Centerspace (NYSE:CSR) Sees Large Increase in Short Interest

Centerspace (NYSE:CSRGet Free Report) was the target of a large increase in short interest in the month of 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 volume of 116,200 shares, the days-to-cover ratio is presently 2.4 days.

Analysts Set New Price Targets

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

View Our Latest Analysis on CSR

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. raised its stake in 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 acquiring an additional 150 shares during the period. Loomis Sayles & Co. L P increased its stake in shares of Centerspace by 3,131.6% in the third quarter. Loomis Sayles & Co. L P now owns 614 shares of the company’s stock worth $43,000 after purchasing an additional 595 shares in the last quarter. Van ECK Associates Corp raised its position in shares of 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 purchasing an additional 347 shares during the period. Versor Investments LP purchased a new stake in shares of Centerspace during the 3rd quarter valued at approximately $204,000. Finally, Victory Capital Management Inc. bought a new position in Centerspace in the 2nd quarter worth approximately $209,000. Hedge funds and other institutional investors own 79.00% of the company’s stock.

Centerspace Stock Performance

Shares of NYSE CSR traded down $0.54 during mid-day trading on Friday, reaching $60.96. 45,295 shares of the company’s stock were exchanged, compared to its average volume of 92,373. The firm has a 50-day moving average price of $68.44 and a two-hundred day moving average price of $70.37. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.05 and a quick ratio of 0.05. 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 52 week low of $52.26 and a 52 week high of $76.16.

Centerspace (NYSE:CSRGet Free Report) last announced its quarterly earnings data 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 return on equity of 1.72% and a negative net margin of 5.57%. The company 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 posted $1.20 EPS. Analysts predict that Centerspace will post 4.85 EPS for the current year.

Centerspace Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 13th. Shareholders 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 of this dividend was Monday, December 30th. Centerspace’s dividend payout ratio is currently -186.33%.

Centerspace Company Profile

(Get Free Report)

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.

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