Centerspace (NYSE:CSR – Get Free Report) was the target of a significant decrease in short interest in September. As of September 30th, there was short interest totalling 140,400 shares, a decrease of 84.3% from the September 15th total of 892,300 shares. Based on an average daily trading volume, of 145,300 shares, the days-to-cover ratio is presently 1.0 days.
Wall Street Analysts Forecast Growth
A number of equities analysts have weighed in on CSR shares. Royal Bank of Canada boosted their price objective on Centerspace from $72.00 to $73.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Piper Sandler upped their price objective on shares of Centerspace from $64.00 to $75.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. BTIG Research lifted their target price 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. Finally, Raymond James increased their price target on shares of Centerspace from $75.00 to $82.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Centerspace presently has a consensus rating of “Moderate Buy” and an average price target of $73.67.
Centerspace Stock Down 1.0 %
Shares of NYSE CSR traded down $0.69 during mid-day trading on Thursday, hitting $69.57. The company had a trading volume of 141,463 shares, compared to its average volume of 103,857. Centerspace has a 1-year low of $46.74 and a 1-year high of $76.16. The company has a market capitalization of $1.04 billion, a PE ratio of -86.96, a price-to-earnings-growth ratio of 2.18 and a beta of 0.89. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.04 and a quick ratio of 0.04. The business’s 50-day simple moving average is $72.86 and its 200 day simple moving average is $68.57.
Centerspace (NYSE:CSR – Get Free Report) last issued its earnings results on Monday, July 29th. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of $1.20 by ($1.39). Centerspace had a negative net margin of 2.16% and a negative return on equity of 0.67%. The firm had revenue of $65.04 million during the quarter, compared to analyst estimates of $65.90 million. During the same period last year, the business earned $1.28 EPS. On average, analysts predict that Centerspace will post 4.83 earnings per share for the current year.
Centerspace Announces Dividend
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 issued 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 4.31%. Centerspace’s payout ratio is currently -375.00%.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of CSR. UniSuper Management Pty Ltd lifted its stake in Centerspace by 199.4% in the first quarter. UniSuper Management Pty Ltd now owns 12,785 shares of the company’s stock valued at $731,000 after buying an additional 8,515 shares during the last quarter. Boston Partners acquired a new stake in Centerspace during the 1st quarter worth $545,000. Price T Rowe Associates Inc. MD boosted its stake in Centerspace by 5.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,191 shares of the company’s stock worth $697,000 after purchasing an additional 652 shares during the period. BTC Capital Management Inc. purchased a new position in Centerspace during the 1st quarter worth $279,000. Finally, Janus Henderson Group PLC increased its stake in Centerspace by 1,438.2% in the first quarter. Janus Henderson Group PLC now owns 97,940 shares of the company’s stock valued at $5,597,000 after purchasing an additional 91,573 shares during the period. 79.00% of the stock is owned by hedge funds and other institutional investors.
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.