Royal Bank of Canada Has $2.62 Million Stake in Centerspace $CSR

Royal Bank of Canada lowered its stake in Centerspace (NYSE:CSR) by 28.7% in the first quarter, Holdings Channel reports. The fund owned 45,578 shares of the company’s stock after selling 18,344 shares during the quarter. Royal Bank of Canada’s holdings in Centerspace were worth $2,619,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Sound Income Strategies LLC increased its position in Centerspace by 67.4% during the 1st quarter. Sound Income Strategies LLC now owns 626 shares of the company’s stock worth $36,000 after purchasing an additional 252 shares in the last quarter. Covestor Ltd lifted its stake in Centerspace by 57,100.0% in the 4th quarter. Covestor Ltd now owns 572 shares of the company’s stock valued at $38,000 after purchasing an additional 571 shares during the last quarter. Avalon Trust Co boosted its position in 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 buying an additional 189 shares in the last quarter. Danske Bank A S acquired a new stake in Centerspace in the fourth quarter valued at approximately $47,000. Finally, Kestra Advisory Services LLC bought a new stake in shares of Centerspace during the fourth quarter worth $58,000. 79.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Rodney Jones-Tyson purchased 1,700 shares of Centerspace stock in a transaction on Monday, June 22nd. The shares were purchased at an average price of $55.26 per share, for a total transaction of $93,942.00. Following the transaction, the director owned 7,877 shares of the company’s stock, valued at approximately $435,283.02. This represents a 27.52% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John A. Schissel purchased 500 shares of Centerspace stock in a transaction on Thursday, June 18th. The stock was bought at an average price of $54.90 per share, for a total transaction of $27,450.00. Following 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 position. The disclosure for this purchase is available in the SEC filing. 0.49% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on CSR shares. Wall Street Zen upgraded shares of Centerspace from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Wells Fargo & Company cut their price objective on Centerspace from $70.00 to $60.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 22nd. BTIG Research lowered Centerspace from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 16th. UBS Group lifted their price target on Centerspace from $66.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. Finally, Weiss Ratings upgraded Centerspace from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 4th. One analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $63.80.

Centerspace Price Performance

CSR stock opened at $55.86 on Monday. The company has a fifty day moving average price of $56.14 and a 200-day moving average price of $60.92. The company has a market capitalization of $937.86 million, a P/E ratio of 44.33 and a beta of 0.88. Centerspace has a 52-week low of $53.81 and a 52-week high of $69.61. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.03 and a current ratio of 0.03.

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 net margin of 7.97% and a return on equity of 2.58%. The company had revenue of $65.78 million for the quarter, compared to analysts’ expectations of $66.29 million. Centerspace has set its FY 2026 guidance at 4.580-4.680 EPS. As a group, equities analysts expect that Centerspace will post 4.63 EPS 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 issued a dividend of $0.77 per share. The ex-dividend date of this dividend was Monday, June 29th. This represents a $3.08 annualized dividend and a yield of 5.5%. Centerspace’s payout ratio is presently 244.44%.

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