Centerspace (NYSE:CSR) Sees Large Volume Increase – What’s Next?

Shares of Centerspace (NYSE:CSR) saw unusually-strong trading volume on Tuesday . Approximately 216,684 shares changed hands during mid-day trading, an increase of 71% from the previous session’s volume of 126,739 shares.The stock last traded at $58.6850 and had previously closed at $58.02.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on CSR shares. Wells Fargo & Company lowered their price objective on shares of Centerspace from $74.00 to $69.00 and set an “equal weight” rating for the company in a research report on Thursday, March 5th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $65.00 price objective on shares of Centerspace in a research report on Monday, January 5th. Piper Sandler upped their target price on shares of Centerspace from $66.00 to $69.00 and gave the stock a “neutral” rating in a research note on Thursday, February 19th. UBS Group increased their target price on Centerspace from $63.00 to $66.00 and gave the stock a “neutral” rating in a report on Thursday, January 8th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Centerspace in a research note on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, Centerspace has a consensus rating of “Hold” and an average price target of $69.57.

Centerspace Trading Up 0.6%

The stock has a market cap of $979.27 million, a price-to-earnings ratio of 58.36 and a beta of 0.79. The business has a 50-day simple moving average of $63.06 and a two-hundred day simple moving average of $62.66. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.04 and a current ratio of 0.04.

Centerspace (NYSE:CSR) last posted its quarterly earnings data on Tuesday, February 17th. The company reported ($1.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.21 by ($2.31). The business had revenue of $66.62 million during the quarter, compared to analyst estimates of $69.77 million. Centerspace had a net margin of 6.25% and a return on equity of 2.00%. Centerspace has set its FY 2026 guidance at 4.810-5.050 EPS. As a group, research analysts forecast that Centerspace will post 4.94 EPS for the current year.

Centerspace Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 14th. Shareholders of record on Monday, March 30th will be paid a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 5.3%. The ex-dividend date is Monday, March 30th. Centerspace’s payout ratio is presently 308.00%.

Hedge Funds Weigh In On Centerspace

A number of large investors have recently modified their holdings of CSR. Covestor Ltd grew its holdings in shares of Centerspace by 57,100.0% in the 4th quarter. Covestor Ltd now owns 572 shares of the company’s stock valued at $38,000 after acquiring an additional 571 shares in the last quarter. Hantz Financial Services Inc. raised its holdings in Centerspace by 998.3% during the third quarter. Hantz Financial Services Inc. now owns 659 shares of the company’s stock worth $39,000 after acquiring an additional 599 shares in the last quarter. Danske Bank A S acquired a new position in Centerspace during the fourth quarter valued at approximately $47,000. Kestra Advisory Services LLC acquired a new position in Centerspace during the fourth quarter valued at approximately $58,000. Finally, GAMMA Investing LLC grew its stake in Centerspace by 107.0% in the fourth quarter. GAMMA Investing LLC now owns 942 shares of the company’s stock valued at $63,000 after purchasing an additional 487 shares in the last quarter. 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. Centerspace was named a Top Workplace for the fourth consecutive year in 2023 by the Minneapolis Star Tribune.