Centerspace (NYSE:CSR) Short Interest Update

Centerspace (NYSE:CSR) was the recipient of a large increase in short interest in December. As of December 31st, there was short interest totalling 274,200 shares, an increase of 59.6% from the December 15th total of 171,800 shares. Based on an average daily trading volume, of 116,200 shares, the days-to-cover ratio is currently 2.4 days.

Analyst Ratings Changes

CSR has been the subject of several research reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $76.00 target price on shares of Centerspace in a research report on Wednesday, October 30th. Wedbush began coverage on Centerspace in a research report on Tuesday, December 17th. They set a “neutral” rating and a $72.00 price objective on the stock. Janney Montgomery Scott upgraded Centerspace from a “neutral” rating to a “buy” rating and set a $72.00 target price for the company in a research report on Wednesday. Finally, Raymond James cut shares of Centerspace from an “outperform” rating to a “market perform” rating in a research report on Monday, October 21st. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Centerspace currently has an average rating of “Hold” and an average target price of $74.86.

Hedge Funds Weigh In On Centerspace

A number of hedge funds have recently modified their holdings of CSR. Wellington Management Group LLP grew its stake in shares of Centerspace by 6.4% in the third quarter. Wellington Management Group LLP now owns 1,019,353 shares of the company’s stock worth $71,834,000 after purchasing an additional 61,394 shares during the last quarter. State Street Corp grew its position in shares of Centerspace by 0.5% in the 3rd quarter. State Street Corp now owns 897,749 shares of the company’s stock worth $63,931,000 after buying an additional 4,263 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Centerspace by 3.1% in the 3rd quarter. Geode Capital Management LLC now owns 387,517 shares of the company’s stock worth $27,314,000 after buying an additional 11,749 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Centerspace by 9.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 275,511 shares of the company’s stock valued at $19,415,000 after buying an additional 23,839 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Centerspace by 6.9% during the second quarter. Dimensional Fund Advisors LP now owns 223,770 shares of the company’s stock valued at $15,134,000 after acquiring an additional 14,440 shares in the last quarter. Hedge funds and other institutional investors own 79.00% of the company’s stock.

Centerspace Trading Down 0.9 %

Shares of NYSE CSR traded down $0.54 during midday trading on Friday, reaching $60.96. The company had a trading volume of 45,295 shares, compared to its average volume of 92,373. The stock has a market cap of $1.01 billion, a PE ratio of -37.86, a price-to-earnings-growth ratio of 1.74 and a beta of 0.91. Centerspace has a one year low of $52.26 and a one year high of $76.16. The firm’s fifty day moving average price is $68.44 and its 200-day moving average price is $70.37. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.70.

Centerspace (NYSE:CSR) last announced its quarterly earnings data on Monday, October 28th. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of $1.17 by ($1.57). Centerspace had a negative net margin of 5.57% and a negative return on equity of 1.72%. The company had revenue of $65.03 million during the quarter, compared to the consensus estimate of $66.35 million. During the same quarter in the previous year, the firm posted $1.20 EPS. On average, equities research analysts anticipate that Centerspace will post 4.85 earnings per share for the current year.

Centerspace Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Monday, December 30th were issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 4.92%. The ex-dividend date was Monday, December 30th. Centerspace’s dividend payout ratio (DPR) is presently -186.33%.

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.