AlphaQuest LLC Boosts Holdings 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 raised its holdings in shares of Centerspace (NYSE:CSR - Free Report) by 232.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,224 shares of the company's stock after acquiring an additional 11,344 shares during the quarter. AlphaQuest LLC owned approximately 0.10% of Centerspace worth $1,051,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Illinois Municipal Retirement Fund increased its holdings in Centerspace by 2.6% during the 1st quarter. Illinois Municipal Retirement Fund now owns 8,726 shares of the company's stock valued at $565,000 after acquiring an additional 225 shares in the last quarter. Deutsche Bank AG grew its holdings in shares of Centerspace by 28.5% during the fourth quarter. Deutsche Bank AG now owns 19,400 shares of the company's stock worth $1,283,000 after buying an additional 4,301 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Centerspace by 21.9% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 24,322 shares of the company's stock worth $1,575,000 after buying an additional 4,369 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of Centerspace by 24.0% during the fourth quarter. Bank of America Corp DE now owns 29,488 shares of the company's stock worth $1,951,000 after buying an additional 5,702 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Centerspace by 7,022.7% during the first quarter. GAMMA Investing LLC now owns 18,519 shares of the company's stock worth $1,199,000 after buying an additional 18,259 shares in the last quarter. 79.00% of the stock is currently owned by hedge funds and other institutional investors.

Centerspace Price Performance

Centerspace stock opened at $58.1660 on Friday. Centerspace has a 1 year low of $52.76 and a 1 year high of $76.16. The firm has a 50 day moving average price of $58.40 and a 200 day moving average price of $60.88. The company has a market cap of $974.86 million, a price-to-earnings ratio of -32.31 and a beta of 0.72. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.05 and a current ratio of 0.05.

Centerspace (NYSE:CSR - Get Free Report) last released its earnings results on Monday, August 4th. The company reported $1.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.26 by $0.02. Centerspace had a negative net margin of 9.13% and a negative return on equity of 2.81%. The firm had revenue of $68.55 million during the quarter, compared to the consensus estimate of $67.89 million. Centerspace has set its FY 2025 guidance at 4.880-5.000 EPS. Sell-side analysts predict that Centerspace will post 4.94 earnings per share for the current year.

Centerspace Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 10th. Investors of record on Friday, June 27th were issued a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 5.3%. The ex-dividend date was Friday, June 27th. Centerspace's payout ratio is presently -171.11%.

Insider Activity at Centerspace

In other Centerspace news, CFO Bhairav Patel purchased 500 shares of Centerspace stock in a transaction on Friday, August 8th. The shares were purchased at an average cost of $54.00 per share, with a total value of $27,000.00. Following the completion of the transaction, the chief financial officer directly owned 3,733 shares in the company, valued at approximately $201,582. This represents a 15.47% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John A. Schissel acquired 500 shares of the firm's stock in a transaction on Friday, August 8th. The shares were acquired at an average price of $54.00 per share, with a total value of $27,000.00. Following the completion of the purchase, the director 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 disclosure for this purchase can be found here. Over the last three months, insiders purchased 1,750 shares of company stock worth $95,325. 0.44% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Raymond James Financial upgraded shares of Centerspace from an "outperform" rating to a "strong-buy" rating and lifted their price target for the stock from $66.00 to $69.00 in a report on Thursday, May 15th. UBS Group lowered their price target on shares of Centerspace from $67.00 to $60.00 and set a "neutral" rating for the company in a report on Tuesday, July 15th. Piper Sandler lowered their price target on shares of Centerspace from $75.00 to $68.00 and set a "neutral" rating for the company in a report on Monday, May 5th. Royal Bank Of Canada lifted their price target on shares of Centerspace from $71.00 to $72.00 and gave the stock an "outperform" rating in a report on Monday, May 5th. Finally, Wall Street Zen downgraded shares of Centerspace from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Centerspace has an average rating of "Moderate Buy" and a consensus price target of $69.75.

Centerspace 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.

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