HighTower Advisors LLC Takes Position in Centerspace $CSR

HighTower Advisors LLC bought a new position in Centerspace (NYSE:CSR - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 4,952 shares of the company's stock, valued at approximately $321,000.

Other institutional investors and hedge funds have also modified their holdings of the company. New Age Alpha Advisors LLC bought a new stake in shares of Centerspace in the 1st quarter worth $86,000. First Trust Advisors LP bought a new stake in shares of Centerspace in the fourth quarter worth $223,000. Graham Capital Management L.P. bought a new stake in shares of Centerspace in the fourth quarter worth $227,000. Captrust Financial Advisors grew its holdings in shares of Centerspace by 14.0% in the fourth quarter. Captrust Financial Advisors now owns 3,780 shares of the company's stock worth $250,000 after acquiring an additional 464 shares during the period. Finally, Arizona State Retirement System grew its holdings in shares of Centerspace by 7.0% in the first quarter. Arizona State Retirement System now owns 4,753 shares of the company's stock worth $308,000 after acquiring an additional 313 shares during the period. Institutional investors own 79.00% of the company's stock.

Centerspace Price Performance

Shares of Centerspace stock traded up $0.44 during trading hours on Wednesday, hitting $58.78. The company's stock had a trading volume of 96,930 shares, compared to its average volume of 98,960. The business has a 50 day moving average price of $57.79 and a two-hundred day moving average price of $60.70. Centerspace has a 12-month low of $52.76 and a 12-month high of $76.16. The company has a market cap of $985.14 million, a PE ratio of -32.65 and a beta of 0.75. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.05 and a current ratio of 0.05.

Centerspace (NYSE:CSR - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The company reported $1.28 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $67.89 million. Centerspace has set its FY 2025 guidance at 4.880-5.000 EPS. Analysts expect that Centerspace will post 4.94 earnings per share for the current fiscal year.

Centerspace Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Monday, September 29th will be issued a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 5.2%. The ex-dividend date of this dividend is Monday, September 29th. Centerspace's payout ratio is -171.11%.

Insiders Place Their Bets

In related news, CEO Anne Olson acquired 750 shares of Centerspace stock in a transaction on Friday, August 8th. The shares were bought at an average cost of $55.10 per share, with a total value of $41,325.00. Following the completion of the purchase, the chief executive officer directly owned 19,496 shares of the company's stock, valued at $1,074,229.60. The trade was a 4.00% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Bhairav Patel acquired 500 shares of Centerspace stock in a transaction on Friday, August 8th. The shares were bought at an average cost of $54.00 per share, for a total transaction of $27,000.00. Following the completion of the purchase, the chief financial officer directly owned 3,733 shares of the company's stock, valued at $201,582. The trade was a 15.47% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 1,750 shares of company stock valued at $95,325 over the last ninety days. 0.44% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

CSR has been the subject of several research analyst reports. Wall Street Zen raised Centerspace from a "sell" rating to a "hold" rating in a report on Saturday. Raymond James Financial raised Centerspace from an "outperform" rating to a "strong-buy" rating and lifted their price objective for the stock from $66.00 to $69.00 in a report on Thursday, May 15th. Wells Fargo & Company cut their price objective on Centerspace from $68.00 to $60.00 and set an "equal weight" rating for the company in a report on Wednesday, August 27th. Finally, UBS Group cut their price objective on Centerspace from $67.00 to $60.00 and set a "neutral" rating for the company in a report 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 issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $68.75.

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.