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 acquired 500 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The stock was purchased at an average price of $54.00 per share, with a total value of $27,000.00. Following the completion of the acquisition, the director directly owned 14,398 shares of the company's stock, valued at $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 the SEC website.

Centerspace Price Performance

Shares of NYSE CSR traded up $0.13 during mid-day trading on Monday, reaching $53.64. The company had a trading volume of 128,757 shares, compared to its average volume of 100,862. 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 market cap of $898.92 million, a PE ratio of -29.80 and a beta of 0.72. The company has a 50-day moving average price of $60.05 and a two-hundred day moving average price of $61.26. Centerspace has a 1-year low of $52.76 and a 1-year high of $76.16.

Centerspace (NYSE:CSR - Get Free Report) last issued its 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 business had revenue of $68.55 million during 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%. On average, equities analysts anticipate that Centerspace will post 4.94 earnings per share for the current year.

Centerspace Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 10th. Shareholders of record on Friday, June 27th were issued a $0.77 dividend. The ex-dividend date of this dividend was Friday, June 27th. This represents a $3.08 annualized dividend and a yield of 5.7%. Centerspace's dividend payout ratio is -171.11%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Royal Bank Of Canada upped their price objective on shares of Centerspace from $71.00 to $72.00 and gave the company an "outperform" rating in a report on Monday, May 5th. Raymond James Financial upgraded Centerspace from an "outperform" rating to a "strong-buy" rating and upped their price objective for the stock from $66.00 to $69.00 in a research report on Thursday, May 15th. UBS Group decreased their target price on Centerspace from $67.00 to $60.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 15th. Wall Street Zen downgraded Centerspace from a "hold" rating to a "sell" rating in a research note on Saturday. Finally, Piper Sandler cut 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. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $70.78.

Hedge Funds Weigh In On Centerspace

Several large investors have recently added to or reduced their stakes in CSR. Capital Square LLC raised its holdings in shares of Centerspace by 3.3% in the 2nd quarter. Capital Square LLC now owns 8,367 shares of the company's stock worth $503,000 after buying an additional 271 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its position in Centerspace by 6.8% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 23,650 shares of the company's stock worth $1,423,000 after acquiring an additional 1,500 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in Centerspace by 3.6% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,641 shares of the company's stock valued at $580,000 after buying an additional 331 shares during the last quarter. Police & Firemen s Retirement System of New Jersey boosted its position in Centerspace by 12.7% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 3,833 shares of the company's stock valued at $231,000 after buying an additional 433 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in Centerspace by 0.9% in the 2nd quarter. Geode Capital Management LLC now owns 435,025 shares of the company's stock valued at $26,185,000 after buying an additional 4,090 shares during the last quarter. Institutional investors and hedge funds own 79.00% of the company's stock.

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.

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