Centerspace (NYSE:CSR) Sees Significant Growth in Short Interest

Centerspace (NYSE:CSR) was the recipient of a large increase in short interest during the month of September. As of September 15th, there was short interest totaling 918,128 shares, an increase of 48.7% from the August 31st total of 617,467 shares. Based on an average daily trading volume, of 456,791 shares, the short-interest ratio is currently 2.0 days. Approximately 5.5% of the shares of the stock are short sold.

Centerspace Trading Up 0.3%

NYSE:CSR traded up $0.18 during mid-day trading on Friday, hitting $54.53. 54,762 shares of the stock traded hands, compared to its average volume of 168,593. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.87. Centerspace has a 52 week low of $52.00 and a 52 week high of $69.61. The stock has a market capitalization of $915.61 million, a price-to-earnings ratio of 43.22 and a beta of 0.84. The firm’s 50 day moving average is $55.06 and its two-hundred day moving average is $58.88.

Centerspace (NYSE:CSR) last announced its quarterly earnings data on Monday, August 3rd. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.06. Centerspace had a net margin of 7.97% and a return on equity of 2.58%. The business had revenue of $65.78 million during the quarter, compared to the consensus estimate of $66.29 million. Centerspace has set its FY 2026 guidance at 4.580-4.680 EPS. On average, equities research analysts predict that Centerspace will post 4.67 earnings per share for the current year.

Centerspace Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 14th. Investors of record on Tuesday, September 29th will be issued a dividend of $0.77 per share. The ex-dividend date is Tuesday, September 29th. This represents a $3.08 dividend on an annualized basis and a yield of 5.6%. Centerspace’s payout ratio is presently 244.44%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. UBS Group lowered their price target on shares of Centerspace from $70.00 to $68.00 and set a “neutral” rating for the company in a report on Tuesday, September 15th. Piper Sandler decreased their price objective on Centerspace from $60.00 to $58.00 and set a “neutral” rating on the stock in a research report on Thursday, August 27th. Weiss Ratings lowered Centerspace from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, August 19th. BTIG Research cut Centerspace from a “buy” rating to a “neutral” rating in a report on Tuesday, June 16th. Finally, Royal Bank Of Canada cut their target price on Centerspace from $67.00 to $64.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 5th. Two investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $64.00.

Institutional Trading of Centerspace

Hedge funds and other institutional investors have recently bought and sold shares of the business. Pacific Heights Asset Management LLC bought a new stake in Centerspace during the 2nd quarter valued at about $16,857,000. Public Employees Retirement System of Ohio bought a new position in Centerspace in the 2nd quarter worth about $1,091,000. Corient Private Wealth LP bought a new position in Centerspace in the 2nd quarter worth about $574,000. Bank of America Corp DE purchased a new position in shares of Centerspace during the second quarter worth approximately $1,041,000. Finally, Jupiter Topco LLC bought a new stake in shares of Centerspace during the second quarter valued at approximately $354,000. Hedge funds and other institutional investors own 79.00% of the company’s stock.

About Centerspace

Centerspace (NYSE:CSR) is a real estate investment trust that owns, operates and manages apartment communities. The company focuses on providing rental housing and generating income through multifamily properties, with operations concentrated in select markets across the Upper Midwest and Mountain West regions of the United States.

Its portfolio includes apartment communities serving a range of residents and household needs. Centerspace is involved in property management, leasing, resident services, maintenance and the ongoing improvement of its communities.