John A. Schissel Buys 500 Shares of Centerspace (NYSE:CSR) Stock

Key Points

• John A. Schissel, a director of Centerspace, purchased 500 shares at $54.00 each, increasing his ownership to 14,398 shares valued at approximately $777,492.
• Centerspace's quarterly earnings report showed an EPS of $1.28, exceeding expectations, while the company declared a new quarterly dividend of $0.77, reflecting a 5.7% yield.
• Recent analyst ratings for Centerspace include a price target increase to $72.00 from Royal Bank Of Canada, while UBS Group downgraded its target from $67.00 to $60.00.

Centerspace (NYSE:CSR - Get Free Report) Director John A. Schissel bought 500 shares of the stock in a transaction on Friday, August 8th. The shares were bought at an average price of $54.00 per share, for a total transaction of $27,000.00. Following the purchase, the director directly owned 14,398 shares in the company, valued at approximately $777,492. This trade represents a 3.60% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Centerspace Stock Performance

NYSE CSR traded up $0.41 on Friday, reaching $55.37. 86,626 shares of the stock were exchanged, compared to its average volume of 109,263. Centerspace has a one year low of $52.76 and a one year high of $76.16. The firm has a market capitalization of $928.00 million, a PE ratio of -30.76 and a beta of 0.72. The company's 50-day simple moving average is $59.18 and its two-hundred day simple moving average is $61.03. 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 posted its quarterly earnings results on Monday, August 4th. The company reported $1.28 EPS for the quarter, beating analysts' consensus estimates of $1.26 by $0.02. The business had revenue of $68.55 million for the quarter, compared to analysts' expectations of $67.89 million. Centerspace had a negative return on equity of 2.81% and a negative net margin of 9.13%. Analysts expect that Centerspace will post 4.94 EPS for the current fiscal year.

Centerspace Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 10th. Investors of record on Friday, June 27th were paid a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 5.6%. The ex-dividend date of this dividend was Friday, June 27th. Centerspace's dividend payout ratio (DPR) is -171.11%.

Institutional Investors Weigh In On Centerspace

Several institutional investors and hedge funds have recently modified their holdings of CSR. Nuveen LLC bought a new stake in Centerspace in the 1st quarter valued at $13,147,000. Millennium Management LLC increased its holdings in Centerspace by 307.3% in the 1st quarter. Millennium Management LLC now owns 184,051 shares of the company's stock valued at $11,917,000 after acquiring an additional 138,861 shares during the last quarter. Systematic Financial Management LP bought a new stake in shares of Centerspace in the second quarter worth about $7,662,000. Allianz Asset Management GmbH bought a new stake in shares of Centerspace in the first quarter worth about $6,388,000. Finally, Strs Ohio increased its holdings in shares of Centerspace by 3,025.8% in the second quarter. Strs Ohio now owns 96,900 shares of the company's stock worth $5,832,000 after purchasing an additional 93,800 shares during the last quarter. Institutional investors own 79.00% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Wall Street Zen downgraded shares of Centerspace from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. UBS Group lowered their price target on Centerspace from $67.00 to $60.00 and set a "neutral" rating on the stock in a report on Tuesday, July 15th. Piper Sandler lowered their target price on Centerspace from $75.00 to $68.00 and set a "neutral" rating on the stock in a report on Monday, May 5th. Royal Bank Of Canada increased their price objective on shares of Centerspace from $71.00 to $72.00 and gave the stock an "outperform" rating in a research note on Monday, May 5th. Finally, Raymond James Financial upgraded shares of Centerspace from an "outperform" rating to a "strong-buy" rating and increased their price target for the stock from $66.00 to $69.00 in a research report on Thursday, May 15th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average 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.