Deutsche Bank AG Makes New $1.21 Million Investment in Centerspace $CSR

Key Points

• Deutsche Bank initiated a $1.21 million position in Centerspace, purchasing 21,447 shares and owning approximately 0.13% of the apartment REIT. Institutional investors collectively hold about 79% of the company.
• Analyst sentiment is cautious: Centerspace has a consensus “Hold” rating and an average price target of $63.40, with recent downgrades from BTIG Research and Zacks Research and target-price cuts from RBC and Wells Fargo.
• Centerspace shares opened at $52.48, near their 12-month low of $52.43. The company exceeded quarterly EPS expectations, reporting a loss of $0.07 per share versus the $0.13 expected, though revenue of $65.78 million came in slightly below estimates.

Deutsche Bank AG purchased a new stake in shares of Centerspace (NYSE:CSR - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 21,447 shares of the company's stock, valued at approximately $1,205,000. Deutsche Bank AG owned about 0.13% of Centerspace at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Wellington Management Group LLP boosted its stake in shares of Centerspace by 324.4% in the 4th quarter. Wellington Management Group LLP now owns 855,869 shares of the company's stock valued at $57,104,000 after purchasing an additional 654,209 shares in the last quarter. Long Pond Capital LP grew its stake in shares of Centerspace by 108.0% during the fourth quarter. Long Pond Capital LP now owns 444,101 shares of the company's stock valued at $29,630,000 after buying an additional 230,638 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Centerspace by 9.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 340,286 shares of the company's stock valued at $22,704,000 after buying an additional 28,809 shares during the last quarter. Voss Capital LP purchased a new position in shares of Centerspace in the fourth quarter worth about $22,068,000. Finally, Systematic Financial Management LP increased its holdings in shares of Centerspace by 19.7% in the fourth quarter. Systematic Financial Management LP now owns 305,533 shares of the company's stock worth $20,385,000 after buying an additional 50,350 shares during the period. 79.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CSR shares. BTIG Research cut Centerspace from a "buy" rating to a "neutral" rating in a report on Tuesday, June 16th. Zacks Research cut Centerspace from a "hold" rating to a "strong sell" rating in a research note on Tuesday, August 18th. Royal Bank Of Canada lowered their price objective on Centerspace from $67.00 to $64.00 and set an "outperform" rating for the company in a research report on Wednesday, August 5th. UBS Group increased their price objective on Centerspace from $66.00 to $70.00 and gave the company a "neutral" rating in a research note on Thursday, May 14th. Finally, Wells Fargo & Company cut their target price on shares of Centerspace from $70.00 to $60.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 22nd. One equities research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Centerspace presently has a consensus rating of "Hold" and an average price target of $63.40.

Centerspace Price Performance

Shares of Centerspace stock opened at $52.48 on Monday. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.87. The company's fifty day simple moving average is $55.53 and its two-hundred day simple moving average is $60.19. The company has a market cap of $881.14 million, a P/E ratio of 41.65 and a beta of 0.88. Centerspace has a 12-month low of $52.43 and a 12-month high of $69.61.

Centerspace (NYSE:CSR - Get Free Report) last posted its earnings results on Monday, August 3rd. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.06. Centerspace had a net margin of 7.97% and a return on equity of 2.58%. The firm had revenue of $65.78 million during the quarter, compared to analysts' expectations of $66.29 million. Centerspace has set its FY 2026 guidance at 4.580-4.680 EPS. Research analysts anticipate that Centerspace will post 4.67 EPS for the current year.

Insider Activity at Centerspace

In other news, Director Rodney Jones-Tyson bought 1,700 shares of the stock in a transaction dated Monday, June 22nd. The stock was bought at an average price of $55.26 per share, for a total transaction of $93,942.00. Following the purchase, the director directly owned 7,877 shares in the company, valued at $435,283.02. This trade represents a 27.52% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John A. Schissel purchased 500 shares of the company's stock in a transaction that occurred on Thursday, June 18th. The shares were purchased at an average price of $54.90 per share, for a total transaction of $27,450.00. Following the completion of the transaction, the director directly owned 17,195 shares of the company's stock, valued at $944,005.50. This represents a 2.99% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 0.49% of the company's stock.

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

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