Renaissance Technologies LLC Has $14.79 Million Position in Centerspace $CSR

Renaissance Technologies LLC trimmed its position in Centerspace (NYSE:CSR) by 15.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 257,500 shares of the company’s stock after selling 45,638 shares during the quarter. Renaissance Technologies LLC owned 1.53% of Centerspace worth $14,793,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Diamond Hill Capital Management Inc. bought a new position in shares of Centerspace in the 4th quarter valued at $3,163,000. Systematic Financial Management LP lifted its position in shares of Centerspace by 19.7% during the 4th quarter. Systematic Financial Management LP now owns 305,533 shares of the company’s stock worth $20,385,000 after buying an additional 50,350 shares during the last quarter. Rock Creek Group LP bought a new stake in shares of Centerspace during the 4th quarter worth $495,000. Horizon Investments LLC acquired a new stake in Centerspace in the fourth quarter valued at about $645,000. Finally, Voss Capital LP acquired a new stake in Centerspace in the fourth quarter valued at about $22,068,000. 79.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CSR shares. Wells Fargo & Company decreased their target price on Centerspace from $70.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 22nd. Weiss Ratings cut shares of Centerspace from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, June 17th. Royal Bank Of Canada reduced their price target on shares of Centerspace from $71.00 to $67.00 and set an “outperform” rating on the stock in a research note on Friday, June 5th. Piper Sandler decreased their price target on shares of Centerspace from $64.00 to $60.00 and set a “neutral” rating on the stock in a report on Tuesday, July 21st. Finally, Wall Street Zen upgraded shares of Centerspace from a “strong sell” rating to a “sell” rating in a research report on Sunday, May 17th. One analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $64.40.

Centerspace Stock Performance

Shares of Centerspace stock opened at $54.97 on Friday. The stock has a market cap of $923.56 million, a price-to-earnings ratio of 122.16 and a beta of 0.89. Centerspace has a twelve month low of $52.76 and a twelve month high of $69.61. The company’s fifty day moving average is $57.91 and its 200 day moving average is $61.59. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.88.

Centerspace (NYSE:CSR) last released 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). Centerspace had a net margin of 2.93% and a return on equity of 0.94%. The company had revenue of $65.07 million during the quarter, compared to the consensus estimate of $66.54 million. Centerspace has set its FY 2026 guidance at 4.810-5.050 EPS. Sell-side analysts forecast that Centerspace will post 4.83 EPS for the current year.

Centerspace Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 14th. Stockholders of record on Monday, June 29th were given a dividend of $0.77 per share. The ex-dividend date was Monday, June 29th. This represents a $3.08 annualized dividend and a dividend yield of 5.6%. Centerspace’s dividend payout ratio is 684.44%.

Insider Buying and Selling at Centerspace

In other news, Director John A. Schissel purchased 500 shares of the business’s stock in a transaction on Thursday, June 18th. The shares were acquired at an average price of $54.90 per share, with a total value of $27,450.00. Following the completion of the transaction, the director 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Rodney Jones-Tyson purchased 1,700 shares of the business’s stock in a transaction on Monday, June 22nd. The shares were purchased at an average cost of $55.26 per share, for a total transaction 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. The trade was a 27.52% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 0.49% of the company’s stock.

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.