Centerspace (NYSE:CSR) Sees Large Volume Increase – Here’s Why

Centerspace (NYSE:CSR) shares saw an uptick in trading volume on Wednesday . 348,577 shares traded hands during trading, an increase of 221% from the previous session’s volume of 108,629 shares.The stock last traded at $66.4350 and had previously closed at $65.99.

Analyst Ratings Changes

Several brokerages have recently commented on CSR. Raymond James Financial reaffirmed a “market perform” rating on shares of Centerspace in a research report on Wednesday. Wells Fargo & Company decreased their price objective on Centerspace from $68.00 to $60.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 27th. UBS Group upped their target price on Centerspace from $60.00 to $63.00 and gave the company a “neutral” rating in a report on Monday. Cantor Fitzgerald restated a “neutral” rating on shares of Centerspace in a report on Wednesday. Finally, Weiss Ratings raised Centerspace from a “sell (d+)” rating to a “hold (c)” rating in a research note on Friday. Three investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $68.11.

Centerspace Stock Up 1.2%

The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.97. The company has a market capitalization of $1.12 billion, a P/E ratio of -37.12 and a beta of 0.75. The firm has a 50-day moving average price of $59.24 and a two-hundred day moving average price of $59.66.

Centerspace (NYSE:CSR) last announced its quarterly earnings data on Monday, November 3rd. The company reported $1.19 EPS for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.03). Centerspace had a negative net margin of 9.13% and a negative return on equity of 2.81%. The company had revenue of $71.40 million for the quarter, compared to analyst estimates of $69.07 million. Centerspace has set its FY 2025 guidance at 4.880-4.960 EPS. Equities research analysts anticipate that Centerspace will post 4.94 EPS for the current fiscal year.

Centerspace Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Monday, September 29th were paid a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 4.6%. The ex-dividend date was Monday, September 29th. Centerspace’s dividend payout ratio is currently 172.07%.

Institutional Trading of Centerspace

Large investors have recently bought and sold shares of the stock. Hilltop National Bank bought a new position in Centerspace in the 2nd quarter valued at $29,000. Hantz Financial Services Inc. raised its position in shares of Centerspace by 998.3% in the 3rd quarter. Hantz Financial Services Inc. now owns 659 shares of the company’s stock valued at $39,000 after acquiring an additional 599 shares during the period. Wolff Wiese Magana LLC boosted its position in shares of Centerspace by 897.3% during the second quarter. Wolff Wiese Magana LLC now owns 748 shares of the company’s stock worth $45,000 after purchasing an additional 673 shares in the last quarter. New Age Alpha Advisors LLC acquired a new position in Centerspace in the first quarter valued at about $86,000. Finally, Versant Capital Management Inc grew its position in shares of Centerspace by 488.4% in the 3rd quarter. Versant Capital Management Inc now owns 1,630 shares of the company’s stock valued at $96,000 after purchasing an additional 1,353 shares during the period. 79.00% of the stock is currently owned by institutional investors.

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.