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 bought a new stake in Centerspace (NYSE:CSR - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 4,744 shares of the company's stock, valued at approximately $307,000.

A number of other institutional investors have also added to or reduced their stakes in CSR. Illinois Municipal Retirement Fund boosted its holdings in Centerspace by 2.6% in the first quarter. Illinois Municipal Retirement Fund now owns 8,726 shares of the company's stock worth $565,000 after acquiring an additional 225 shares in the last quarter. California State Teachers Retirement System lifted its holdings in shares of Centerspace by 1.9% in the 4th quarter. California State Teachers Retirement System now owns 14,401 shares of the company's stock worth $953,000 after purchasing an additional 268 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Centerspace by 2.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,790 shares of the company's stock valued at $958,000 after purchasing an additional 287 shares during the period. Hsbc Holdings PLC grew its position in Centerspace by 2.2% in the 1st quarter. Hsbc Holdings PLC now owns 13,863 shares of the company's stock valued at $898,000 after purchasing an additional 294 shares during the period. Finally, Comerica Bank increased its stake in Centerspace by 5.6% during the 4th quarter. Comerica Bank now owns 5,938 shares of the company's stock valued at $393,000 after purchasing an additional 313 shares in the last quarter. 79.00% of the stock is owned by institutional investors and hedge funds.

Centerspace Stock Performance

Centerspace stock traded down $1.02 during mid-day trading on Monday, reaching $57.40. 95,442 shares of the company's stock were exchanged, compared to its average volume of 92,751. The business's fifty day simple moving average is $57.55 and its 200 day simple moving average is $60.35. 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 one year low of $52.76 and a one year high of $75.92. The firm has a market capitalization of $961.96 million, a PE ratio of -31.89 and a beta of 0.75.

Centerspace (NYSE:CSR - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The company reported $1.28 earnings per share (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 firm 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. On average, sell-side analysts expect that Centerspace will post 4.94 earnings per share for the current year.

Centerspace Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Monday, September 29th will be given a $0.77 dividend. The ex-dividend date of this dividend is Monday, September 29th. This represents a $3.08 annualized dividend and a yield of 5.4%. Centerspace's payout ratio is currently -171.11%.

Insiders Place Their Bets

In related news, CEO Anne Olson bought 750 shares of the company's stock in a transaction on Friday, August 8th. The shares were purchased at an average cost of $55.10 per share, for a total transaction of $41,325.00. Following the completion of the purchase, the chief executive officer directly owned 19,496 shares in the company, 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 SEC, which is accessible through this link. Also, Director John A. Schissel bought 500 shares of Centerspace stock in a transaction dated Friday, August 8th. The shares were bought at an average cost of $54.00 per share, with a total value of $27,000.00. Following the completion of the transaction, the director directly owned 14,398 shares in the company, 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. Over the last 90 days, insiders have purchased 1,750 shares of company stock valued at $95,325. Company insiders own 0.44% of the company's stock.

Analyst Ratings Changes

CSR has been the subject of a number of analyst reports. Wells Fargo & Company reduced their price objective on shares of Centerspace from $68.00 to $60.00 and set an "equal weight" rating for the company in a report on Wednesday, August 27th. UBS Group cut their price target on Centerspace from $67.00 to $60.00 and set a "neutral" rating for the company in a research note on Tuesday, July 15th. Finally, Wall Street Zen lowered Centerspace from a "hold" rating to a "sell" rating in a report on Sunday, September 7th. 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's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $68.75.

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.