Hsbc Holdings PLC Makes New $1.83 Million Investment in Centerspace $CSR

Hsbc Holdings PLC acquired a new stake in Centerspace (NYSE:CSR) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 32,621 shares of the company’s stock, valued at approximately $1,833,000. Hsbc Holdings PLC owned about 0.19% of Centerspace at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Royal Bank of Canada lifted its stake in Centerspace by 199.5% during 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 last quarter. AQR Capital Management LLC raised its holdings in Centerspace by 32.5% during the first quarter. AQR Capital Management LLC now owns 4,891 shares of the company’s stock worth $317,000 after purchasing an additional 1,200 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Centerspace by 2.0% during the first 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 lifted 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 buying an additional 138,861 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted 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 buying an additional 20,992 shares during the last quarter. 79.00% of the stock is owned by hedge funds and other institutional investors.

Centerspace Stock Performance

NYSE:CSR opened at $52.48 on Monday. Centerspace has a 12-month low of $52.43 and a 12-month high of $69.61. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.87. The stock’s 50 day simple moving average is $55.53 and its 200-day simple moving average is $60.19. The firm has a market cap of $881.14 million, a P/E ratio of 41.65 and a beta of 0.88.

Centerspace (NYSE:CSR) last posted its quarterly earnings data on Monday, August 3rd. The company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.06. The firm had revenue of $65.78 million for the quarter, compared to analyst estimates of $66.29 million. Centerspace had a net margin of 7.97% and a return on equity of 2.58%. Centerspace has set its FY 2026 guidance at 4.580-4.680 EPS. Equities analysts anticipate that Centerspace will post 4.67 EPS for the current year.

Insider Transactions at Centerspace

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

Analyst Ratings Changes

Several research firms have recently weighed in on CSR. Zacks Research downgraded Centerspace from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 18th. Wells Fargo & Company lowered their target price on shares of Centerspace from $70.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 22nd. BTIG Research downgraded shares of Centerspace from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 16th. 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 note on Thursday, May 14th. Finally, Piper Sandler lowered their price objective on shares of Centerspace from $60.00 to $58.00 and set a “neutral” rating on the stock in a research report on Thursday. One equities research analyst has rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Centerspace has a consensus rating of “Hold” and an average price target of $63.40.

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.