Mitsubishi UFJ Asset Management Co. Ltd. Purchases Shares of 14,378 Centerspace $CSR

Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Centerspace (NYSE:CSR) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 14,378 shares of the company’s stock, valued at approximately $808,000.

Other large investors have also recently made changes to their positions in the company. Diamond Hill Capital Management LLC Investment Advisor acquired a new stake in Centerspace in the 2nd quarter valued at approximately $7,009,000. Bank of New York Mellon Corp acquired a new position in Centerspace during the second quarter worth $7,190,000. State of Wyoming purchased a new position in shares of Centerspace during the second quarter worth $60,000. Amundi boosted its position in shares of Centerspace by 4.4% during the first quarter. Amundi now owns 11,052 shares of the company’s stock worth $635,000 after buying an additional 462 shares during the period. Finally, Quantinno Capital Management LP grew its stake in shares of Centerspace by 19.2% in the first quarter. Quantinno Capital Management LP now owns 34,406 shares of the company’s stock valued at $1,977,000 after buying an additional 5,534 shares in the last quarter. 79.00% of the stock is currently owned by institutional investors and hedge funds.

Centerspace Stock Performance

NYSE:CSR opened at $53.99 on Friday. The company has a fifty day simple moving average of $55.76 and a two-hundred day simple moving average of $60.59. The company has a market cap of $906.49 million, a price-to-earnings ratio of 42.85 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 0.87. Centerspace has a 52 week low of $53.33 and a 52 week high of $69.61.

Centerspace (NYSE:CSR) last posted its quarterly earnings data on Monday, August 3rd. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.06. The business had revenue of $65.78 million for the quarter, compared to analyst estimates 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, equities analysts anticipate that Centerspace will post 4.67 earnings per share for the current fiscal year.

Centerspace Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 14th. Shareholders of record on Monday, June 29th were issued a dividend of $0.77 per share. The ex-dividend date was Monday, June 29th. This represents a $3.08 annualized dividend and a yield of 5.7%. Centerspace’s dividend payout ratio is 244.44%.

Insider Activity

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

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CSR. Piper Sandler cut their price objective on Centerspace from $64.00 to $60.00 and set a “neutral” rating on the stock in a report on Tuesday, July 21st. Wells Fargo & Company dropped their target price on Centerspace from $70.00 to $60.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 22nd. Zacks Research lowered shares of Centerspace from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 18th. Weiss Ratings lowered shares of Centerspace from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday. Finally, UBS Group increased their price target on shares of Centerspace from $66.00 to $70.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. 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’s stock. According to data from MarketBeat, Centerspace has a consensus rating of “Hold” and a consensus target price of $63.80.

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.