Nuveen LLC Takes $13.15 Million Position in Centerspace $CSR

Key Points

• Nuveen LLC acquired a new stake in Centerspace, purchasing 203,038 shares valued at approximately $13.15 million, representing around 1.21% ownership of the company.
• Centerspace recently reported $1.28 earnings per share for the quarter, exceeding analyst expectations and setting FY 2025 guidance at 4.880-5.000 EPS.
• Following recent transactions, corporate insiders increased their ownership in Centerspace, with purchases totaling $95,325 in the last ninety days.

Nuveen LLC acquired a new stake in shares of Centerspace (NYSE:CSR - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 203,038 shares of the company's stock, valued at approximately $13,147,000. Nuveen LLC owned 1.21% of Centerspace as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Allianz Asset Management GmbH purchased a new stake in shares of Centerspace during the 1st quarter worth $6,388,000. Silvercrest Asset Management Group LLC raised its holdings in Centerspace by 6.9% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 834,251 shares of the company's stock worth $55,186,000 after purchasing an additional 54,204 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Centerspace by 28.5% in the 4th quarter. Northern Trust Corp now owns 230,816 shares of the company's stock valued at $15,268,000 after buying an additional 51,259 shares in the last quarter. Invesco Ltd. grew its position in shares of Centerspace by 32.3% in the 1st quarter. Invesco Ltd. now owns 135,365 shares of the company's stock worth $8,765,000 after buying an additional 33,069 shares during the last quarter. Finally, Exchange Traded Concepts LLC purchased a new position in shares of Centerspace in the 1st quarter worth approximately $1,813,000. 79.00% of the stock is currently owned by hedge funds and other institutional investors.

Centerspace Stock Performance

NYSE:CSR traded up $0.94 during mid-day trading on Wednesday, hitting $58.29. The company's stock had a trading volume of 76,450 shares, compared to its average volume of 111,379. The business's fifty day moving average is $58.11 and its two-hundred day moving average is $60.80. The stock has a market cap of $976.86 million, a price-to-earnings ratio of -32.38 and a beta of 0.72. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.05 and a quick ratio of 0.05. Centerspace has a 1 year low of $52.76 and a 1 year high of $76.16.

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

Centerspace Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 10th. Shareholders of record on Friday, June 27th were given a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 5.3%. The ex-dividend date was Friday, June 27th. Centerspace's dividend payout ratio is currently -171.11%.

Insider Transactions at Centerspace

In other news, CFO Bhairav Patel purchased 500 shares of the company's stock in a transaction that occurred on Friday, August 8th. The shares were bought at an average price of $54.00 per share, for a total transaction of $27,000.00. Following the completion of the transaction, the chief financial officer owned 3,733 shares in the company, valued at $201,582. This represents a 15.47% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director John A. Schissel acquired 500 shares of the business's stock in a transaction on Friday, August 8th. The stock was purchased at an average cost of $54.00 per share, with a total value of $27,000.00. Following 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. Insiders have bought 1,750 shares of company stock valued at $95,325 in the last 90 days. 0.44% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. 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. Piper Sandler dropped their target price on Centerspace from $75.00 to $68.00 and set a "neutral" rating on the stock in a research note on Monday, May 5th. Wall Street Zen lowered Centerspace from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Royal Bank Of Canada raised their price target on Centerspace from $71.00 to $72.00 and gave the stock an "outperform" rating in a report on Monday, May 5th. Finally, Raymond James Financial upgraded shares of Centerspace from an "outperform" rating to a "strong-buy" rating and upped their price objective for the company from $66.00 to $69.00 in a report on Thursday, May 15th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Centerspace currently has an average rating of "Moderate Buy" and a consensus price target 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.