Vert Asset Management LLC Purchases 372 Shares of Centerspace $CSR

Vert Asset Management LLC raised its stake in shares of Centerspace (NYSE:CSR) by 6.2% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 6,376 shares of the company’s stock after acquiring an additional 372 shares during the period. Vert Asset Management LLC’s holdings in Centerspace were worth $384,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wolff Wiese Magana LLC lifted its stake in Centerspace by 897.3% during the 2nd quarter. Wolff Wiese Magana LLC now owns 748 shares of the company’s stock valued at $45,000 after acquiring an additional 673 shares during the period. New Age Alpha Advisors LLC bought a new position in Centerspace during the 1st quarter valued at about $86,000. Strs Ohio bought a new position in Centerspace during the 1st quarter valued at about $201,000. Integrity Alliance LLC. bought a new position in Centerspace during the 1st quarter valued at about $251,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd bought a new position in Centerspace during the 2nd quarter valued at about $275,000. Institutional investors own 79.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on CSR. Wall Street Zen cut shares of Centerspace from a “hold” rating to a “sell” rating in a research note on Sunday, September 7th. Wells Fargo & Company lowered their target price on shares of Centerspace from $68.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 27th. UBS Group lowered their target price on shares of Centerspace from $67.00 to $60.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 15th. Finally, Cantor Fitzgerald initiated coverage on shares of Centerspace in a research note on Wednesday. They issued a “neutral” rating and a $62.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Centerspace has a consensus rating of “Moderate Buy” and a consensus target price of $68.00.

Insider Buying and Selling

In other news, Director John A. Schissel bought 500 shares of Centerspace stock in a transaction that occurred on 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 acquisition, the director owned 14,398 shares of the company’s stock, valued at $777,492. The trade was a 3.60% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Bhairav Patel bought 500 shares of Centerspace stock in a transaction that occurred on Friday, August 8th. The stock was purchased 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 $201,582. This represents a 15.47% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 1,750 shares of company stock valued at $95,325. 0.44% of the stock is owned by corporate insiders.

Centerspace Price Performance

Shares of NYSE:CSR opened at $58.78 on Thursday. The firm’s 50 day moving average price is $57.23 and its 200-day moving average price is $59.90. Centerspace has a twelve month low of $52.76 and a twelve month high of $75.92. 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 stock has a market capitalization of $985.15 million, a PE ratio of -32.66 and a beta of 0.73.

Centerspace (NYSE:CSR) last issued its quarterly earnings data on Monday, August 4th. The company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.02. Centerspace had a negative net margin of 9.13% and a negative return on equity of 2.81%. The firm had revenue of $68.55 million for the quarter, compared to analysts’ expectations of $67.89 million. Centerspace has set its FY 2025 guidance at 4.880-5.000 EPS. Equities research analysts expect that Centerspace will post 4.94 EPS for the current year.

Centerspace Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Monday, September 29th will be issued a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 5.2%. The ex-dividend date of this dividend is Monday, September 29th. Centerspace’s dividend payout ratio is currently -171.11%.

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.