday, May 17th. Piper Sandler reduced their price objective on Centerspace from $64.00 to $60.00 and set a “neutral” rating for the company in a research note on Tuesday, July 21st. Weiss Ratings lowered Centerspace from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, June 17th. Finally, UBS Group increased their target price on Centerspace from $66.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. One equities research analyst has rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, Centerspace currently has a consensus rating of “Hold” and a consensus price target of $64.40.

Insider Buying and Selling

In related news, Director Rodney Jones-Tyson bought 1,700 shares of the company’s stock in a transaction dated Monday, June 22nd. The shares were bought at an average price of $55.26 per share, for a total transaction of $93,942.00. Following the completion of the acquisition, 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 ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John A. Schissel bought 500 shares of the business’s stock in a transaction that occurred 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 transaction, the director owned 17,195 shares of the company’s stock, valued at $944,005.50. The trade was a 2.99% 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 owned by company insiders.

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.