124,736 Shares in Centerspace $CSR Purchased by Diamond Hill Capital Management LLC Investment Advisor

Diamond Hill Capital Management LLC Investment Advisor acquired a new position in shares of Centerspace (NYSE:CSR) in the 2nd quarter, HoldingsChannel reports. The firm acquired 124,736 shares of the company’s stock, valued at approximately $7,009,000.

Other hedge funds have also made changes to their positions in the company. Avalon Trust Co lifted its position in shares of Centerspace by 36.3% in the first quarter. Avalon Trust Co now owns 709 shares of the company’s stock valued at $41,000 after acquiring an additional 189 shares in the last quarter. Captrust Financial Advisors increased its position in shares of Centerspace by 4.9% during the fourth quarter. Captrust Financial Advisors now owns 4,348 shares of the company’s stock worth $290,000 after purchasing an additional 202 shares in the last quarter. State of Alaska Department of Revenue increased its position in shares of Centerspace by 1.2% during the fourth quarter. State of Alaska Department of Revenue now owns 17,657 shares of the company’s stock worth $1,176,000 after purchasing an additional 212 shares in the last quarter. Engineers Gate Manager LP raised its stake in Centerspace by 6.4% in the 4th quarter. Engineers Gate Manager LP now owns 4,091 shares of the company’s stock valued at $273,000 after purchasing an additional 246 shares during the last quarter. Finally, State of Tennessee Department of Treasury lifted its holdings in Centerspace by 3.7% in the 2nd quarter. State of Tennessee Department of Treasury now owns 6,877 shares of the company’s stock valued at $414,000 after purchasing an additional 247 shares in the last quarter. Institutional investors and hedge funds own 79.00% of the company’s stock.

Insider Activity

In related news, Director John A. Schissel purchased 500 shares of the company’s stock in a transaction on Thursday, June 18th. The stock was acquired at an average cost of $54.90 per share, for a total transaction of $27,450.00. Following the completion of the transaction, the director directly owned 17,195 shares in the company, valued at approximately $944,005.50. The trade was a 2.99% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Director Rodney Jones-Tyson bought 1,700 shares of the company’s stock in a transaction that occurred on Monday, June 22nd. The stock was bought at an average price of $55.26 per share, with a total value of $93,942.00. Following the acquisition, the director directly owned 7,877 shares in the company, valued at $435,283.02. The trade was a 27.52% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 0.49% of the company’s stock.

Centerspace Stock Down 2.3%

Shares of NYSE CSR opened at $54.58 on Tuesday. The company has a 50 day simple moving average of $56.08 and a 200-day simple moving average of $60.85. The company has a market capitalization of $916.40 million, a P/E ratio of 43.32 and a beta of 0.88. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.03 and a quick ratio of 0.03. Centerspace has a 1 year low of $53.81 and a 1 year high of $69.61.

Centerspace (NYSE:CSR) last issued its quarterly earnings data on Monday, August 3rd. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.06. Centerspace had a return on equity of 2.58% and a net margin of 7.97%.The company had revenue of $65.78 million during the quarter, compared to analyst estimates of $66.29 million. Centerspace has set its FY 2026 guidance at 4.580-4.680 EPS. On average, equities research analysts predict that Centerspace will post 4.63 earnings per share for the current year.

Centerspace Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 14th. Shareholders of record on Monday, June 29th were given a $0.77 dividend. The ex-dividend date of this dividend was Monday, June 29th. This represents a $3.08 dividend on an annualized basis and a yield of 5.6%. Centerspace’s dividend payout ratio is presently 244.44%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Royal Bank Of Canada dropped their target price on shares of Centerspace from $67.00 to $64.00 and set an “outperform” rating for the company in a report on Wednesday, August 5th. UBS Group upped their price objective on shares of Centerspace from $66.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. Piper Sandler lowered their target price on Centerspace from $64.00 to $60.00 and set a “neutral” rating on the stock in a report on Tuesday, July 21st. Wall Street Zen raised Centerspace from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Finally, BTIG Research lowered Centerspace from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 16th. One analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, Centerspace has a consensus rating of “Hold” and an average target price of $63.80.

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