Centerspace (NYSE:CSR) Director John Schissel Acquires 500 Shares

Centerspace (NYSE:CSR) Director John Schissel acquired 500 shares of the company’s stock in a transaction dated Thursday, June 18th. The stock was acquired at an average cost of $54.90 per share, for a total transaction of $27,450.00. Following the completion of the acquisition, the director directly owned 17,195 shares in the company, valued at approximately $944,005.50. The trade was a 2.99% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink.

Centerspace Stock Performance

Shares of Centerspace stock traded up $0.81 during trading on Tuesday, hitting $56.15. 53,475 shares of the company’s stock were exchanged, compared to its average volume of 137,387. The stock has a market capitalization of $943.24 million, a price-to-earnings ratio of 124.76 and a beta of 0.88. The business has a 50-day simple moving average of $63.84 and a 200-day simple moving average of $63.49. Centerspace has a 52-week low of $52.76 and a 52-week high of $69.61. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.03 and a current ratio of 0.03.

Centerspace (NYSE:CSR) last posted its quarterly earnings results on Monday, May 4th. The company reported ($0.77) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.48). The business had revenue of $65.07 million during the quarter, compared to analysts’ expectations of $66.54 million. Centerspace had a net margin of 2.93% and a return on equity of 0.94%. Centerspace has set its FY 2026 guidance at 4.810-5.050 EPS. On average, research analysts forecast that Centerspace will post 4.85 EPS for the current year.

Centerspace Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders of record on Monday, June 29th will be issued a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 5.5%. The ex-dividend date of this dividend is Monday, June 29th. Centerspace’s payout ratio is 684.44%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Piper Sandler raised Centerspace from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $69.00 to $72.00 in a research note on Tuesday, April 7th. Weiss Ratings lowered shares of Centerspace from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, June 17th. BTIG Research lowered shares of Centerspace from a “buy” rating to a “neutral” rating in a report on Tuesday, June 16th. Royal Bank Of Canada reduced their price objective on shares of Centerspace from $71.00 to $67.00 and set an “outperform” rating for the company in a research report on Friday, June 5th. Finally, Wall Street Zen raised shares of Centerspace from a “strong sell” rating to a “sell” rating in a report on Sunday, May 17th. Two investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, Centerspace currently has an average rating of “Hold” and an average price target of $68.80.

Hedge Funds Weigh In On Centerspace

A number of hedge funds have recently made changes to their positions in the company. Sound Income Strategies LLC lifted its position in shares of Centerspace by 67.4% in the first quarter. Sound Income Strategies LLC now owns 626 shares of the company’s stock valued at $36,000 after acquiring an additional 252 shares in the last quarter. Covestor Ltd increased its position 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 purchasing an additional 571 shares in the last quarter. Avalon Trust Co raised its stake in Centerspace by 36.3% in the 1st quarter. Avalon Trust Co now owns 709 shares of the company’s stock valued at $41,000 after purchasing an additional 189 shares during the last quarter. Danske Bank A S acquired a new position in Centerspace in the 4th quarter valued at $47,000. Finally, Kestra Advisory Services LLC purchased a new position in Centerspace in the 4th quarter valued at $58,000. Institutional investors and hedge funds own 79.00% of the company’s stock.

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.