Key Points
- Centerspace director Rodney Jones-Tyson bought 1,700 shares on June 22 at an average price of $55.26, totaling about $93,942. The purchase increased his stake by 27.52% to 7,877 shares.
- The company recently reported a quarterly loss of $0.77 per share, wider than analysts expected, and revenue of $65.07 million came in slightly below estimates. Centerspace also issued FY2026 EPS guidance of 4.810-5.050.
- Centerspace declared a quarterly dividend of $0.77 per share, payable July 14, which annualizes to $3.08 per share and a 5.4% yield. Analyst sentiment remains mixed, with an overall Hold rating and average price target of $68.80.
Centerspace (NYSE:CSR - Get Free Report) Director Rodney Jones-Tyson acquired 1,700 shares of the firm's stock in a transaction that occurred on Monday, June 22nd. The shares were bought at an average price of $55.26 per share, for a total transaction of $93,942.00. Following the completion of the purchase, the director owned 7,877 shares in the company, valued at $435,283.02. This trade represents a 27.52% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Centerspace Stock Performance
Shares of CSR opened at $56.92 on Thursday. Centerspace has a 52-week low of $52.76 and a 52-week high of $69.61. The stock's 50-day simple moving average is $63.58 and its 200 day simple moving average is $63.37. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.03 and a current ratio of 0.03. The stock has a market capitalization of $956.29 million, a price-to-earnings ratio of 126.49 and a beta of 0.88.
Centerspace (NYSE:CSR - Get Free Report) last posted its earnings results on Monday, May 4th. The company reported ($0.77) earnings per share for the quarter, missing analysts' consensus estimates of ($0.29) by ($0.48). Centerspace had a net margin of 2.93% and a return on equity of 0.94%. The company had revenue of $65.07 million for the quarter, compared to analysts' expectations of $66.54 million. Centerspace has set its FY 2026 guidance at 4.810-5.050 EPS. Research analysts forecast that Centerspace will post 4.85 EPS for the current fiscal year.
Centerspace Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 14th. Investors of record on Monday, June 29th will be paid a dividend of $0.77 per share. The ex-dividend date of this dividend is Monday, June 29th. This represents a $3.08 annualized dividend and a yield of 5.4%. Centerspace's payout ratio is currently 684.44%.
Analyst Ratings Changes
Several research analysts have recently commented on the company. Weiss Ratings lowered Centerspace from a "hold (c)" rating to a "hold (c-)" rating in a report on Wednesday, June 17th. Wells Fargo & Company increased their price target on shares of Centerspace from $69.00 to $70.00 and gave the company an "equal weight" rating in a research report on Monday, June 1st. Piper Sandler upgraded Centerspace from a "neutral" rating to an "overweight" rating and lifted their price objective for the stock from $69.00 to $72.00 in a report on Tuesday, April 7th. Royal Bank Of Canada lowered their price target on shares of Centerspace from $71.00 to $67.00 and set an "outperform" rating for the company in a report on Friday, June 5th. Finally, BTIG Research lowered Centerspace from a "buy" rating to a "neutral" rating in a research report on Tuesday, June 16th. Two investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $68.80.
Get Our Latest Research Report on CSR
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Sound Income Strategies LLC raised its position in shares of Centerspace by 67.4% in the 1st quarter. Sound Income Strategies LLC now owns 626 shares of the company's stock worth $36,000 after acquiring an additional 252 shares in the last quarter. Covestor Ltd boosted its position in shares of Centerspace by 57,100.0% during the fourth quarter. Covestor Ltd now owns 572 shares of the company's stock valued at $38,000 after purchasing an additional 571 shares in the last quarter. Avalon Trust Co boosted its position in shares of Centerspace by 36.3% during the first quarter. Avalon Trust Co now owns 709 shares of the company's stock valued at $41,000 after purchasing an additional 189 shares in the last quarter. Danske Bank A S purchased a new stake in Centerspace in the fourth quarter worth $47,000. Finally, Kestra Advisory Services LLC purchased a new stake in Centerspace in the fourth quarter worth $58,000. Hedge funds and other institutional investors own 79.00% of the company's stock.
Centerspace Company Profile
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Get Free Report)
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.
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