Sumitomo Mitsui DS Asset Management Company Ltd Takes Position in Centerspace $CSR

Key Points

• Sumitomo Mitsui DS Asset Management has acquired a new stake in Centerspace, purchasing 4,571 shares valued at approximately $275,000.
• Centerspace recently declared a quarterly dividend of $0.77, resulting in an annualized dividend of $3.08 and a dividend yield of 5.3%.
• Institutional investors and hedge funds now own 79.00% of Centerspace's stock, indicating strong interest in the company's shares.

Sumitomo Mitsui DS Asset Management Company Ltd purchased a new stake in Centerspace (NYSE:CSR - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 4,571 shares of the company's stock, valued at approximately $275,000.

Several other hedge funds have also recently bought and sold shares of CSR. 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 grew its stake in Centerspace by 1.9% during the 4th quarter. California State Teachers Retirement System now owns 14,401 shares of the company's stock worth $953,000 after buying an additional 268 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Centerspace by 2.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,790 shares of the company's stock worth $958,000 after buying an additional 287 shares during the last quarter. Hsbc Holdings PLC grew its stake in Centerspace by 2.2% during the 1st quarter. Hsbc Holdings PLC now owns 13,863 shares of the company's stock worth $898,000 after buying an additional 294 shares during the last quarter. Finally, Arizona State Retirement System grew its stake in Centerspace by 7.0% during the 1st quarter. Arizona State Retirement System now owns 4,753 shares of the company's stock worth $308,000 after buying an additional 313 shares during the last quarter. Institutional investors and hedge funds own 79.00% of the company's stock.

Centerspace Trading Up 0.5%

Shares of CSR stock opened at $58.60 on Tuesday. The business's 50 day moving average is $57.32 and its two-hundred day moving average is $60.10. Centerspace has a twelve month low of $52.76 and a twelve month high of $75.92. The company has a market capitalization of $982.14 million, a P/E ratio of -32.56 and a beta of 0.75. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.97.

Centerspace (NYSE:CSR - Get Free Report) last announced its earnings results on Monday, August 4th. The company reported $1.28 earnings per share 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 company 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. Equities analysts forecast that Centerspace will post 4.94 EPS 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 5.3%. 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 recently issued reports on CSR. UBS Group dropped 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. Wells Fargo & Company dropped their price target on Centerspace from $68.00 to $60.00 and set an "equal weight" rating on the stock in a research note on Wednesday, August 27th. Finally, Wall Street Zen downgraded Centerspace from a "hold" rating to a "sell" rating in a research note on Sunday, September 7th. 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's stock. According to data from MarketBeat, Centerspace has an average rating of "Moderate Buy" and a consensus target price of $68.75.

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 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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