Centerspace (NYSE:CSR – Get 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
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:CSR – Get 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
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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