Centerspace (NYSE:CSR) Short Interest Update

Centerspace (NYSE:CSR) was the recipient of a significant increase in short interest during the month of October. As of October 15th, there was short interest totaling 465,700 shares, an increase of 40.3% from the September 30th total of 332,000 shares. Based on an average trading volume of 115,800 shares, the short-interest ratio is presently 4.0 days. Approximately 2.8% of the shares of the company are sold short. Approximately 2.8% of the shares of the company are sold short. Based on an average trading volume of 115,800 shares, the short-interest ratio is presently 4.0 days.

Insider Activity at Centerspace

In related news, Director John A. Schissel purchased 500 shares of Centerspace stock in a transaction that occurred on Friday, August 8th. The stock was purchased at an average cost of $54.00 per share, with a total value of $27,000.00. Following the completion of the transaction, the director directly owned 14,398 shares in the company, valued at approximately $777,492. The trade was a 3.60% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Anne Olson purchased 750 shares of Centerspace stock in a transaction that occurred on Friday, August 8th. The stock was bought at an average cost of $55.10 per share, with a total value of $41,325.00. Following the completion of the transaction, the chief executive officer owned 19,496 shares of the company’s stock, valued at $1,074,229.60. The trade was a 4.00% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 1,750 shares of company stock valued at $95,325 over the last ninety days. Insiders own 0.44% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Amalgamated Bank grew its position in shares of Centerspace by 4.1% in the third quarter. Amalgamated Bank now owns 4,927 shares of the company’s stock valued at $290,000 after purchasing an additional 194 shares during the last quarter. State of Tennessee Department of Treasury grew its position in shares of Centerspace by 3.7% in the second quarter. State of Tennessee Department of Treasury now owns 6,877 shares of the company’s stock valued at $414,000 after purchasing an additional 247 shares during the last quarter. Capital Square LLC grew its position in shares of Centerspace by 3.3% in the second quarter. Capital Square LLC now owns 8,367 shares of the company’s stock valued at $503,000 after purchasing an additional 271 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Centerspace by 2.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,790 shares of the company’s stock valued at $958,000 after purchasing an additional 287 shares during the last quarter. Finally, Hsbc Holdings PLC grew its position in shares of Centerspace by 2.2% in the first quarter. Hsbc Holdings PLC now owns 13,863 shares of the company’s stock valued at $898,000 after purchasing an additional 294 shares during the last quarter. 79.00% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on CSR shares. Wells Fargo & Company reduced their price target on shares of Centerspace from $68.00 to $60.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 27th. Weiss Ratings reissued a “sell (d+)” rating on shares of Centerspace in a research report on Wednesday, October 8th. Cantor Fitzgerald began coverage on shares of Centerspace in a report on Wednesday, October 1st. They issued a “neutral” rating and a $62.00 target price for the company. Wall Street Zen cut shares of Centerspace from a “hold” rating to a “sell” rating in a report on Sunday, September 7th. Finally, UBS Group reduced their target price on shares of Centerspace from $67.00 to $60.00 and set a “neutral” rating for the company in a report on Tuesday, July 15th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $68.00.

Centerspace Stock Performance

NYSE CSR traded down $0.22 during trading hours on Monday, hitting $59.03. 131,157 shares of the stock were exchanged, compared to its average volume of 105,193. The company has a market cap of $989.10 million, a price-to-earnings ratio of -32.79 and a beta of 0.73. Centerspace has a 12-month low of $52.76 and a 12-month high of $75.92. The stock has a 50-day moving average of $58.93 and a 200 day moving average of $59.59. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.97.

Centerspace (NYSE:CSR) last posted its quarterly earnings results on Monday, November 3rd. The company reported $1.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.22 by ($0.03). Centerspace had a negative return on equity of 2.81% and a negative net margin of 9.13%. Centerspace has set its FY 2025 guidance at 4.880-4.960 EPS. As a group, equities research analysts forecast that Centerspace will post 4.94 earnings per share for the current year.

Centerspace Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Monday, September 29th were given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 5.2%. The ex-dividend date was Monday, September 29th. Centerspace’s dividend payout ratio is presently -171.11%.

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.