Centerspace (NYSE:CSR) Short Interest Update

Centerspace (NYSE:CSR) saw a significant growth in short interest in the month of 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 currently 2.4 days.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on CSR shares. Wedbush assumed 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 price target on the stock in a report on Wednesday. Raymond James downgraded Centerspace from an “outperform” rating to a “market perform” rating in a research note on Monday, October 21st. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $76.00 target price on shares of Centerspace in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $74.86.

Centerspace Trading Down 0.9 %

NYSE:CSR traded down $0.54 on Friday, reaching $60.95. 85,618 shares of the stock traded hands, compared to its average volume of 96,183. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of -37.86, a price-to-earnings-growth ratio of 1.74 and a beta of 0.91. Centerspace has a 1-year low of $52.26 and a 1-year high of $76.16. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.70. The company’s 50 day moving average is $68.44 and its 200-day moving average is $70.37.

Centerspace (NYSE:CSR) last announced its earnings results on Monday, October 28th. The company reported ($0.40) EPS 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 business had revenue of $65.03 million for the quarter, compared to the consensus estimate of $66.35 million. During the same quarter in the previous year, the company earned $1.20 EPS. Equities research analysts anticipate that Centerspace will post 4.85 EPS for the current fiscal year.

Centerspace Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Monday, December 30th were given 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 payout ratio is -186.34%.

Hedge Funds Weigh In On Centerspace

A number of large investors have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. boosted its stake in Centerspace by 35.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 579 shares of the company’s stock valued at $41,000 after purchasing an additional 150 shares during the last quarter. Loomis Sayles & Co. L P raised its position in Centerspace by 3,131.6% in the 3rd quarter. Loomis Sayles & Co. L P now owns 614 shares of the company’s stock valued at $43,000 after buying an additional 595 shares during the last quarter. Van ECK Associates Corp raised its position in Centerspace by 15.2% in the 3rd quarter. Van ECK Associates Corp now owns 2,626 shares of the company’s stock valued at $186,000 after buying an additional 347 shares during the last quarter. Versor Investments LP bought a new position in Centerspace during the 3rd quarter valued at $204,000. Finally, Victory Capital Management Inc. purchased a new position in Centerspace during the 2nd quarter worth $209,000. 79.00% of the stock is currently owned by institutional investors.

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.