Graham Capital Management L.P. Purchases 4,411 Shares of Centerspace $CSR

Key Points

• Graham Capital Management L.P. increased its stake in Centerspace by 128.3%, now holding 7,850 shares valued at $508,000.
• Centerspace's recent quarterly earnings surpassed expectations, reporting $1.28 earnings per share, exceeding analysts' forecast of $1.26.
• The company will pay a quarterly dividend of $0.77 per share on October 10, representing an annualized yield of 5.1%.

Graham Capital Management L.P. grew its stake in shares of Centerspace (NYSE:CSR - Free Report) by 128.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,850 shares of the company's stock after purchasing an additional 4,411 shares during the quarter. Graham Capital Management L.P.'s holdings in Centerspace were worth $508,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Cbre Investment Management Listed Real Assets LLC boosted its stake in shares of Centerspace by 157.4% during the first quarter. Cbre Investment Management Listed Real Assets LLC now owns 57,468 shares of the company's stock valued at $3,721,000 after purchasing an additional 35,139 shares during the period. AlphaQuest LLC boosted its stake in shares of Centerspace by 232.5% during the first quarter. AlphaQuest LLC now owns 16,224 shares of the company's stock valued at $1,051,000 after purchasing an additional 11,344 shares during the period. Martingale Asset Management L P boosted its stake in shares of Centerspace by 12.5% during the first quarter. Martingale Asset Management L P now owns 21,574 shares of the company's stock valued at $1,397,000 after purchasing an additional 2,394 shares during the period. Hsbc Holdings PLC boosted its stake in shares of Centerspace by 2.2% during the first 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, Quantbot Technologies LP boosted its stake in shares of Centerspace by 19.1% during the first quarter. Quantbot Technologies LP now owns 8,793 shares of the company's stock valued at $569,000 after purchasing an additional 1,410 shares during the period. 79.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CSR. UBS Group lowered their target price on shares of Centerspace from $67.00 to $60.00 and set a "neutral" rating for the company in a research note on Tuesday, July 15th. Wall Street Zen lowered shares of Centerspace from a "hold" rating to a "sell" rating in a research note on Sunday, September 7th. Raymond James Financial raised shares of Centerspace from an "outperform" rating to a "strong-buy" rating and boosted their target price for the company from $66.00 to $69.00 in a research note on Thursday, May 15th. Finally, Wells Fargo & Company lowered their price objective on shares of Centerspace from $68.00 to $60.00 and set an "equal weight" rating for the company in a research note on Wednesday, August 27th. One research 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 company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $68.75.

Centerspace Stock Down 1.3%

NYSE:CSR traded down $0.76 during mid-day trading on Friday, reaching $58.46. The company's stock had a trading volume of 58,358 shares, compared to its average volume of 94,165. Centerspace has a 1 year low of $52.76 and a 1 year high of $75.92. The stock has a fifty day moving average of $57.61 and a 200-day moving average of $60.48. The firm has a market capitalization of $979.82 million, a PE ratio of -32.48 and a beta of 0.75. 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 (NYSE:CSR - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The company reported $1.28 earnings per share for the quarter, topping analysts' consensus estimates of $1.26 by $0.02. The company had revenue of $68.55 million during the quarter, compared to analyst estimates of $67.89 million. Centerspace had a negative net margin of 9.13% and a negative return on equity of 2.81%. Centerspace has set its FY 2025 guidance at 4.880-5.000 EPS. Equities research analysts forecast that Centerspace will post 4.94 earnings per share for the current year.

Centerspace Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Monday, September 29th will be issued a $0.77 dividend. The ex-dividend date is Monday, September 29th. This represents a $3.08 dividend on an annualized basis and a yield of 5.3%. Centerspace's payout ratio is currently -171.11%.

Insiders Place Their Bets

In other news, CFO Bhairav Patel bought 500 shares of Centerspace stock in a transaction on Friday, August 8th. The stock was acquired at an average cost of $54.00 per share, for a total transaction of $27,000.00. Following the completion of the acquisition, the chief financial officer owned 3,733 shares of the company's stock, valued at $201,582. This trade represents a 15.47% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John A. Schissel bought 500 shares of Centerspace stock in a transaction on Friday, August 8th. The stock was purchased at an average price of $54.00 per share, with a total value of $27,000.00. Following the completion of the acquisition, the director directly owned 14,398 shares of the company's stock, valued at $777,492. This represents a 3.60% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 1,750 shares of company stock worth $95,325. 0.44% of the stock is owned by corporate insiders.

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.