Short Interest in Centerspace (NYSE:CSR) Rises By 12.3%

Centerspace (NYSE:CSR) was the recipient of a large increase in short interest in September. As of September 15th, there was short interest totalling 892,300 shares, an increase of 12.3% from the August 31st total of 794,800 shares. Based on an average trading volume of 141,500 shares, the short-interest ratio is currently 6.3 days.

Analyst Ratings Changes

CSR has been the topic of a number of research reports. BTIG Research upped their price target on shares of Centerspace from $69.00 to $79.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Raymond James raised their price target on Centerspace from $75.00 to $82.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Piper Sandler boosted their target price on shares of Centerspace from $64.00 to $75.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Finally, Royal Bank of Canada raised their price objective on Centerspace from $72.00 to $73.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Centerspace presently has an average rating of “Moderate Buy” and an average price target of $72.29.

Institutional Investors Weigh In On Centerspace

A number of institutional investors have recently made changes to their positions in the company. Rothschild Investment LLC bought a new position in Centerspace in the 2nd quarter valued at about $42,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Centerspace during the 1st quarter valued at $173,000. Victory Capital Management Inc. acquired a new stake in shares of Centerspace during the second quarter valued at about $209,000. XTX Topco Ltd bought a new stake in Centerspace during the 2nd quarter worth approximately $303,000. Finally, Daiwa Securities Group Inc. grew its stake in shares of Centerspace by 4.9% in the first quarter. Daiwa Securities Group Inc. now owns 4,764 shares of the company’s stock worth $272,000 after purchasing an additional 222 shares during the last quarter. Institutional investors own 79.00% of the company’s stock.

Centerspace Stock Down 0.6 %

Shares of CSR traded down $0.46 during mid-day trading on Friday, hitting $71.58. 104,252 shares of the company’s stock were exchanged, compared to its average volume of 103,706. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.04 and a quick ratio of 0.04. Centerspace has a 52 week low of $46.74 and a 52 week high of $76.16. The company has a market cap of $1.07 billion, a PE ratio of -89.48, a P/E/G ratio of 2.18 and a beta of 0.90. The company has a 50-day simple moving average of $72.78 and a 200 day simple moving average of $67.86.

Centerspace (NYSE:CSR) last released its earnings results on Monday, July 29th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($1.39). Centerspace had a negative return on equity of 0.67% and a negative net margin of 2.16%. The company had revenue of $65.04 million for the quarter, compared to the consensus estimate of $65.90 million. During the same quarter in the previous year, the company posted $1.28 EPS. On average, research analysts forecast that Centerspace will post 4.83 earnings per share for the current fiscal year.

Centerspace Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Monday, September 30th will be given a dividend of $0.75 per share. The ex-dividend date is Monday, September 30th. This represents a $3.00 dividend on an annualized basis and a yield of 4.19%. Centerspace’s dividend payout ratio (DPR) is -375.00%.

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.