Insider Buying: Centerspace (NYSE:CSR) Director Acquires 1,700 Shares of Stock

Centerspace (NYSE:CSR) Director Rodney Jones-Tyson acquired 1,700 shares of the stock in a transaction dated Monday, June 22nd. The shares were purchased at an average price of $55.26 per share, for a total transaction 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 ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website.

Centerspace Stock Performance

Shares of CSR stock traded up $0.52 on Wednesday, reaching $56.92. The stock had a trading volume of 130,491 shares, compared to its average volume of 138,440. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.88. The firm’s 50-day moving average is $63.70 and its two-hundred day moving average is $63.42. The firm has a market capitalization of $956.29 million, a price-to-earnings ratio of 126.49 and a beta of 0.88. Centerspace has a 12 month low of $52.76 and a 12 month high of $69.61.

Centerspace (NYSE:CSR) last posted its quarterly earnings results on Monday, May 4th. The company reported ($0.77) EPS for the quarter, missing analysts’ consensus estimates 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. On average, research analysts expect that Centerspace will post 4.85 EPS for the current fiscal year.

Centerspace Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders of record on Monday, June 29th will be paid 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 currently 684.44%.

Hedge Funds Weigh In On Centerspace

Large investors have recently made changes to their positions in the company. Covestor Ltd boosted its stake in Centerspace by 57,100.0% in the 4th quarter. Covestor Ltd now owns 572 shares of the company’s stock valued at $38,000 after purchasing an additional 571 shares during the period. Sound Income Strategies LLC grew its holdings in Centerspace by 67.4% in the 1st quarter. Sound Income Strategies LLC now owns 626 shares of the company’s stock valued at $36,000 after buying an additional 252 shares in the last quarter. Danske Bank A S bought a new position in Centerspace during the 4th quarter worth $47,000. Avalon Trust Co increased its position in Centerspace by 36.3% during the 1st quarter. Avalon Trust Co now owns 709 shares of the company’s stock worth $41,000 after buying an additional 189 shares during the period. Finally, Kestra Advisory Services LLC acquired a new stake in shares of Centerspace during the fourth quarter worth $58,000. Institutional investors own 79.00% of the company’s stock.

Wall Street Analysts Forecast Growth

CSR has been the topic of a number of research analyst reports. BTIG Research cut Centerspace from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 16th. Wells Fargo & Company lifted their price objective on shares of Centerspace from $69.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Monday, June 1st. Wall Street Zen upgraded shares of Centerspace from a “strong sell” rating to a “sell” rating in a report on Sunday, May 17th. Royal Bank Of Canada dropped their price objective on shares of Centerspace from $71.00 to $67.00 and set an “outperform” rating on the stock in a research report on Friday, June 5th. Finally, Piper Sandler upgraded shares of Centerspace from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $69.00 to $72.00 in a research note on Tuesday, April 7th. Two analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $68.80.

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.