Centerspace $CSR Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP cut its holdings in Centerspace (NYSE:CSR) by 45.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 476,122 shares of the company’s stock after selling 395,555 shares during the quarter. Wellington Management Group LLP’s holdings in Centerspace were worth $26,753,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CSR. Sound Income Strategies LLC increased its stake in Centerspace by 67.4% during the 1st quarter. Sound Income Strategies LLC now owns 626 shares of the company’s stock valued at $36,000 after purchasing an additional 252 shares in the last quarter. Covestor Ltd lifted its stake in shares of Centerspace by 57,100.0% during the fourth quarter. Covestor Ltd now owns 572 shares of the company’s stock worth $38,000 after buying an additional 571 shares during the period. Avalon Trust Co grew its holdings in shares of 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 buying an additional 189 shares during the last quarter. Danske Bank A S purchased a new stake in shares of Centerspace during the fourth quarter valued at $47,000. Finally, Kestra Advisory Services LLC acquired a new position in shares of Centerspace in the 4th quarter valued at $58,000. Institutional investors and hedge funds own 79.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Zacks Research lowered Centerspace from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 18th. UBS Group increased their price objective on Centerspace from $66.00 to $70.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. Royal Bank Of Canada reduced their price objective on Centerspace from $67.00 to $64.00 and set an “outperform” rating for the company in a research note on Wednesday, August 5th. Piper Sandler decreased their target price on Centerspace from $60.00 to $58.00 and set a “neutral” rating for the company in a report on Thursday, August 27th. Finally, Wells Fargo & Company decreased their target price on Centerspace from $60.00 to $57.00 and set an “equal weight” rating for the company in a report on Tuesday. One equities research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Centerspace presently has an average rating of “Hold” and an average target price of $62.80.

Centerspace Price Performance

NYSE:CSR opened at $52.71 on Friday. The firm’s fifty day moving average is $55.13 and its two-hundred day moving average is $59.81. The firm has a market cap of $885.00 million, a price-to-earnings ratio of 41.83 and a beta of 0.86. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.03 and a current ratio of 0.03. Centerspace has a one year low of $52.00 and a one year high of $69.61.

Centerspace (NYSE:CSR) last released 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 business had revenue of $65.78 million during 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. Research analysts expect that Centerspace will post 4.67 EPS 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 given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 5.8%. The ex-dividend date is Tuesday, September 29th. Centerspace’s dividend payout ratio (DPR) is currently 244.44%.

Insider Buying and Selling

In related news, Director Rodney Jones-Tyson purchased 1,700 shares of the firm’s stock in a transaction on Monday, June 22nd. The stock was bought at an average cost of $55.26 per share, with a total value of $93,942.00. Following the completion of the acquisition, the director owned 7,877 shares of the company’s stock, valued at $435,283.02. The trade was a 27.52% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John Schissel acquired 500 shares of the stock in a transaction on Thursday, June 18th. The stock was bought at an average price of $54.90 per share, for a total transaction of $27,450.00. Following the transaction, the director owned 17,195 shares in the company, valued at approximately $944,005.50. This represents a 2.99% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 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.