ABS Investment Management LLC Makes New $1.40 Million Investment in Centerspace $CSR

ABS Investment Management LLC bought a new position in shares of Centerspace (NYSE:CSR - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 25,000 shares of the company's stock, valued at approximately $1,404,750. Centerspace accounts for approximately 0.0% of ABS Investment Management LLC's holdings, making the stock its 29th largest holding. ABS Investment Management LLC owned about 0.15% of Centerspace at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in Centerspace during the 2nd quarter worth approximately $167,912,000. Wellington Management Group LLP boosted its position in Centerspace by 324.4% during the 4th quarter. Wellington Management Group LLP now owns 855,869 shares of the company's stock worth $57,104,000 after buying an additional 654,209 shares during the period. Long Pond Capital LP boosted its position in Centerspace by 108.0% during the 4th quarter. Long Pond Capital LP now owns 444,101 shares of the company's stock worth $29,630,000 after buying an additional 230,638 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Centerspace by 9.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 340,286 shares of the company's stock worth $22,704,000 after buying an additional 28,809 shares during the period. Finally, Voss Capital LP acquired a new stake in Centerspace during the 4th quarter worth approximately $22,068,000. 79.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Centerspace

In other news, Director John A. Schissel bought 500 shares of Centerspace stock in a transaction dated Thursday, June 18th. The stock was purchased at an average price of $54.90 per share, for a total transaction of $27,450.00. Following the purchase, the director directly owned 17,195 shares in the company, valued at $944,005.50. The trade was a 2.99% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Rodney Jones-Tyson purchased 1,700 shares of Centerspace stock in a transaction that occurred on Monday, June 22nd. The shares were bought at an average price of $55.26 per share, with a total value of $93,942.00. Following the transaction, the director owned 7,877 shares of the company's stock, valued at $435,283.02. This trade represents a 27.52% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 0.49% of the company's stock.

Wall Street Analyst Weigh In

CSR has been the subject of a number of recent research reports. Wells Fargo & Company decreased their price target on shares of Centerspace from $70.00 to $60.00 and set an "equal weight" rating for the company in a research note on Wednesday, July 22nd. Zacks Research lowered shares of Centerspace from a "hold" rating to a "strong sell" rating in a research note on Tuesday, August 18th. Weiss Ratings lowered shares of Centerspace from a "hold (c)" rating to a "hold (c-)" rating in a research note on Wednesday, August 19th. UBS Group boosted their price target on shares of Centerspace from $66.00 to $70.00 and gave the company a "neutral" rating in a research note on Thursday, May 14th. Finally, BTIG Research lowered shares of Centerspace from a "buy" rating to a "neutral" rating in a research note on Tuesday, June 16th. One analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $63.40.

Centerspace Stock Performance

NYSE CSR opened at $52.48 on Friday. Centerspace has a 1 year low of $52.43 and a 1 year high of $69.61. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.03 and a quick ratio of 0.03. The firm has a market cap of $881.14 million, a price-to-earnings ratio of 41.65 and a beta of 0.88. The company has a fifty day moving average price of $55.53 and a 200-day moving average price of $60.21.

Centerspace (NYSE:CSR - Get Free Report) last posted its earnings results on Monday, August 3rd. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.06. Centerspace had a net margin of 7.97% and a return on equity of 2.58%. The firm had revenue of $65.78 million during the quarter, compared to analyst estimates of $66.29 million. Centerspace has set its FY 2026 guidance at 4.580-4.680 EPS. As a group, equities research analysts predict that Centerspace will post 4.67 EPS for the current fiscal year.

Centerspace Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 14th. Stockholders of record on Monday, June 29th were paid a $0.77 dividend. The ex-dividend date was Monday, June 29th. This represents a $3.08 annualized dividend and a dividend yield of 5.9%. Centerspace's dividend payout ratio is presently 244.44%.

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.

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