AlphaQuest LLC Has $1.05 Million Stock Position in Centerspace $CSR

Key Points

• AlphaQuest LLC significantly increased its stake in Centerspace by 232.5% in the 1st quarter, now holding approximately 16,224 shares valued at over $1 million.
• Centerspace reported quarterly earnings of $1.28 EPS, exceeding analysts' estimates, and announced a dividend of $0.77 per share, yielding 5.3% annually.
• The stock is currently rated as a "Moderate Buy" by analysts, with a consensus price target of $69.75, reflecting mixed ratings from different firms.

AlphaQuest LLC lifted its position in Centerspace (NYSE:CSR - Free Report) by 232.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,224 shares of the company's stock after purchasing an additional 11,344 shares during the quarter. AlphaQuest LLC owned 0.10% of Centerspace worth $1,051,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Centerspace by 0.3% in the first quarter. Vanguard Group Inc. now owns 2,603,360 shares of the company's stock valued at $168,568,000 after purchasing an additional 8,994 shares in the last quarter. Silvercrest Asset Management Group LLC raised its stake in Centerspace by 6.9% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 834,251 shares of the company's stock worth $55,186,000 after acquiring an additional 54,204 shares in the last quarter. Northern Trust Corp raised its stake in Centerspace by 28.5% during the fourth quarter. Northern Trust Corp now owns 230,816 shares of the company's stock worth $15,268,000 after acquiring an additional 51,259 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Centerspace by 1.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 224,596 shares of the company's stock worth $14,856,000 after acquiring an additional 3,111 shares in the last quarter. Finally, Nuveen LLC acquired a new position in Centerspace during the first quarter worth $13,147,000. 79.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on CSR shares. Raymond James Financial upgraded Centerspace from an "outperform" rating to a "strong-buy" rating and increased their price objective for the stock from $66.00 to $69.00 in a research note on Thursday, May 15th. 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 note on Monday, May 5th. UBS Group dropped their price objective on Centerspace from $67.00 to $60.00 and set a "neutral" rating for the company in a research note on Tuesday, July 15th. Wells Fargo & Company dropped their price objective on Centerspace from $68.00 to $60.00 and set an "equal weight" rating for the company in a research note on Wednesday. Finally, Wall Street Zen lowered Centerspace from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $68.75.

Insider Activity

In related news, Director John A. Schissel purchased 500 shares of the stock in a transaction on Friday, August 8th. The shares were purchased at an average price of $54.00 per share, with a total value of $27,000.00. Following the transaction, the director directly owned 14,398 shares of the company's stock, valued at $777,492. This trade represents a 3.60% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Anne Olson purchased 750 shares of the stock in a transaction on Friday, August 8th. The shares were bought at an average cost of $55.10 per share, for a total transaction of $41,325.00. Following the transaction, the chief executive officer directly owned 19,496 shares in the company, valued at approximately $1,074,229.60. The trade was a 4.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 1,750 shares of company stock worth $95,325 in the last 90 days. Corporate insiders own 0.44% of the company's stock.

Centerspace Price Performance

Shares of CSR stock traded up $0.58 during trading hours on Friday, hitting $59.30. 20,722 shares of the company's stock were exchanged, compared to its average volume of 100,056. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.05 and a quick ratio of 0.05. Centerspace has a 52 week low of $52.76 and a 52 week high of $76.16. The stock has a market cap of $993.61 million, a price-to-earnings ratio of -32.95 and a beta of 0.72. The stock's 50-day moving average is $58.04 and its 200-day moving average is $60.78.

Centerspace (NYSE:CSR - Get Free Report) last issued its 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. 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 for the quarter, compared to analysts' expectations of $67.89 million. Centerspace has set its FY 2025 guidance at 4.880-5.000 EPS. As a group, research analysts forecast 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 issued a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 5.2%. The ex-dividend date was Friday, June 27th. Centerspace's payout ratio is -171.11%.

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.