Centerspace $CSR Shares Newly Acquired by Bank of America Corp DE

Key Points

• Bank of America acquired 18,524 Centerspace shares worth approximately $1.04 million in the second quarter, while institutional investors and hedge funds collectively owned 79% of the company.
• Centerspace reported quarterly EPS of -$0.07, beating estimates of -$0.13, on revenue of $65.78 million. The company declared a quarterly dividend of $0.77 per share, equating to a 5.6% annualized yield.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and a $64 price target; targets ranged from $58 to $80 after several rating and price-target changes.

Bank of America Corp DE purchased a new position in shares of Centerspace (NYSE:CSR - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 18,524 shares of the company's stock, valued at approximately $1,041,000. Bank of America Corp DE owned about 0.11% of Centerspace at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Jupiter Topco LLC acquired a new stake in Centerspace during the 2nd quarter worth approximately $354,000. ABS Investment Management LLC bought a new stake in shares of Centerspace in the 2nd quarter valued at about $1,404,750. Hsbc Holdings PLC bought a new stake in shares of Centerspace in the 2nd quarter valued at about $1,833,000. Legal & General Group Plc acquired a new stake in shares of Centerspace in the second quarter valued at about $5,386,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of Centerspace in the second quarter valued at about $256,000. Institutional investors and hedge funds own 79.00% of the company's stock.

Centerspace Trading Up 0.4%

NYSE:CSR opened at $54.55 on Friday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.03 and a current ratio of 0.03. The firm has a market cap of $915.81 million, a price-to-earnings ratio of 43.29 and a beta of 0.84. Centerspace has a 52 week low of $52.00 and a 52 week high of $69.61. The firm has a 50-day moving average price of $55.03 and a two-hundred day moving average price of $58.85.

Centerspace (NYSE:CSR - Get Free Report) last released its earnings results on Monday, August 3rd. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.06. Centerspace had a return on equity of 2.58% and a net margin of 7.97%.The company 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. On average, equities analysts expect that Centerspace will post 4.67 earnings per share for the current fiscal year.

Centerspace Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 14th. Investors of record on Tuesday, September 29th will be issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 5.6%. The ex-dividend date is Tuesday, September 29th. Centerspace's dividend payout ratio (DPR) is 244.44%.

Analysts Set New Price Targets

Several research firms have issued reports on CSR. UBS Group lowered their price target on shares of Centerspace from $70.00 to $68.00 and set a "neutral" rating for the company in a report on Tuesday, September 15th. Wall Street Zen raised shares of Centerspace from a "sell" rating to a "hold" rating in a research note on Saturday, August 8th. Compass Point upgraded shares of Centerspace from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $64.50 to $80.00 in a research report on Wednesday, September 9th. Piper Sandler lowered their target price on shares of Centerspace from $60.00 to $58.00 and set a "neutral" rating for the company in a research note on Thursday, August 27th. Finally, BTIG Research downgraded shares of Centerspace from a "buy" rating to a "neutral" rating in a research note on Tuesday, June 16th. Two research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $64.00.

About Centerspace

Centerspace NYSE: CSR is a real estate investment trust that owns, operates and manages apartment communities. The company focuses on providing rental housing and generating income through multifamily properties, with operations concentrated in select markets across the Upper Midwest and Mountain West regions of the United States.

Its portfolio includes apartment communities serving a range of residents and household needs. Centerspace is involved in property management, leasing, resident services, maintenance and the ongoing improvement of its communities.

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