Centerspace (NYSE:CSR) Short Interest Update

by · The Markets Daily

Centerspace (NYSE:CSR – Get Free Report) saw a significant drop in short interest in the month of October. As of October 15th, there was short interest totalling 127,600 shares, a drop of 9.1% from the September 30th total of 140,400 shares. Based on an average daily trading volume, of 136,000 shares, the short-interest ratio is currently 0.9 days.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on CSR shares. Piper Sandler raised their price target on 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 company a “buy” rating in a research report on Monday, August 12th. Raymond James lowered shares of Centerspace from an “outperform” rating to a “market perform” rating in a report on Monday, October 21st. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $76.00 target price on shares of Centerspace in a research report on Wednesday. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $76.00.

Check Out Our Latest Report on CSR

Centerspace Stock Down 3.7 %

Shares of NYSE CSR traded down $2.59 on Friday, reaching $67.07. 51,433 shares of the company’s stock traded hands, compared to its average volume of 105,305. The company has a quick ratio of 0.04, a current ratio of 0.05 and a debt-to-equity ratio of 0.70. The business’s 50 day simple moving average is $72.30 and its two-hundred day simple moving average is $69.92. Centerspace has a 12 month low of $48.23 and a 12 month high of $76.16. The company has a market cap of $1.11 billion, a price-to-earnings ratio of -43.25, a price-to-earnings-growth ratio of 2.09 and a beta of 0.89.

Centerspace (NYSE:CSR – Get Free Report) last released its earnings results on Monday, October 28th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate of $1.17 by ($1.57). Centerspace had a negative return on equity of 1.72% and a negative net margin of 5.57%. The company had revenue of $65.03 million during the quarter, compared to the consensus estimate of $66.35 million. During the same period last year, the firm posted $1.20 earnings per share. As a group, equities research analysts forecast that Centerspace will post 4.85 EPS for the current fiscal year.

Centerspace Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Monday, September 30th were issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 4.47%. The ex-dividend date of this dividend was Monday, September 30th. Centerspace’s dividend payout ratio is -186.33%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of CSR. Principal Financial Group Inc. lifted its stake 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 worth $5,732,000 after purchasing an additional 2,852 shares during the period. Asset Management One Co. Ltd. increased its holdings in Centerspace by 0.7% during the third quarter. Asset Management One Co. Ltd. now owns 23,116 shares of the company’s stock valued at $1,629,000 after buying an additional 170 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of Centerspace by 15.2% during the 3rd quarter. Van ECK Associates Corp now owns 2,626 shares of the company’s stock worth $186,000 after acquiring an additional 347 shares during the last quarter. abrdn plc purchased a new position in Centerspace during the third quarter valued at $210,000. Finally, State of Alaska Department of Revenue raised its stake in Centerspace by 1.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 16,110 shares of the company’s stock worth $1,134,000 after acquiring an additional 208 shares during the period. 79.00% of the stock is owned by hedge funds and other institutional investors.

About Centerspace

(Get Free Report)

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.

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