Insider Buying: Centerspace (NYSE:CSR) Director Buys 900 Shares of Stock

Centerspace (NYSE:CSRGet Rating) Director Mary J. Twinem bought 900 shares of the stock in a transaction on Wednesday, June 1st. The shares were bought at an average price of $82.48 per share, for a total transaction of $74,232.00. Following the acquisition, the director now owns 6,577 shares in the company, valued at approximately $542,470.96. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Centerspace stock traded up $1.00 during midday trading on Wednesday, reaching $83.98. The stock had a trading volume of 216,130 shares, compared to its average volume of 77,976. Centerspace has a twelve month low of $71.10 and a twelve month high of $112.27. The stock has a market capitalization of $1.29 billion, a PE ratio of -133.84, a price-to-earnings-growth ratio of 2.75 and a beta of 0.96. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.04 and a current ratio of 0.04. The stock’s 50-day simple moving average is $92.02 and its 200 day simple moving average is $97.51.

Centerspace (NYSE:CSRGet Rating) last issued its earnings results on Monday, May 2nd. The company reported ($0.68) earnings per share for the quarter, missing analysts’ consensus estimates of $1.06 by ($1.74). Centerspace had a negative net margin of 1.74% and a negative return on equity of 0.45%. During the same period last year, the firm posted $0.95 earnings per share. Equities analysts predict that Centerspace will post 4.38 earnings per share for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in the business. Phocas Financial Corp. raised its position in Centerspace by 15.9% in the first quarter. Phocas Financial Corp. now owns 10,389 shares of the company’s stock valued at $1,019,000 after purchasing an additional 1,422 shares during the period. Meiji Yasuda Asset Management Co Ltd. purchased a new stake in shares of Centerspace during the first quarter worth about $246,000. Wellington Management Group LLP increased its position in shares of Centerspace by 27.8% during the first quarter. Wellington Management Group LLP now owns 1,180,660 shares of the company’s stock worth $115,846,000 after acquiring an additional 257,030 shares during the last quarter. State Street Corp increased its position in shares of Centerspace by 15.6% during the first quarter. State Street Corp now owns 887,776 shares of the company’s stock worth $87,742,000 after acquiring an additional 119,848 shares during the last quarter. Finally, Vident Investment Advisory LLC increased its position in shares of Centerspace by 0.9% during the first quarter. Vident Investment Advisory LLC now owns 16,947 shares of the company’s stock worth $1,663,000 after acquiring an additional 146 shares during the last quarter. 80.68% of the stock is currently owned by institutional investors.

Several research firms have recently issued reports on CSR. Zacks Investment Research upgraded Centerspace from a “hold” rating to a “buy” rating and set a $94.00 price objective on the stock in a report on Monday. Royal Bank of Canada assumed coverage on Centerspace in a report on Friday, March 11th. They set a “sector perform” rating and a $105.00 price objective on the stock. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Centerspace currently has an average rating of “Buy” and a consensus price target of $107.00.

Centerspace Company Profile (Get Rating)

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 June 30, 2021, Centerspace owned 62 apartment communities consisting of 11,579 apartment homes located in Colorado, Minnesota, Montana, Nebraska, North Dakota, and South Dakota.

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