Hsbc Holdings PLC Buys Shares of 32,621 Centerspace $CSR

Hsbc Holdings PLC bought a new stake in Centerspace (NYSE:CSR) during the second quarter, Holdings Channel reports. The institutional investor bought 32,621 shares of the company’s stock, valued at approximately $1,833,000.

Several other hedge funds also recently bought and sold shares of CSR. BlackRock Inc. bought a new stake in shares of Centerspace in the 2nd quarter valued at approximately $167,912,000. Wellington Management Group LLP lifted its stake in Centerspace by 324.4% in the fourth quarter. Wellington Management Group LLP now owns 855,869 shares of the company’s stock valued at $57,104,000 after acquiring an additional 654,209 shares during the last quarter. Voss Capital LP acquired a new stake in Centerspace in the fourth quarter valued at approximately $22,068,000. Long Pond Capital LP grew its position in Centerspace by 108.0% in the fourth quarter. Long Pond Capital LP now owns 444,101 shares of the company’s stock worth $29,630,000 after acquiring an additional 230,638 shares in the last quarter. Finally, Millennium Management LLC increased its stake in shares of Centerspace by 307.3% during the 1st quarter. Millennium Management LLC now owns 184,051 shares of the company’s stock worth $11,917,000 after purchasing an additional 138,861 shares during the last quarter. 79.00% of the stock is owned by institutional investors and hedge funds.

Centerspace Stock Performance

NYSE:CSR opened at $52.48 on Monday. The firm has a market capitalization of $881.14 million, a PE ratio of 41.65 and a beta of 0.88. Centerspace has a 1 year low of $52.43 and a 1 year high of $69.61. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.87. The firm’s fifty day simple moving average is $55.53 and its 200 day simple moving average is $60.19.

Centerspace (NYSE:CSR) last posted 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 business had revenue of $65.78 million during the quarter, compared to analysts’ expectations of $66.29 million. Centerspace has set its FY 2026 guidance at 4.580-4.680 EPS. On average, sell-side analysts anticipate that Centerspace will post 4.67 EPS for the current year.

Analysts Set New Price Targets

CSR has been the subject of several analyst reports. Weiss Ratings lowered shares of Centerspace from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, August 19th. Royal Bank Of Canada lowered their target price on shares of Centerspace from $67.00 to $64.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 5th. BTIG Research lowered Centerspace from a “buy” rating to a “neutral” rating in a report on Tuesday, June 16th. Wells Fargo & Company reduced their price target on Centerspace from $70.00 to $60.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 22nd. Finally, Wall Street Zen upgraded Centerspace from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. One equities research analyst has rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Centerspace has a consensus rating of “Hold” and an average target price of $63.40.

Insider Buying and Selling

In other Centerspace news, Director John A. Schissel purchased 500 shares of the firm’s stock in a transaction on Thursday, June 18th. The shares were purchased at an average price of $54.90 per share, for a total transaction of $27,450.00. Following the completion of the purchase, the director directly owned 17,195 shares of the company’s stock, valued at approximately $944,005.50. This represents a 2.99% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Rodney Jones-Tyson bought 1,700 shares of the stock in a transaction that occurred on Monday, June 22nd. The stock was acquired at an average cost of $55.26 per share, for a total transaction of $93,942.00. Following the purchase, the director owned 7,877 shares of the company’s stock, valued at $435,283.02. This trade represents a 27.52% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 0.49% of the company’s stock.

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.