OLD National Bancorp IN Makes New Investment in Centerspace $CSR

OLD National Bancorp IN purchased a new position in shares of Centerspace (NYSE:CSR - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,605 shares of the company's stock, valued at approximately $337,000.

Other large investors also recently bought and sold shares of the company. Illinois Municipal Retirement Fund increased its holdings in shares of Centerspace by 2.6% in the 1st quarter. Illinois Municipal Retirement Fund now owns 8,726 shares of the company's stock valued at $565,000 after acquiring an additional 225 shares during the last quarter. California State Teachers Retirement System increased 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 valued at $953,000 after acquiring an additional 268 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of 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 acquiring an additional 287 shares during the last quarter. Hsbc Holdings PLC increased its holdings in shares of 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 acquiring an additional 294 shares during the last quarter. Finally, Arizona State Retirement System increased its holdings in shares of Centerspace by 7.0% in the 1st quarter. Arizona State Retirement System now owns 4,753 shares of the company's stock valued at $308,000 after acquiring an additional 313 shares during the last quarter. Hedge funds and other institutional investors own 79.00% of the company's stock.

Centerspace Stock Up 3.1%

Centerspace stock opened at $59.17 on Wednesday. Centerspace has a twelve month low of $52.76 and a twelve month high of $75.92. The stock has a 50 day moving average of $57.33 and a two-hundred day moving average of $59.72. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.97. The stock has a market capitalization of $991.74 million, a price-to-earnings ratio of -32.87 and a beta of 0.73.

Centerspace (NYSE:CSR - Get Free Report) last posted 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. Centerspace had a negative return on equity of 2.81% and a negative net margin of 9.13%.The company 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. As a group, research analysts expect that Centerspace will post 4.94 earnings per share for the current year.

Centerspace Dividend Announcement

The firm also recently declared 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 dividend payout ratio (DPR) is currently -171.11%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CSR. UBS Group dropped their price objective on Centerspace from $67.00 to $60.00 and set a "neutral" rating on the stock in a report on Tuesday, July 15th. Weiss Ratings reiterated a "sell (d+)" rating on shares of Centerspace in a report on Saturday, September 27th. Cantor Fitzgerald assumed coverage on Centerspace in a report on Wednesday, October 1st. They issued a "neutral" rating and a $62.00 price objective on the stock. Wells Fargo & Company decreased their target price on Centerspace from $68.00 to $60.00 and set an "equal weight" rating for the company in a research report on Wednesday, August 27th. Finally, Wall Street Zen cut Centerspace from a "hold" rating to a "sell" rating in a research report on Sunday, September 7th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $68.00.

Insider Activity

In other Centerspace news, CEO Anne Olson purchased 750 shares of Centerspace stock in a transaction dated Friday, August 8th. The stock was acquired at an average cost of $55.10 per share, with a total value of $41,325.00. Following the acquisition, the chief executive officer directly owned 19,496 shares of the company's stock, valued at $1,074,229.60. This represents a 4.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Bhairav Patel purchased 500 shares of Centerspace stock in a transaction dated Friday, August 8th. The stock was acquired at an average cost of $54.00 per share, with a total value of $27,000.00. Following the completion of the acquisition, the chief financial officer directly owned 3,733 shares in the company, valued at approximately $201,582. This trade represents a 15.47% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 1,750 shares of company stock valued at $95,325 in the last three months. 0.44% of the stock is currently owned by company 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.

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