Centerspace (NYSE:CSR) Short Interest Update

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

Centerspace Price Performance

CSR traded down $0.54 during trading on Friday, hitting $60.95. The company’s stock had a trading volume of 53,838 shares, compared to its average volume of 92,508. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of -37.88, a price-to-earnings-growth ratio of 1.74 and a beta of 0.91. The firm’s 50 day moving average price is $68.44 and its two-hundred day moving average price is $70.37. Centerspace has a 12 month low of $52.26 and a 12 month high of $76.16.

Centerspace (NYSE:CSR) last released its quarterly earnings results on Monday, October 28th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $65.03 million during the quarter, compared to the consensus estimate of $66.35 million. During the same period in the prior year, the firm earned $1.20 earnings per share. Sell-side analysts forecast that Centerspace will post 4.85 earnings per share for the current fiscal year.

Centerspace Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Janney Montgomery Scott raised Centerspace from a “neutral” rating to a “buy” rating and set a $72.00 price objective on the stock in a report on Wednesday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $76.00 price target on shares of Centerspace in a research note on Wednesday, October 30th. Raymond James lowered Centerspace from an “outperform” rating to a “market perform” rating in a research note on Monday, October 21st. Finally, Wedbush began coverage on shares of Centerspace in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $72.00 target price on the stock. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $74.86.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Centerspace by 35.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 579 shares of the company’s stock valued at $41,000 after buying an additional 150 shares during the period. Loomis Sayles & Co. L P boosted its holdings in Centerspace by 3,131.6% in the third quarter. Loomis Sayles & Co. L P now owns 614 shares of the company’s stock valued at $43,000 after acquiring an additional 595 shares during the last quarter. Van ECK Associates Corp boosted its holdings in Centerspace by 15.2% in the third quarter. Van ECK Associates Corp now owns 2,626 shares of the company’s stock valued at $186,000 after acquiring an additional 347 shares during the last quarter. Versor Investments LP bought a new stake in Centerspace during the 3rd quarter worth about $204,000. Finally, Victory Capital Management Inc. bought a new stake in Centerspace during the 2nd quarter worth about $209,000. Institutional investors own 79.00% of the company’s stock.

About Centerspace

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.