Vanguard Group Inc. Raises Stake 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. increased its stake in shares of Centerspace (NYSE:CSR - Free Report) by 0.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,603,360 shares of the company's stock after acquiring an additional 8,994 shares during the quarter. Vanguard Group Inc. owned about 15.56% of Centerspace worth $168,568,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Silvercrest Asset Management Group LLC raised its stake in Centerspace by 6.9% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 834,251 shares of the company's stock worth $55,186,000 after acquiring an additional 54,204 shares in the last quarter. Northern Trust Corp grew its stake in shares of Centerspace by 28.5% during the 4th quarter. Northern Trust Corp now owns 230,816 shares of the company's stock worth $15,268,000 after purchasing an additional 51,259 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Centerspace by 1.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 224,596 shares of the company's stock worth $14,856,000 after purchasing an additional 3,111 shares during the period. Westwood Holdings Group Inc. lifted its holdings in shares of Centerspace by 13.4% during the 4th quarter. Westwood Holdings Group Inc. now owns 113,104 shares of the company's stock worth $7,482,000 after acquiring an additional 13,386 shares during the period. Finally, Invesco Ltd. lifted its holdings in shares of Centerspace by 6.1% during the 4th quarter. Invesco Ltd. now owns 102,296 shares of the company's stock worth $6,767,000 after acquiring an additional 5,908 shares during the period. 79.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director John A. Schissel acquired 500 shares of the business's stock in a transaction that occurred on Friday, August 8th. The stock was acquired 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 $777,492. This trade represents a 3.60% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Bhairav Patel bought 500 shares of the stock in a transaction on Friday, August 8th. The shares were acquired at an average cost of $54.00 per share, with a total value of $27,000.00. Following the purchase, the chief financial officer owned 3,733 shares of the company's stock, valued at approximately $201,582. This represents a 15.47% increase in their position. The disclosure for this purchase can be found here. Insiders bought 1,750 shares of company stock valued at $95,325 over the last quarter. 0.44% of the stock is owned by company insiders.

Centerspace Stock Down 1.1%

Shares of CSR traded down $0.63 during trading hours on Monday, reaching $57.54. The company's stock had a trading volume of 21,621 shares, compared to its average volume of 100,657. Centerspace has a 1-year low of $52.76 and a 1-year high of $76.16. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.97. The company has a 50 day moving average of $58.40 and a two-hundred day moving average of $60.87. The firm has a market cap of $964.37 million, a price-to-earnings ratio of -31.97 and a beta of 0.72.

Centerspace (NYSE:CSR - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.02. The business had revenue of $68.55 million for the quarter, compared to the consensus estimate of $67.89 million. Centerspace had a negative net margin of 9.13% and a negative return on equity of 2.81%. Centerspace has set its FY 2025 guidance at 4.880-5.000 EPS. As a group, research analysts predict 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 dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 5.4%. The ex-dividend date of this dividend was Friday, June 27th. Centerspace's payout ratio is -171.11%.

Wall Street Analysts Forecast Growth

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

About Centerspace

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.