Short Interest in Centerspace (NYSE:CSR) Decreases By 9.1%

Centerspace (NYSE:CSR) was the recipient of a significant decline in short interest in October. As of October 15th, there was short interest totalling 127,600 shares, a decline of 9.1% from the September 30th total of 140,400 shares. Based on an average trading volume of 136,000 shares, the short-interest ratio is currently 0.9 days.

Wall Street Analyst Weigh In

Several research firms have commented on CSR. Royal Bank of Canada reissued an “outperform” rating and set a $76.00 price target on shares of Centerspace in a research report on Wednesday. BTIG Research raised their target price on shares of Centerspace from $69.00 to $79.00 and gave the company a “buy” rating in a research note on Monday, August 12th. Piper Sandler lifted their price target on shares of Centerspace from $64.00 to $75.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Finally, Raymond James lowered Centerspace from an “outperform” rating to a “market perform” rating in a report on Monday, October 21st. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $76.00.

Centerspace Price Performance

CSR stock traded down $2.59 during mid-day trading on Friday, reaching $67.07. 51,433 shares of the company’s stock were exchanged, compared to its average volume of 105,305. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.05 and a quick ratio of 0.04. The company has a market cap of $1.11 billion, a price-to-earnings ratio of -43.25, a price-to-earnings-growth ratio of 2.09 and a beta of 0.89. The stock’s 50 day moving average is $72.30 and its 200 day moving average is $69.92. Centerspace has a 12-month low of $48.23 and a 12-month high of $76.16.

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

Centerspace Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Monday, September 30th were given a dividend of $0.75 per share. The ex-dividend date was Monday, September 30th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 4.47%. Centerspace’s payout ratio is currently -186.33%.

Institutional Trading of Centerspace

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Centerspace by 0.4% in the first quarter. Vanguard Group Inc. now owns 2,401,497 shares of the company’s stock valued at $137,222,000 after buying an additional 9,984 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Centerspace by 6.9% during the second quarter. Dimensional Fund Advisors LP now owns 223,770 shares of the company’s stock worth $15,134,000 after purchasing an additional 14,440 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Centerspace by 0.4% during the second quarter. Bank of New York Mellon Corp now owns 139,188 shares of the company’s stock worth $9,413,000 after purchasing an additional 605 shares in the last quarter. Westwood Holdings Group Inc. grew its holdings in shares of Centerspace by 10.8% in the second quarter. Westwood Holdings Group Inc. now owns 99,718 shares of the company’s stock valued at $6,744,000 after purchasing an additional 9,718 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in Centerspace by 1,438.2% during the 1st quarter. Janus Henderson Group PLC now owns 97,940 shares of the company’s stock worth $5,597,000 after buying an additional 91,573 shares in the last quarter. Hedge funds and other institutional investors own 79.00% 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.