Centerspace $CSR Stock Holdings Lessened by Strs Ohio

Key Points

• Strs Ohio sharply reduced its Centerspace stake, cutting holdings by 89.6% in the first quarter and selling 25,000 shares, leaving it with 2,900 shares valued at about $167,000.
• Centerspace insiders bought shares: Director Rodney Jones-Tyson purchased 1,700 shares and Director John A. Schissel bought 500 shares in June, signaling some insider confidence.
• The company missed earnings expectations, reporting a quarterly loss of $0.77 per share versus estimates for a $0.29 loss, while also maintaining a quarterly dividend of $0.77 per share for a 5.5% yield.

Strs Ohio lowered its stake in shares of Centerspace (NYSE:CSR - Free Report) by 89.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,900 shares of the company's stock after selling 25,000 shares during the period. Strs Ohio's holdings in Centerspace were worth $167,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Covestor Ltd grew its stake in shares of Centerspace by 57,100.0% in the 4th quarter. Covestor Ltd now owns 572 shares of the company's stock valued at $38,000 after buying an additional 571 shares in the last quarter. Danske Bank A S bought a new position in Centerspace during the fourth quarter valued at approximately $47,000. Kestra Advisory Services LLC bought a new position in Centerspace during the fourth quarter valued at approximately $58,000. GAMMA Investing LLC lifted its stake in Centerspace by 107.0% in the fourth quarter. GAMMA Investing LLC now owns 942 shares of the company's stock valued at $63,000 after acquiring an additional 487 shares during the last quarter. Finally, Federation des caisses Desjardins du Quebec lifted its stake in Centerspace by 26.5% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 1,337 shares of the company's stock valued at $89,000 after acquiring an additional 280 shares during the last quarter. 79.00% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Centerspace

In related news, Director Rodney Jones-Tyson acquired 1,700 shares of the stock in a transaction dated Monday, June 22nd. The shares were acquired at an average price of $55.26 per share, for a total transaction of $93,942.00. Following the completion of the purchase, the director owned 7,877 shares in the company, valued at approximately $435,283.02. The trade was a 27.52% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John A. Schissel bought 500 shares of the company's stock in a transaction that occurred on Thursday, June 18th. The shares were bought at an average cost of $54.90 per share, for a total transaction of $27,450.00. Following the transaction, the director directly owned 17,195 shares of the company's stock, valued at $944,005.50. This trade represents a 2.99% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.49% of the stock is currently owned by corporate insiders.

Centerspace Stock Performance

Shares of NYSE:CSR opened at $55.57 on Monday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.03 and a current ratio of 0.03. The stock's 50-day moving average is $61.43 and its 200-day moving average is $62.71. The company has a market cap of $933.74 million, a P/E ratio of 123.49 and a beta of 0.89. Centerspace has a 52-week low of $52.76 and a 52-week high of $69.61.

Centerspace (NYSE:CSR - Get Free Report) last posted its quarterly earnings data on Monday, May 4th. The company reported ($0.77) earnings per share for the quarter, missing the consensus estimate of ($0.29) by ($0.48). Centerspace had a return on equity of 0.94% and a net margin of 2.93%.The business had revenue of $65.07 million for the quarter, compared to analyst estimates of $66.54 million. Centerspace has set its FY 2026 guidance at 4.810-5.050 EPS. Equities research analysts predict that Centerspace will post 4.85 earnings per share for the current year.

Centerspace Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders of record on Monday, June 29th will be given a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 5.5%. The ex-dividend date of this dividend is Monday, June 29th. Centerspace's dividend payout ratio is currently 684.44%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on CSR shares. Weiss Ratings downgraded shares of Centerspace from a "hold (c)" rating to a "hold (c-)" rating in a report on Wednesday, June 17th. UBS Group upped their price objective on shares of Centerspace from $66.00 to $70.00 and gave the stock a "neutral" rating in a report on Thursday, May 14th. Royal Bank Of Canada lowered their target price on shares of Centerspace from $71.00 to $67.00 and set an "outperform" rating on the stock in a research report on Friday, June 5th. Piper Sandler upgraded Centerspace from a "neutral" rating to an "overweight" rating and raised their target price for the company from $69.00 to $72.00 in a report on Tuesday, April 7th. Finally, BTIG Research cut Centerspace from a "buy" rating to a "neutral" rating in a research report on Tuesday, June 16th. Two equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat.com, Centerspace currently has a consensus rating of "Hold" and a consensus price target of $68.80.

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. Centerspace was named a Top Workplace for the fourth consecutive year in 2023 by the Minneapolis Star Tribune.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.