Public Employees Retirement System of Ohio acquired a new position in shares of Centerspace (NYSE:CSR – Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 19,425 shares of the company’s stock, valued at approximately $1,091,000. Public Employees Retirement System of Ohio owned approximately 0.12% of Centerspace at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of the stock. Avalon Trust Co lifted its position in Centerspace by 36.3% during the first quarter. Avalon Trust Co now owns 709 shares of the company’s stock valued at $41,000 after purchasing an additional 189 shares during the last quarter. Captrust Financial Advisors increased its holdings in shares of Centerspace by 4.9% in the 4th quarter. Captrust Financial Advisors now owns 4,348 shares of the company’s stock worth $290,000 after buying an additional 202 shares during the last quarter. Engineers Gate Manager LP raised its position in shares of Centerspace by 6.4% during the 4th quarter. Engineers Gate Manager LP now owns 4,091 shares of the company’s stock valued at $273,000 after buying an additional 246 shares in the last quarter. State of Tennessee Department of Treasury lifted its holdings in shares of Centerspace by 3.7% during the 2nd 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 position in Centerspace by 67.4% in the first quarter. Sound Income Strategies LLC now owns 626 shares of the company’s stock worth $36,000 after acquiring an additional 252 shares in the last quarter. 79.00% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of research analysts recently commented on the company. Piper Sandler reduced their target price on Centerspace from $60.00 to $58.00 and set a “neutral” rating on the stock in a research note on Thursday, August 27th. Wells Fargo & Company cut their price objective on Centerspace from $60.00 to $57.00 and set an “equal weight” rating for the company in a report on Tuesday, September 1st. BTIG Research lowered Centerspace from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 16th. Royal Bank Of Canada decreased their price objective on Centerspace from $67.00 to $64.00 and set an “outperform” rating on the stock in a report on Wednesday, August 5th. Finally, Wall Street Zen upgraded Centerspace from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. 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 company. Based on data from MarketBeat.com, Centerspace has a consensus rating of “Hold” and an average price target of $62.80.
Insider Transactions at Centerspace
In other Centerspace news, Director Rodney Jones-Tyson purchased 1,700 shares of the stock in a transaction 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 transaction, the director directly 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. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director John Schissel acquired 500 shares of the company’s stock in a transaction on Thursday, June 18th. The stock was acquired at an average price of $54.90 per share, with a total value of $27,450.00. Following the acquisition, the director owned 17,195 shares in the company, valued at approximately $944,005.50. This trade represents a 2.99% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.49% of the stock is owned by insiders.
Centerspace Trading Down 0.3%
NYSE:CSR opened at $52.74 on Wednesday. The company has a fifty day moving average of $54.97 and a 200 day moving average of $59.64. Centerspace has a 52 week low of $52.00 and a 52 week high of $69.61. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $885.72 million, a P/E ratio of 41.86 and a beta of 0.86.
Centerspace (NYSE:CSR – Get Free Report) last announced its quarterly earnings results on Monday, August 3rd. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.06. Centerspace had a net margin of 7.97% and a return on equity of 2.58%. The business had revenue of $65.78 million for the quarter, compared to analyst estimates of $66.29 million. Centerspace has set its FY 2026 guidance at 4.580-4.680 EPS. On average, research analysts predict that Centerspace will post 4.67 earnings per share for the current year.
Centerspace Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 14th. Investors of record on Tuesday, September 29th will be issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 5.8%. The ex-dividend date is Tuesday, September 29th. Centerspace’s payout ratio is currently 244.44%.
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.
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