New Age Alpha Advisors LLC Buys New Shares in Centerspace (NYSE:CSR)

New Age Alpha Advisors LLC bought a new stake in shares of Centerspace (NYSE:CSR) during the 1st quarter, HoldingsChannel.com reports. The fund bought 1,323 shares of the company’s stock, valued at approximately $86,000.

Several other institutional investors and hedge funds also recently made changes to their positions in CSR. Sterling Capital Management LLC boosted its stake in shares of Centerspace by 903.8% during the 4th quarter. Sterling Capital Management LLC now owns 522 shares of the company’s stock valued at $35,000 after purchasing an additional 470 shares in the last quarter. Summit Investment Advisors Inc. boosted its stake in shares of Centerspace by 15.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 1,732 shares of the company’s stock valued at $115,000 after purchasing an additional 229 shares in the last quarter. First Trust Advisors LP bought a new stake in shares of Centerspace during the 4th quarter valued at about $223,000. Graham Capital Management L.P. purchased a new position in Centerspace during the 4th quarter valued at about $227,000. Finally, Captrust Financial Advisors lifted its position in Centerspace by 14.0% during the 4th quarter. Captrust Financial Advisors now owns 3,780 shares of the company’s stock valued at $250,000 after acquiring an additional 464 shares during the period. Institutional investors own 79.00% of the company’s stock.

Analyst Upgrades and Downgrades

CSR has been the subject of a number of recent research reports. Royal Bank Of Canada lifted their price target on shares of Centerspace from $71.00 to $72.00 and gave the company an “outperform” rating in a research report on Monday, May 5th. Piper Sandler lowered 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. UBS Group lowered their price target on shares of Centerspace from $67.00 to $60.00 and set a “neutral” rating for the company in a research report on Tuesday, July 15th. Wall Street Zen cut shares of Centerspace from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Raymond James Financial raised shares of Centerspace from an “outperform” rating to a “strong-buy” rating and lifted their price target for the company 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 given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.78.

Insider Activity

In other Centerspace news, Director John A. Schissel bought 500 shares of Centerspace stock in a transaction on Friday, August 8th. The stock was acquired at an average cost of $54.00 per share, with a total value of $27,000.00. Following the completion of the acquisition, the director owned 14,398 shares in the company, valued at approximately $777,492. This represents a 3.60% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Bhairav Patel purchased 500 shares of the company’s stock in a transaction 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 transaction, the chief financial officer owned 3,733 shares of the company’s stock, valued at approximately $201,582. This trade represents a 15.47% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 1,750 shares of company stock valued at $95,325 over the last three months. Insiders own 0.44% of the company’s stock.

Centerspace Stock Up 0.2%

Shares of Centerspace stock opened at $53.64 on Tuesday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.05 and a current ratio of 0.05. The stock has a market capitalization of $898.92 million, a PE ratio of -29.80 and a beta of 0.72. Centerspace has a 52-week low of $52.76 and a 52-week high of $76.16. The company has a 50-day simple moving average of $59.85 and a two-hundred day simple moving average of $61.20.

Centerspace (NYSE:CSR) last issued its 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. Centerspace had a negative net margin of 9.13% and a negative return on equity of 2.81%. The business had revenue of $68.55 million during the quarter, compared to analysts’ expectations of $67.89 million. On average, analysts anticipate that Centerspace will post 4.94 EPS for the current fiscal year.

Centerspace Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 10th. Stockholders of record on Friday, June 27th were issued a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 5.7%. The ex-dividend date of this dividend was Friday, June 27th. Centerspace’s payout ratio is presently -171.11%.

Centerspace Company 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.