Centerspace (NYSE:CSR) Short Interest Update

Centerspace (NYSE:CSR) saw a significant drop in short interest in January. As of January 31st, there was short interest totalling 236,600 shares, a drop of 5.7% from the January 15th total of 250,800 shares. Based on an average daily trading volume, of 103,200 shares, the days-to-cover ratio is presently 2.3 days.

Centerspace Stock Performance

Shares of NYSE:CSR opened at $62.42 on Wednesday. The stock has a market capitalization of $1.03 billion, a P/E ratio of -38.77 and a beta of 0.90. Centerspace has a 1-year low of $54.22 and a 1-year high of $76.16. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.70. The business has a 50-day moving average price of $63.42 and a two-hundred day moving average price of $69.12.

Centerspace (NYSE:CSR) last posted its earnings results on Tuesday, February 18th. The company reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $1.36. Centerspace had a negative return on equity of 1.72% and a negative net margin of 5.57%. Equities analysts predict that Centerspace will post 4.85 earnings per share for the current year.

Centerspace Dividend Announcement

The business 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. The ex-dividend date was Monday, December 30th. This represents a $3.00 annualized dividend and a dividend yield of 4.81%. Centerspace’s payout ratio is currently -186.33%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CSR. Wedbush began coverage on Centerspace in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $72.00 target price for the company. Janney Montgomery Scott upgraded 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. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $76.00 target price on shares of Centerspace in a research note on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $74.86.

Hedge Funds Weigh In On Centerspace

Institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. grew its position in shares of Centerspace by 25.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 193,242 shares of the company’s stock worth $13,618,000 after buying an additional 39,380 shares during the period. Geode Capital Management LLC grew its position in shares of Centerspace by 3.1% in the 3rd quarter. Geode Capital Management LLC now owns 387,517 shares of the company’s stock valued at $27,314,000 after purchasing an additional 11,749 shares during the period. Captrust Financial Advisors acquired a new position in shares of Centerspace in the 3rd quarter valued at approximately $234,000. Principal Financial Group Inc. grew its position in shares of Centerspace by 3.6% in the 3rd quarter. Principal Financial Group Inc. now owns 81,338 shares of the company’s stock valued at $5,732,000 after purchasing an additional 2,852 shares during the period. Finally, Intech Investment Management LLC acquired a new position in shares of Centerspace in the 3rd quarter valued at approximately $403,000. 79.00% of the stock is currently owned by institutional investors and hedge funds.

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.