Wellington Management Group LLP Reduces Stake in Centerspace $CSR

Wellington Management Group LLP reduced its stake in shares of Centerspace (NYSE:CSR) by 45.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 476,122 shares of the company’s stock after selling 395,555 shares during the quarter. Wellington Management Group LLP owned about 2.84% of Centerspace worth $26,753,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in shares of Centerspace in the 2nd quarter valued at approximately $167,912,000. Long Pond Capital LP increased its position in shares of Centerspace by 108.0% during the 4th quarter. Long Pond Capital LP now owns 444,101 shares of the company’s stock valued at $29,630,000 after purchasing an additional 230,638 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Centerspace by 9.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 340,286 shares of the company’s stock valued at $22,704,000 after buying an additional 28,809 shares during the period. Voss Capital LP purchased a new stake in Centerspace during the 4th quarter valued at $22,068,000. Finally, Systematic Financial Management LP lifted its position in Centerspace by 19.7% in the fourth quarter. Systematic Financial Management LP now owns 305,533 shares of the company’s stock worth $20,385,000 after buying an additional 50,350 shares during the last quarter. 79.00% of the stock is owned by institutional investors.

Centerspace Stock Performance

Shares of Centerspace stock opened at $52.71 on Friday. The stock’s fifty day moving average is $55.13 and its two-hundred day moving average is $59.81. The company has a market capitalization of $885.00 million, a PE ratio of 41.83 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. Centerspace has a 52 week low of $52.00 and a 52 week high of $69.61.

Centerspace (NYSE:CSR) last released its earnings results on Monday, August 3rd. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.06. The business had revenue of $65.78 million during the quarter, compared to the consensus estimate of $66.29 million. Centerspace had a return on equity of 2.58% and a net margin of 7.97%.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 year.

Centerspace Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 14th. Investors of record on Tuesday, September 29th will be paid a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 5.8%. The ex-dividend date of this dividend is Tuesday, September 29th. Centerspace’s dividend payout ratio (DPR) is currently 244.44%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Wall Street Zen raised shares of Centerspace from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Piper Sandler reduced their target price on shares of Centerspace from $60.00 to $58.00 and set a “neutral” rating on the stock in a research note on Thursday, August 27th. Royal Bank Of Canada lowered their target price on shares of Centerspace from $67.00 to $64.00 and set an “outperform” rating for the company in a report on Wednesday, August 5th. Wells Fargo & Company dropped their price target on shares of Centerspace from $60.00 to $57.00 and set an “equal weight” rating for the company in a research note on Tuesday. Finally, BTIG Research downgraded shares of Centerspace from a “buy” rating to a “neutral” rating in a report on Tuesday, June 16th. One research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Centerspace has an average rating of “Hold” and an average target price of $62.80.

Insider Transactions at Centerspace

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

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.