Cbre Investment Management Listed Real Assets LLC Buys 35,139 Shares of Centerspace $CSR

Cbre Investment Management Listed Real Assets LLC lifted its holdings in shares of Centerspace (NYSE:CSR) by 157.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 57,468 shares of the company’s stock after purchasing an additional 35,139 shares during the period. Cbre Investment Management Listed Real Assets LLC’s holdings in Centerspace were worth $3,721,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in shares of Centerspace by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 2,603,360 shares of the company’s stock valued at $168,568,000 after purchasing an additional 8,994 shares during the last quarter. Silvercrest Asset Management Group LLC grew its holdings in Centerspace by 6.9% in the 4th quarter. Silvercrest Asset Management Group LLC now owns 834,251 shares of the company’s stock worth $55,186,000 after acquiring an additional 54,204 shares during the last quarter. Northern Trust Corp grew its holdings in Centerspace by 28.5% in the 4th quarter. Northern Trust Corp now owns 230,816 shares of the company’s stock worth $15,268,000 after acquiring an additional 51,259 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Centerspace by 1.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 224,596 shares of the company’s stock worth $14,856,000 after acquiring an additional 3,111 shares during the last quarter. Finally, Nuveen LLC bought a new stake in Centerspace in the 1st quarter worth $13,147,000. Institutional investors own 79.00% of the company’s stock.

Insider Transactions at Centerspace

In related news, Director John A. Schissel purchased 500 shares of Centerspace stock in a transaction dated Friday, August 8th. The stock was purchased at an average cost of $54.00 per share, for a total transaction of $27,000.00. Following the completion of the purchase, the director directly owned 14,398 shares of the company’s stock, valued at $777,492. The trade was a 3.60% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Bhairav Patel purchased 500 shares of Centerspace stock in a transaction dated Friday, August 8th. The stock was bought at an average price of $54.00 per share, with a total value of $27,000.00. Following the completion of the purchase, the chief financial officer directly 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 worth $95,325 over the last three months. 0.44% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Royal Bank Of Canada raised their price target on shares of Centerspace from $71.00 to $72.00 and gave the stock an “outperform” rating in a report on Monday, May 5th. Piper Sandler dropped their target price 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 dropped their target price 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, August 9th. Finally, Raymond James Financial raised shares of Centerspace from an “outperform” rating to a “strong-buy” rating and raised their target price for the stock from $66.00 to $69.00 in a research report on Thursday, May 15th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Centerspace presently has a consensus rating of “Moderate Buy” and an average price target of $69.75.

Centerspace Stock Up 2.5%

NYSE:CSR opened at $58.1660 on Friday. The firm has a market cap of $974.69 million, a P/E ratio of -32.31 and a beta of 0.72. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.05 and a current ratio of 0.05. Centerspace has a fifty-two week low of $52.76 and a fifty-two week high of $76.16. The firm has a 50-day simple moving average of $58.40 and a two-hundred day simple moving average of $60.89.

Centerspace (NYSE:CSR) last released its quarterly earnings data on Monday, August 4th. The company reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $67.89 million. Centerspace has set its FY 2025 guidance at 4.880-5.000 EPS. Analysts predict that Centerspace will post 4.94 earnings per share for the current fiscal year.

Centerspace Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 10th. Stockholders of record on Friday, June 27th were paid a $0.77 dividend. The ex-dividend date was Friday, June 27th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 5.3%. Centerspace’s payout ratio is currently -171.11%.

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.