Short Interest in Centerspace (NYSE:CSR) Grows By 40.4%

Centerspace (NYSE:CSR) was the recipient of a large increase in short interest in the month of December. As of December 15th, there was short interest totaling 963,675 shares, an increase of 40.4% from the November 30th total of 686,357 shares. Based on an average trading volume of 203,644 shares, the short-interest ratio is currently 4.7 days. Approximately 5.8% of the shares of the stock are sold short. Approximately 5.8% of the shares of the stock are sold short. Based on an average trading volume of 203,644 shares, the short-interest ratio is currently 4.7 days.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CSR. Wall Street Zen upgraded Centerspace from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. UBS Group upped their price objective on shares of Centerspace from $60.00 to $63.00 and gave the stock a “neutral” rating in a research report on Monday, November 10th. Raymond James Financial reissued a “market perform” rating on shares of Centerspace in a report on Wednesday, November 12th. Weiss Ratings restated a “hold (c)” rating on shares of Centerspace in a research report on Monday, December 15th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Centerspace in a report on Wednesday, November 12th. Three analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $69.38.

Centerspace Stock Up 0.8%

Shares of NYSE CSR opened at $67.78 on Tuesday. The company has a market cap of $1.13 billion, a price-to-earnings ratio of 37.86 and a beta of 0.78. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 0.96. Centerspace has a 12 month low of $52.76 and a 12 month high of $69.15. The stock has a 50-day moving average price of $63.93 and a two-hundred day moving average price of $60.49.

Centerspace (NYSE:CSR) last announced its quarterly earnings results on Monday, November 3rd. The company reported $1.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.22 by ($0.03). Centerspace had a net margin of 11.14% and a return on equity of 3.52%. Centerspace has set its FY 2025 guidance at 4.880-4.960 EPS. As a group, analysts forecast that Centerspace will post 4.94 earnings per share for the current fiscal year.

Centerspace Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 12th. Stockholders of record on Tuesday, December 30th will be issued a dividend of $0.77 per share. The ex-dividend date is Tuesday, December 30th. This represents a $3.08 annualized dividend and a dividend yield of 4.5%. Centerspace’s dividend payout ratio is 172.07%.

Institutional Investors Weigh In On Centerspace

A number of hedge funds and other institutional investors have recently bought and sold shares of CSR. Amalgamated Bank raised its position in Centerspace by 4.1% in the third quarter. Amalgamated Bank now owns 4,927 shares of the company’s stock valued at $290,000 after purchasing an additional 194 shares during the last quarter. State of Tennessee Department of Treasury increased its stake in shares of Centerspace by 3.7% in the second quarter. State of Tennessee Department of Treasury now owns 6,877 shares of the company’s stock valued at $414,000 after buying an additional 247 shares during the period. Capital Square LLC raised its holdings in Centerspace by 3.0% in the 3rd quarter. Capital Square LLC now owns 8,620 shares of the company’s stock valued at $508,000 after buying an additional 253 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Centerspace by 2.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,790 shares of the company’s stock worth $958,000 after buying an additional 287 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in Centerspace by 3.6% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,641 shares of the company’s stock worth $580,000 after buying an additional 331 shares during the period. Institutional investors own 79.00% of the company’s stock.

About Centerspace

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. Centerspace was named a Top Workplace for the fourth consecutive year in 2023 by the Minneapolis Star Tribune.