Centerspace $CSR Position Increased by Cbre Investment Management Listed Real Assets LLC

Key Points

• Cbre Investment Management Listed Real Assets LLC has increased its stake in Centerspace by 157.4%, acquiring an additional 35,139 shares, bringing its total ownership to 57,468 shares valued at approximately $3.72 million.
• Wall Street analysts have mixed views on Centerspace, with Raymond James upgrading its rating to "strong-buy" and raising the price target to $69, while Wall Street Zen downgraded it to "sell".
• Centerspace recently announced a quarterly dividend of $0.77, reflecting an annualized yield of 5.3%, despite a significant negative dividend payout ratio of -171.11%.

Cbre Investment Management Listed Real Assets LLC boosted its stake in Centerspace (NYSE:CSR - Free Report) by 157.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 57,468 shares of the company's stock after purchasing an additional 35,139 shares during the quarter. Cbre Investment Management Listed Real Assets LLC owned about 0.34% of Centerspace worth $3,721,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Sterling Capital Management LLC grew its holdings in Centerspace by 903.8% in the fourth quarter. Sterling Capital Management LLC now owns 522 shares of the company's stock valued at $35,000 after purchasing an additional 470 shares during the period. New Age Alpha Advisors LLC purchased a new stake in Centerspace in the first quarter valued at approximately $86,000. First Trust Advisors LP purchased a new stake in Centerspace in the fourth quarter valued at approximately $223,000. Graham Capital Management L.P. purchased a new stake in Centerspace in the fourth quarter valued at approximately $227,000. Finally, Captrust Financial Advisors grew its holdings in Centerspace by 14.0% in the fourth quarter. Captrust Financial Advisors now owns 3,780 shares of the company's stock valued at $250,000 after purchasing an additional 464 shares during the period. 79.00% of the stock is currently owned by hedge funds and other institutional investors.

Centerspace Stock Down 0.1%

Shares of NYSE CSR traded down $0.05 during trading on Thursday, reaching $58.15. 21,378 shares of the stock were exchanged, compared to its average volume of 100,233. The business's 50-day moving average price is $58.11 and its 200 day moving average price is $60.80. Centerspace has a twelve month low of $52.76 and a twelve month high of $76.16. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.97. The company has a market capitalization of $974.59 million, a price-to-earnings ratio of -32.31 and a beta of 0.72.

Centerspace (NYSE:CSR - Get Free Report) last posted its earnings results on Monday, August 4th. The company reported $1.28 EPS for the quarter, topping 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 business 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, equities analysts forecast that Centerspace will post 4.94 EPS for the current fiscal year.

Centerspace Dividend Announcement

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

Insider Activity at Centerspace

In related news, CFO Bhairav Patel purchased 500 shares of the business's stock in a transaction that occurred 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 acquisition, the chief financial officer directly owned 3,733 shares of the company's stock, valued at approximately $201,582. The trade was a 15.47% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Anne Olson purchased 750 shares of the business's stock in a transaction that occurred on Friday, August 8th. The stock was bought 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 of the company's stock, valued at $1,074,229.60. This represents a 4.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 1,750 shares of company stock valued at $95,325 over the last ninety days. Corporate insiders own 0.44% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. UBS Group decreased their price objective on shares of Centerspace from $67.00 to $60.00 and set a "neutral" rating for the company in a research note on Tuesday, July 15th. Wall Street Zen lowered shares of Centerspace from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Raymond James Financial upgraded Centerspace from an "outperform" rating to a "strong-buy" rating and increased their price target for the company from $66.00 to $69.00 in a report on Thursday, May 15th. Royal Bank Of Canada increased their price target on Centerspace from $71.00 to $72.00 and gave the company an "outperform" rating in a report on Monday, May 5th. Finally, Wells Fargo & Company lowered their price target on Centerspace from $68.00 to $60.00 and set an "equal weight" rating for the company in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, Centerspace has an average rating of "Moderate Buy" and a consensus price target of $68.75.

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.