Public Sector Pension Investment Board Has $3.41 Million Holdings in Centerspace $CSR

Key Points

• The Public Sector Pension Investment Board increased its stake in Centerspace (NYSE:CSR) by 27.4%, acquiring an additional 11,309 shares and owning a total of 52,586 shares valued at approximately $3.4 million.
• Centerspace reported earnings of $1.28 per share, beating estimates, and the company recently declared a quarterly dividend of $0.77, with a yield of 5.6%.
• Analysts have mixed opinions on the stock, with ratings ranging from a "strong buy" to "sell," and an average price target of $69.75.

Public Sector Pension Investment Board grew its position in shares of Centerspace (NYSE:CSR - Free Report) by 27.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 52,586 shares of the company's stock after purchasing an additional 11,309 shares during the quarter. Public Sector Pension Investment Board owned 0.31% of Centerspace worth $3,405,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Sterling Capital Management LLC increased its position in shares of Centerspace by 903.8% during the 4th quarter. Sterling Capital Management LLC now owns 522 shares of the company's stock valued at $35,000 after purchasing an additional 470 shares during the period. New Age Alpha Advisors LLC purchased a new position in shares of Centerspace during the first quarter valued at $86,000. Summit Investment Advisors Inc. boosted its position in Centerspace by 15.2% during the fourth quarter. Summit Investment Advisors Inc. now owns 1,732 shares of the company's stock valued at $115,000 after purchasing an additional 229 shares during the last quarter. First Trust Advisors LP acquired a new stake in Centerspace during the fourth quarter valued at $223,000. Finally, Graham Capital Management L.P. acquired a new stake in Centerspace during the fourth quarter valued at $227,000. 79.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Piper Sandler dropped their price objective on Centerspace from $75.00 to $68.00 and set a "neutral" rating on the stock in a research note on Monday, May 5th. Raymond James Financial upgraded 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 research note on Thursday, May 15th. Royal Bank Of Canada boosted their price target on Centerspace from $71.00 to $72.00 and gave the company an "outperform" rating in a research note on Monday, May 5th. Wall Street Zen lowered Centerspace from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Finally, UBS Group lowered their price target on Centerspace from $67.00 to $60.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 15th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $69.75.

Centerspace Price Performance

Shares of CSR stock traded up $0.2450 during trading hours on Thursday, hitting $56.7450. The company had a trading volume of 86,086 shares, compared to its average volume of 110,376. The firm has a market capitalization of $951.05 million, a price-to-earnings ratio of -31.52 and a beta of 0.72. Centerspace has a 12 month low of $52.76 and a 12 month high of $76.16. The firm's fifty day moving average is $58.50 and its 200 day moving average is $60.91. 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 released its quarterly earnings results on Monday, August 4th. The company reported $1.28 EPS for the quarter, topping analysts' consensus estimates of $1.26 by $0.02. The business had revenue of $68.55 million for the quarter, compared to analyst estimates of $67.89 million. Centerspace had a negative return on equity of 2.81% and a negative net margin of 9.13%. Centerspace has set its FY 2025 guidance at 4.880-5.000 EPS. On average, sell-side analysts predict that Centerspace will post 4.94 EPS for the current fiscal year.

Centerspace Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 10th. Shareholders of record on Friday, June 27th were issued a dividend of $0.77 per share. The ex-dividend date of this dividend was Friday, June 27th. This represents a $3.08 annualized dividend and a yield of 5.4%. Centerspace's dividend payout ratio is currently -171.11%.

Insider Buying and Selling at Centerspace

In other news, Director John A. Schissel acquired 500 shares of the firm's stock in a transaction on Friday, August 8th. The shares were purchased at an average cost of $54.00 per share, for a total transaction of $27,000.00. Following the transaction, the director owned 14,398 shares of the company's stock, valued at approximately $777,492. This represents a 3.60% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Bhairav Patel acquired 500 shares of the firm's stock in a transaction on Friday, August 8th. The stock was purchased 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 directly owned 3,733 shares in the company, valued at approximately $201,582. The trade was a 15.47% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 1,750 shares of company stock worth $95,325. Insiders own 0.44% of the company's stock.

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.