Public Employees Retirement System of Ohio Invests $1.09 Million in Centerspace $CSR

Public Employees Retirement System of Ohio bought a new stake in shares of Centerspace (NYSE:CSR) during the second quarter, Holdings Channel.com reports. The fund bought 19,425 shares of the company’s stock, valued at approximately $1,091,000.

Several other hedge funds and other institutional investors also recently modified their holdings of CSR. Covestor Ltd increased 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 buying an additional 571 shares during the period. Sound Income Strategies LLC lifted its holdings in Centerspace by 67.4% in the first quarter. Sound Income Strategies LLC now owns 626 shares of the company’s stock worth $36,000 after buying an additional 252 shares during the period. Avalon Trust Co lifted its holdings in Centerspace by 36.3% in the first quarter. Avalon Trust Co now owns 709 shares of the company’s stock worth $41,000 after buying an additional 189 shares during the period. Kestra Advisory Services LLC bought a new stake in Centerspace during the 4th quarter valued at approximately $58,000. Finally, State of Wyoming bought a new stake in Centerspace during the 2nd quarter valued at approximately $60,000. Hedge funds and other institutional investors own 79.00% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on CSR shares. UBS Group increased their target price on Centerspace from $66.00 to $70.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Wall Street Zen upgraded Centerspace from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Zacks Research lowered Centerspace from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 18th. Weiss Ratings cut Centerspace from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, August 19th. Finally, BTIG Research downgraded Centerspace from a “buy” rating to a “neutral” rating in a report on Tuesday, June 16th. One analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $62.80.

Insider Buying and Selling

In other news, Director Rodney Jones-Tyson purchased 1,700 shares of the business’s stock in a transaction dated 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 completion of the acquisition, the director directly owned 7,877 shares in the company, valued at $435,283.02. This represents a 27.52% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John Schissel purchased 500 shares of Centerspace stock in a transaction that occurred on Thursday, June 18th. The shares were purchased at an average cost of $54.90 per share, with a total value of $27,450.00. Following the transaction, the director directly owned 17,195 shares of the company’s stock, valued at $944,005.50. This represents a 2.99% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 0.49% of the company’s stock.

Centerspace Price Performance

Shares of NYSE:CSR opened at $52.74 on Wednesday. The business has a fifty day moving average price of $54.97 and a 200-day moving average price of $59.64. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.03 and a quick ratio of 0.03. The company has a market capitalization of $885.72 million, a PE ratio of 41.86 and a beta of 0.86. Centerspace has a 1-year low of $52.00 and a 1-year high of $69.61.

Centerspace (NYSE:CSR) last announced its quarterly earnings results on Monday, August 3rd. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 4.67 EPS for the current fiscal year.

Centerspace Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 14th. Stockholders of record on Tuesday, September 29th will be paid a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 5.8%. The ex-dividend date is Tuesday, September 29th. Centerspace’s dividend payout ratio is currently 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.