Centerspace $CSR Shares Bought 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 raised 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 Securities and Exchange Commission. The institutional investor owned 57,468 shares of the company's stock after buying an additional 35,139 shares during the period. Cbre Investment Management Listed Real Assets LLC owned approximately 0.34% of Centerspace worth $3,721,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. AlphaQuest LLC increased its holdings in Centerspace by 232.5% in the first quarter. AlphaQuest LLC now owns 16,224 shares of the company's stock valued at $1,051,000 after buying an additional 11,344 shares in the last quarter. Martingale Asset Management L P increased its holdings in Centerspace by 12.5% in the first quarter. Martingale Asset Management L P now owns 21,574 shares of the company's stock valued at $1,397,000 after buying an additional 2,394 shares in the last quarter. Hsbc Holdings PLC increased its holdings in Centerspace by 2.2% in the first quarter. Hsbc Holdings PLC now owns 13,863 shares of the company's stock valued at $898,000 after buying an additional 294 shares in the last quarter. Quantbot Technologies LP increased its holdings in Centerspace by 19.1% in the first quarter. Quantbot Technologies LP now owns 8,793 shares of the company's stock valued at $569,000 after buying an additional 1,410 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its stake in shares of Centerspace by 12.0% during the 1st quarter. Russell Investments Group Ltd. now owns 24,764 shares of the company's stock worth $1,603,000 after purchasing an additional 2,649 shares in the last quarter. 79.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on CSR shares. UBS Group reduced their target price on Centerspace from $67.00 to $60.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 15th. Wall Street Zen downgraded Centerspace from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Raymond James Financial raised Centerspace from an "outperform" rating to a "strong-buy" rating and raised their price target for the stock from $66.00 to $69.00 in a research report on Thursday, May 15th. Royal Bank Of Canada raised their price target on Centerspace from $71.00 to $72.00 and gave the stock an "outperform" rating in a research report on Monday, May 5th. Finally, Piper Sandler dropped their price target on Centerspace from $75.00 to $68.00 and set a "neutral" rating for the company in a research report on Monday, May 5th. One investment 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $68.75.

Insider Activity at Centerspace

In other news, CEO Anne Olson bought 750 shares of Centerspace 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 acquisition, the chief executive officer owned 19,496 shares of the company's stock, valued at $1,074,229.60. The trade was a 4.00% increase in their ownership of the stock. 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 bought 500 shares of Centerspace stock in a transaction that occurred on Friday, August 8th. The stock was purchased at an average price of $54.00 per share, for a total transaction of $27,000.00. Following the acquisition, the director directly owned 14,398 shares of the company's stock, valued at $777,492. The trade was a 3.60% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 1,750 shares of company stock worth $95,325. 0.44% of the stock is owned by insiders.

Centerspace Trading Up 1.6%

Shares of NYSE:CSR traded up $0.94 during midday trading on Wednesday, reaching $58.29. The company's stock had a trading volume of 76,450 shares, compared to its average volume of 100,724. The firm has a market cap of $976.86 million, a price-to-earnings ratio of -32.38 and a beta of 0.72. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.97. Centerspace has a 1 year low of $52.76 and a 1 year high of $76.16. The business has a 50 day moving average price of $58.20 and a 200 day moving average price of $60.81.

Centerspace (NYSE:CSR - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The company reported $1.28 EPS for the quarter, beating 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 business 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. Research analysts forecast that Centerspace will post 4.94 EPS for the current year.

Centerspace Announces Dividend

The company 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. The ex-dividend date was Friday, June 27th. This represents a $3.08 dividend on an annualized basis and a yield of 5.3%. Centerspace's dividend payout ratio (DPR) is presently -171.11%.

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.