Vanguard Group Inc. Raises Position in Centerspace $CSR

Key Points

• Vanguard Group Inc. has increased its stake in Centerspace by 0.3%, now holding approximately 15.56% of the company's shares, valued at about $168.57 million.
• A variety of large institutional investors have also adjusted their positions in Centerspace, with Sterling Capital Management boosting its stake by an impressive 903.8% in the fourth quarter.
• Several analysts have provided mixed ratings on Centerspace, with price targets ranging from $60.00 to $72.00, reflecting differing outlooks on the company's future performance.

Vanguard Group Inc. raised its stake in Centerspace (NYSE:CSR - Free Report) by 0.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,603,360 shares of the company's stock after acquiring an additional 8,994 shares during the quarter. Vanguard Group Inc. owned approximately 15.56% of Centerspace worth $168,568,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Sterling Capital Management LLC raised its holdings in shares of Centerspace by 903.8% in the fourth quarter. Sterling Capital Management LLC now owns 522 shares of the company's stock worth $35,000 after acquiring an additional 470 shares during the last quarter. New Age Alpha Advisors LLC acquired a new position in Centerspace in the first quarter valued at $86,000. Summit Investment Advisors Inc. increased its stake in Centerspace by 15.2% in 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 position in Centerspace in the fourth quarter valued at $223,000. Finally, Graham Capital Management L.P. acquired a new position in Centerspace in the fourth quarter valued at $227,000. 79.00% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Centerspace

In related news, Director John A. Schissel bought 500 shares of the firm's stock in a transaction dated Friday, August 8th. The stock was bought at an average price of $54.00 per share, with a total value of $27,000.00. Following the completion of the transaction, the director directly 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Bhairav Patel bought 500 shares of the firm's stock in a transaction dated Friday, August 8th. The stock was bought at an average cost of $54.00 per share, with a total value of $27,000.00. Following the transaction, the chief financial officer directly owned 3,733 shares of the company's stock, 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 purchased 1,750 shares of company stock valued at $95,325 over the last quarter. Company insiders own 0.44% of the company's stock.

Centerspace Trading Up 0.1%

NYSE:CSR traded up $0.03 on Tuesday, hitting $57.44. 91,092 shares of the stock were exchanged, compared to its average volume of 111,778. The stock has a market cap of $962.76 million, a PE ratio of -31.91 and a beta of 0.72. 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 fifty day moving average of $58.20 and a 200-day moving average of $60.81. Centerspace has a fifty-two week low of $52.76 and a fifty-two week high of $76.16.

Centerspace (NYSE:CSR - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.26 by $0.02. The company had revenue of $68.55 million during 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. As a group, equities analysts expect that Centerspace will post 4.94 earnings per share for the current fiscal year.

Centerspace Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 10th. Stockholders of record on Friday, June 27th were given a $0.77 dividend. The ex-dividend date of this dividend was Friday, June 27th. This represents a $3.08 annualized dividend and a dividend yield of 5.4%. Centerspace's dividend payout ratio is presently -171.11%.

Analyst Ratings Changes

Several equities analysts recently commented on the company. UBS Group dropped their target price on Centerspace from $67.00 to $60.00 and set a "neutral" rating for the company in a research note on Tuesday, July 15th. Raymond James Financial upgraded Centerspace from an "outperform" rating to a "strong-buy" rating and upped their target price for the company from $66.00 to $69.00 in a research note on Thursday, May 15th. Royal Bank Of Canada upped their target price on Centerspace from $71.00 to $72.00 and gave the company an "outperform" rating in a research note on Monday, May 5th. Piper Sandler dropped their target price on Centerspace from $75.00 to $68.00 and set a "neutral" rating for the company in a research note on Monday, May 5th. Finally, Wall Street Zen lowered Centerspace from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, Centerspace currently has an average rating of "Moderate Buy" and a consensus target price of $69.75.

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.