Dynamic Technology Lab Private Ltd Invests $307,000 in Centerspace $CSR

Key Points

• Dynamic Technology Lab Private Ltd has acquired a new stake in Centerspace, purchasing 4,744 shares valued at approximately $307,000.
• Centerspace's stock has seen a decline of 1.3%, currently trading at $58.46, with analysts lowering price targets amid mixed ratings and predictions for the company's future performance.
• The company has announced a quarterly dividend of $0.77, indicating a robust annualized yield of 5.3%, despite a negative payout ratio of -171.11%.

Dynamic Technology Lab Private Ltd acquired a new stake in shares of Centerspace (NYSE:CSR - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 4,744 shares of the company's stock, valued at approximately $307,000.

Several other large investors also recently added to or reduced their stakes in the stock. Nuveen LLC purchased a new stake in shares of Centerspace in the first quarter valued at approximately $13,147,000. Millennium Management LLC increased its holdings in Centerspace by 307.3% during the 1st quarter. Millennium Management LLC now owns 184,051 shares of the company's stock worth $11,917,000 after purchasing an additional 138,861 shares during the period. Allianz Asset Management GmbH bought a new stake in Centerspace during the 1st quarter valued at $6,388,000. Silvercrest Asset Management Group LLC lifted its holdings in shares of Centerspace by 6.9% in the 4th quarter. Silvercrest Asset Management Group LLC now owns 834,251 shares of the company's stock worth $55,186,000 after buying an additional 54,204 shares during the period. Finally, Cbre Investment Management Listed Real Assets LLC lifted its holdings in shares of Centerspace by 157.4% in the 1st quarter. Cbre Investment Management Listed Real Assets LLC now owns 57,468 shares of the company's stock worth $3,721,000 after buying an additional 35,139 shares during the period. 79.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CSR. Wall Street Zen downgraded shares of Centerspace from a "hold" rating to a "sell" rating in a research note on Sunday, September 7th. Wells Fargo & Company cut their price target on Centerspace from $68.00 to $60.00 and set an "equal weight" rating on the stock in a report on Wednesday, August 27th. Finally, UBS Group decreased their price objective on Centerspace from $67.00 to $60.00 and set a "neutral" rating for the company in a research note on Tuesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $68.75.

Centerspace Stock Performance

CSR traded up $0.94 on Thursday, reaching $58.25. 111,707 shares of the stock were exchanged, compared to its average volume of 91,678. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.05 and a quick ratio of 0.05. The company's 50-day moving average price is $57.39 and its 200 day moving average price is $60.26. The firm has a market capitalization of $976.32 million, a PE ratio of -32.36 and a beta of 0.75. Centerspace has a fifty-two week low of $52.76 and a fifty-two week high of $75.92.

Centerspace (NYSE:CSR - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The company reported $1.28 earnings per share 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 for the quarter, compared to analyst estimates of $67.89 million. Centerspace has set its FY 2025 guidance at 4.880-5.000 EPS. As a group, sell-side analysts forecast that Centerspace will post 4.94 EPS for the current fiscal year.

Centerspace Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Monday, September 29th will be given a dividend of $0.77 per share. The ex-dividend date of this dividend is Monday, September 29th. This represents a $3.08 dividend on an annualized basis and a yield of 5.3%. Centerspace's dividend payout ratio (DPR) is currently -171.11%.

Insider Buying and Selling at Centerspace

In other Centerspace news, CEO Anne Olson acquired 750 shares of the firm's stock in a transaction on Friday, August 8th. The stock was acquired at an average cost of $55.10 per share, for a total transaction of $41,325.00. Following the purchase, the chief executive officer owned 19,496 shares in the company, valued at approximately $1,074,229.60. The trade was a 4.00% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John A. Schissel acquired 500 shares of the business's stock in a transaction dated Friday, August 8th. The stock was acquired at an average price of $54.00 per share, for a total transaction of $27,000.00. Following the purchase, the director directly owned 14,398 shares of the company's stock, valued at approximately $777,492. This trade represents a 3.60% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 1,750 shares of company stock worth $95,325. Company insiders own 0.44% 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.