Anne Olson Purchases 750 Shares of Centerspace (NYSE:CSR) Stock

Key Points

• Centerspace CEO Anne Olson purchased 750 shares of the company's stock for a total of $41,325, increasing her ownership to approximately $1.07 million.
• The company reported earnings of $1.28 per share in its latest earnings release, exceeding analysts' expectations, and had revenue of $68.55 million.
• Centerspace recently declared a quarterly dividend of $0.77 per share, yielding 5.7%, despite a current dividend payout ratio of -171.11%.

Centerspace (NYSE:CSR - Get Free Report) CEO Anne Olson bought 750 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The shares were acquired at an average cost of $55.10 per share, for a total transaction of $41,325.00. Following the completion of the acquisition, the chief executive officer directly owned 19,496 shares in the company, valued at $1,074,229.60. The trade was a 4.00% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Centerspace Trading Up 0.7%

Shares of Centerspace stock traded up $0.41 on Friday, hitting $55.37. The stock had a trading volume of 86,626 shares, compared to its average volume of 109,263. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.97. Centerspace has a one year low of $52.76 and a one year high of $76.16. The stock has a market cap of $928.00 million, a price-to-earnings ratio of -30.76 and a beta of 0.72. The stock's 50-day simple moving average is $59.18 and its two-hundred day simple moving average is $61.03.

Centerspace (NYSE:CSR - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The company reported $1.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.26 by $0.02. The business had revenue of $68.55 million for the quarter, compared to analyst estimates of $67.89 million. Centerspace had a negative net margin of 9.13% and a negative return on equity of 2.81%. As a group, sell-side analysts predict that Centerspace will post 4.94 EPS for the current year.

Centerspace Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 10th. Stockholders of record on Friday, June 27th were given a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date was Friday, June 27th. Centerspace's dividend payout ratio (DPR) is currently -171.11%.

Institutional Investors Weigh In On Centerspace

A number of large investors have recently made changes to their positions in CSR. CANADA LIFE ASSURANCE Co boosted its holdings in shares of Centerspace by 5.2% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 38,875 shares of the company's stock valued at $2,337,000 after buying an additional 1,920 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in Centerspace by 64.0% during the second quarter. Tower Research Capital LLC TRC now owns 2,252 shares of the company's stock worth $136,000 after acquiring an additional 879 shares in the last quarter. State of Tennessee Department of Treasury boosted its stake in Centerspace by 3.7% during the second quarter. State of Tennessee Department of Treasury now owns 6,877 shares of the company's stock worth $414,000 after acquiring an additional 247 shares in the last quarter. Tidal Investments LLC boosted its position in shares of Centerspace by 16.5% in the 2nd quarter. Tidal Investments LLC now owns 7,241 shares of the company's stock worth $436,000 after purchasing an additional 1,026 shares in the last quarter. Finally, Bank of America Corp DE boosted its position in shares of Centerspace by 1.6% in the 2nd quarter. Bank of America Corp DE now owns 25,797 shares of the company's stock worth $1,553,000 after purchasing an additional 417 shares in the last quarter. 79.00% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CSR. Royal Bank Of Canada increased their target price on Centerspace from $71.00 to $72.00 and gave the stock an "outperform" rating in a report on Monday, May 5th. Raymond James Financial upgraded Centerspace from an "outperform" rating to a "strong-buy" rating and lifted their target price for the stock from $66.00 to $69.00 in a report on Thursday, May 15th. Wall Street Zen downgraded Centerspace from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. UBS Group dropped their price target on Centerspace from $67.00 to $60.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 15th. Finally, Piper Sandler reduced their price objective on shares of Centerspace from $75.00 to $68.00 and set a "neutral" rating for the company in a research note on Monday, May 5th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $69.75.

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.