Centerspace (NYSE:CSR) Sees Large Volume Increase – Still a Buy?

Centerspace (NYSE:CSR) shares saw an uptick in trading volume on Wednesday . 82,872 shares were traded during mid-day trading, a decline of 1% from the previous session’s volume of 83,837 shares.The stock last traded at $61.87 and had previously closed at $61.67.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Janney Montgomery Scott upgraded shares of Centerspace from a “neutral” rating to a “buy” rating and set a $72.00 target price for the company in a research note on Wednesday, January 15th. Royal Bank of Canada reiterated an “outperform” rating and issued a $76.00 price objective on shares of Centerspace in a report on Wednesday, October 30th. Wedbush started coverage on Centerspace in a research note on Tuesday, December 17th. They set a “neutral” rating and a $72.00 target price for the company. Finally, Raymond James downgraded Centerspace from an “outperform” rating to a “market perform” rating in a report on Monday, October 21st. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Centerspace has an average rating of “Hold” and an average price target of $74.86.

Centerspace Stock Performance

The stock has a 50-day moving average price of $63.88 and a 200 day moving average price of $69.28. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.70.

Centerspace Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Monday, December 30th were given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 4.82%. The ex-dividend date was Monday, December 30th. Centerspace’s dividend payout ratio (DPR) is currently -186.33%.

Institutional Trading of Centerspace

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Centerspace by 8.2% during the 4th quarter. Vanguard Group Inc. now owns 2,594,366 shares of the company’s stock worth $171,617,000 after buying an additional 195,629 shares during the last quarter. Barclays PLC raised its stake in shares of Centerspace by 1,553.4% during the 3rd quarter. Barclays PLC now owns 102,859 shares of the company’s stock worth $7,249,000 after buying an additional 96,638 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Centerspace by 295.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 107,820 shares of the company’s stock worth $7,598,000 after buying an additional 80,566 shares during the last quarter. Norges Bank acquired a new position in shares of Centerspace during the 4th quarter worth $4,768,000. Finally, Wellington Management Group LLP raised its stake in shares of Centerspace by 6.4% during the 3rd quarter. Wellington Management Group LLP now owns 1,019,353 shares of the company’s stock worth $71,834,000 after buying an additional 61,394 shares during the last quarter. Hedge funds and other institutional investors own 79.00% of the company’s stock.

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.