Centerspace (NYSE:CSR) CEO Buys $41,325.00 in 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 business's stock in a transaction that occurred on Friday, August 8th. The shares were purchased at an average price of $55.10 per share, for a total transaction of $41,325.00. Following the completion of the purchase, the chief executive officer directly owned 19,496 shares of the company's stock, valued at approximately $1,074,229.60. This trade represents a 4.00% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

Centerspace Stock Performance

NYSE:CSR traded up $0.13 on Monday, hitting $53.64. The company's stock had a trading volume of 128,757 shares, compared to its average volume of 100,862. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.97. The stock has a fifty day moving average of $60.05 and a two-hundred day moving average of $61.26. The firm has a market capitalization of $898.92 million, a P/E ratio of -29.80 and a beta of 0.72. Centerspace has a one year low of $52.76 and a one year high of $76.16.

Centerspace (NYSE:CSR - Get Free Report) last released its earnings results on Monday, August 4th. The company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.02. Centerspace had a negative return on equity of 2.81% and a negative net margin of 9.13%. The firm had revenue of $68.55 million during the quarter, compared to analysts' expectations of $67.89 million. Research analysts predict that Centerspace will post 4.94 earnings per share for the current year.

Centerspace Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 10th. Shareholders of record on Friday, June 27th were issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date was Friday, June 27th. Centerspace's dividend payout ratio (DPR) is presently -171.11%.

Analysts Set New Price Targets

Several research firms have issued reports on CSR. Royal Bank Of Canada increased their price objective on Centerspace from $71.00 to $72.00 and gave the stock an "outperform" rating in a research report on Monday, May 5th. Raymond James Financial raised Centerspace from an "outperform" rating to a "strong-buy" rating and upped their price target for the company from $66.00 to $69.00 in a research report on Thursday, May 15th. UBS Group decreased their price target on Centerspace from $67.00 to $60.00 and set a "neutral" rating for the company in a research note on Tuesday, July 15th. Piper Sandler reduced their target price on Centerspace from $75.00 to $68.00 and set a "neutral" rating for the company in a report on Monday, May 5th. Finally, Wall Street Zen lowered Centerspace from a "hold" rating to a "sell" rating in a research report on Saturday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $70.78.

Institutional Trading of Centerspace

Large investors have recently made changes to their positions in the company. Illinois Municipal Retirement Fund raised its stake in Centerspace by 2.6% during the first quarter. Illinois Municipal Retirement Fund now owns 8,726 shares of the company's stock worth $565,000 after purchasing an additional 225 shares during the period. Summit Investment Advisors Inc. raised its position in Centerspace by 15.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 1,732 shares of the company's stock worth $115,000 after buying an additional 229 shares during the last quarter. California State Teachers Retirement System grew its stake in shares of Centerspace by 1.9% during the 4th quarter. California State Teachers Retirement System now owns 14,401 shares of the company's stock worth $953,000 after purchasing an additional 268 shares during the period. Capital Square LLC grew its stake in shares of Centerspace by 3.3% during the 2nd quarter. Capital Square LLC now owns 8,367 shares of the company's stock worth $503,000 after purchasing an additional 271 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Centerspace by 2.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,790 shares of the company's stock valued at $958,000 after acquiring an additional 287 shares during the last quarter. 79.00% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.