Legal & General Group Plc Invests $5.39 Million in Centerspace $CSR

Key Points

• Legal & General Group Plc acquired a new $5.39 million stake in Centerspace, purchasing 95,849 shares and owning approximately 0.57% of the apartment real estate investment trust. Institutional investors collectively hold 79% of the stock.
• Centerspace reported quarterly EPS of negative $0.07, beating the $0.13 loss analysts expected, while revenue of $65.78 million fell slightly short of estimates. The company maintained fiscal 2026 EPS guidance of $4.58 to $4.68.
• The company declared a quarterly dividend of $0.77, or $3.08 annually, representing a 5.9% yield. However, analyst sentiment remains cautious, with a consensus “Hold” rating and a $62.80 target price as shares traded near their 12-month low.

Legal & General Group Plc acquired a new stake in shares of Centerspace (NYSE:CSR - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 95,849 shares of the company's stock, valued at approximately $5,386,000. Legal & General Group Plc owned approximately 0.57% of Centerspace at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Sound Income Strategies LLC grew its position in shares of Centerspace by 67.4% during the 1st quarter. Sound Income Strategies LLC now owns 626 shares of the company's stock valued at $36,000 after purchasing an additional 252 shares in the last quarter. Covestor Ltd increased its stake in Centerspace by 57,100.0% in the 4th quarter. Covestor Ltd now owns 572 shares of the company's stock worth $38,000 after acquiring an additional 571 shares during the last quarter. Avalon Trust Co raised its holdings in shares of Centerspace by 36.3% in the 1st quarter. Avalon Trust Co now owns 709 shares of the company's stock valued at $41,000 after acquiring an additional 189 shares in the last quarter. Danske Bank A S bought a new stake in shares of Centerspace during the 4th quarter valued at about $47,000. Finally, Kestra Advisory Services LLC bought a new position in shares of Centerspace in the fourth quarter worth approximately $58,000. 79.00% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Centerspace

In other news, Director Rodney Jones-Tyson acquired 1,700 shares of the stock in a transaction dated Monday, June 22nd. The stock was purchased at an average cost of $55.26 per share, with a total value of $93,942.00. Following the completion of the purchase, the director owned 7,877 shares in the company, valued at approximately $435,283.02. The trade was a 27.52% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John A. Schissel acquired 500 shares of the stock in a transaction dated Thursday, June 18th. The shares were purchased at an average cost of $54.90 per share, with a total value of $27,450.00. Following the completion of the purchase, the director owned 17,195 shares of the company's stock, valued at approximately $944,005.50. The trade was a 2.99% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.49% of the stock is owned by insiders.

Centerspace Stock Down 1.0%

Shares of NYSE:CSR opened at $52.27 on Friday. The stock has a market capitalization of $877.61 million, a P/E ratio of 41.48 and a beta of 0.86. The stock's 50-day moving average price is $55.21 and its 200-day moving average price is $59.86. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.87. Centerspace has a 12-month low of $52.02 and a 12-month high of $69.61.

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

Centerspace Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 14th. Stockholders of record on Tuesday, September 29th will be issued a $0.77 dividend. The ex-dividend date is Tuesday, September 29th. This represents a $3.08 annualized dividend and a dividend yield of 5.9%. Centerspace's dividend payout ratio (DPR) is currently 244.44%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on CSR shares. Zacks Research downgraded Centerspace from a "hold" rating to a "strong sell" rating in a research report on Tuesday, August 18th. Wells Fargo & Company reduced their price objective on Centerspace from $60.00 to $57.00 and set an "equal weight" rating on the stock in a research report on Tuesday. Royal Bank Of Canada decreased their price objective on Centerspace from $67.00 to $64.00 and set an "outperform" rating on the stock in a report on Wednesday, August 5th. Weiss Ratings downgraded Centerspace from a "hold (c)" rating to a "hold (c-)" rating in a research report on Wednesday, August 19th. Finally, UBS Group increased their price target on shares of Centerspace from $66.00 to $70.00 and gave the company a "neutral" rating in a research report on Thursday, May 14th. One analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Centerspace currently has a consensus rating of "Hold" and a consensus target price of $62.80.

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

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