Centerspace (NYSE:CSR) Director Rodney Jones-Tyson Acquires 1,700 Shares

Centerspace (NYSE:CSR) Director Rodney Jones-Tyson bought 1,700 shares of the business’s stock in a transaction dated Monday, June 22nd. The stock was acquired at an average price of $55.26 per share, for a total transaction of $93,942.00. Following the purchase, the director directly owned 7,877 shares in the company, valued at approximately $435,283.02. The trade was a 27.52% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.

Centerspace Stock Performance

CSR stock opened at $56.92 on Thursday. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.88. The firm has a market cap of $956.29 million, a PE ratio of 126.49 and a beta of 0.88. The business has a 50 day moving average of $63.58 and a 200-day moving average of $63.37. Centerspace has a 12-month low of $52.76 and a 12-month high of $69.61.

Centerspace (NYSE:CSR) last issued its quarterly earnings results on Monday, May 4th. The company reported ($0.77) EPS for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.48). The business had revenue of $65.07 million for the quarter, compared to the consensus estimate of $66.54 million. Centerspace had a return on equity of 0.94% and a net margin of 2.93%.Centerspace has set its FY 2026 guidance at 4.810-5.050 EPS. As a group, sell-side analysts expect that Centerspace will post 4.85 earnings per share for the current year.

Centerspace Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 14th. Investors of record on Monday, June 29th will be issued a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date of this dividend is Monday, June 29th. Centerspace’s payout ratio is 684.44%.

Hedge Funds Weigh In On Centerspace

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CSR. Covestor Ltd lifted its stake in shares of Centerspace by 57,100.0% during the 4th quarter. Covestor Ltd now owns 572 shares of the company’s stock valued at $38,000 after buying an additional 571 shares in the last quarter. Sound Income Strategies LLC grew its stake in Centerspace by 67.4% in the 1st quarter. Sound Income Strategies LLC now owns 626 shares of the company’s stock valued at $36,000 after buying an additional 252 shares in the last quarter. Danske Bank A S purchased a new position in Centerspace in the 4th quarter valued at approximately $47,000. Avalon Trust Co grew its stake in Centerspace by 36.3% in the 1st quarter. Avalon Trust Co now owns 709 shares of the company’s stock valued at $41,000 after buying an additional 189 shares in the last quarter. Finally, Kestra Advisory Services LLC bought a new stake in Centerspace during the 4th quarter valued at $58,000. Institutional investors own 79.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CSR. Wall Street Zen upgraded shares of Centerspace from a “strong sell” rating to a “sell” rating in a report on Sunday, May 17th. Wells Fargo & Company boosted their target price on shares of Centerspace from $69.00 to $70.00 and gave the company an “equal weight” rating in a research note on Monday, June 1st. Royal Bank Of Canada reduced their target price on shares of Centerspace from $71.00 to $67.00 and set an “outperform” rating for the company in a research report on Friday, June 5th. Piper Sandler raised Centerspace from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $69.00 to $72.00 in a report on Tuesday, April 7th. Finally, BTIG Research downgraded Centerspace from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 16th. Two analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $68.80.

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. Centerspace was named a Top Workplace for the fourth consecutive year in 2023 by the Minneapolis Star Tribune.