Centerspace (NYSE:CSR) Short Interest Update

Centerspace (NYSE:CSR) was the recipient of a significant decrease in short interest in the month of January. As of January 31st, there was short interest totalling 236,600 shares, a decrease of 5.7% from the January 15th total of 250,800 shares. Based on an average daily volume of 103,200 shares, the days-to-cover ratio is currently 2.3 days.

Centerspace Stock Up 0.1 %

Shares of CSR stock opened at $62.42 on Wednesday. The stock has a market cap of $1.03 billion, a P/E ratio of -38.77 and a beta of 0.90. Centerspace has a one year low of $54.22 and a one year high of $76.16. The stock has a fifty day moving average price of $63.42 and a 200 day moving average price of $69.12. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.05 and a quick ratio of 0.05.

Centerspace (NYSE:CSR) last issued its earnings results on Tuesday, February 18th. The company reported $1.21 EPS for the quarter, topping the consensus estimate of ($0.15) by $1.36. Centerspace had a negative return on equity of 1.72% and a negative net margin of 5.57%. Analysts predict that Centerspace will post 4.85 earnings per share for the current year.

Centerspace Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Shareholders 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 yield of 4.81%. Centerspace’s dividend payout ratio is currently -186.33%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CSR. Royal Bank of Canada reissued an “outperform” rating and issued a $76.00 price objective on shares of Centerspace in a research report on Wednesday, October 30th. Janney Montgomery Scott raised Centerspace from a “neutral” rating to a “buy” rating and set a $72.00 price objective for the company in a research report on Wednesday, January 15th. Finally, Wedbush began coverage on Centerspace in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $72.00 price objective for the company. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $74.86.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Smartleaf Asset Management LLC raised its stake in Centerspace by 370.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 381 shares of the company’s stock worth $25,000 after acquiring an additional 300 shares in the last quarter. Sterling Capital Management LLC raised its stake in Centerspace by 903.8% during the fourth quarter. Sterling Capital Management LLC now owns 522 shares of the company’s stock worth $35,000 after acquiring an additional 470 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Centerspace by 35.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 579 shares of the company’s stock worth $41,000 after acquiring an additional 150 shares in the last quarter. Loomis Sayles & Co. L P raised its stake in Centerspace by 3,131.6% during the third quarter. Loomis Sayles & Co. L P now owns 614 shares of the company’s stock worth $43,000 after acquiring an additional 595 shares in the last quarter. Finally, KBC Group NV raised its stake in Centerspace by 75.9% during the fourth quarter. KBC Group NV now owns 1,080 shares of the company’s stock worth $71,000 after acquiring an additional 466 shares in the last quarter. 79.00% of the stock is currently owned by institutional investors and hedge funds.

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.