Centerspace (NYSE:CSR) Sees Large Decline in Short Interest

Centerspace (NYSE:CSR) saw a large drop in short interest in the month of January. As of January 15th, there was short interest totaling 482,928 shares, a drop of 57.6% from the December 31st total of 1,139,372 shares. Approximately 2.9% of the company’s shares are sold short. Based on an average daily trading volume, of 140,108 shares, the short-interest ratio is currently 3.4 days. Based on an average daily trading volume, of 140,108 shares, the short-interest ratio is currently 3.4 days. Approximately 2.9% of the company’s shares are sold short.

Analysts Set New Price Targets

A number of research analysts have issued reports on CSR shares. Raymond James Financial restated a “market perform” rating on shares of Centerspace in a research report on Wednesday, November 12th. Wall Street Zen raised shares of Centerspace from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $65.00 target price on shares of Centerspace in a report on Monday, January 5th. Piper Sandler cut their price target on Centerspace from $68.00 to $66.00 and set a “neutral” rating on the stock in a research note on Monday, November 10th. Finally, UBS Group lifted their price objective on Centerspace from $63.00 to $66.00 and gave the stock a “neutral” rating in a research note on Thursday, January 8th. Two analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Centerspace has an average rating of “Hold” and an average price target of $69.86.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada raised its stake in shares of Centerspace by 199.5% during the 1st quarter. Royal Bank of Canada now owns 15,720 shares of the company’s stock worth $1,019,000 after purchasing an additional 10,472 shares in the last quarter. AQR Capital Management LLC increased its holdings in Centerspace by 32.5% during the first quarter. AQR Capital Management LLC now owns 4,891 shares of the company’s stock worth $317,000 after buying an additional 1,200 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Centerspace by 2.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,790 shares of the company’s stock worth $958,000 after acquiring an additional 287 shares in the last quarter. Millennium Management LLC raised its position in Centerspace by 307.3% during the first quarter. Millennium Management LLC now owns 184,051 shares of the company’s stock worth $11,917,000 after acquiring an additional 138,861 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in Centerspace by 17.8% in the first quarter. Goldman Sachs Group Inc. now owns 138,676 shares of the company’s stock valued at $8,979,000 after acquiring an additional 20,992 shares during the last quarter. 79.00% of the stock is currently owned by institutional investors.

Centerspace Stock Up 0.5%

CSR stock traded up $0.29 during mid-day trading on Thursday, hitting $64.26. 115,076 shares of the company were exchanged, compared to its average volume of 140,057. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.18 and a current ratio of 0.18. Centerspace has a 1-year low of $52.76 and a 1-year high of $69.15. The firm’s 50 day simple moving average is $65.51 and its 200 day simple moving average is $61.14. The firm has a market cap of $1.07 billion, a P/E ratio of 35.90 and a beta of 0.78.

Centerspace (NYSE:CSR) last announced its earnings results on Monday, November 3rd. The company reported $1.19 earnings per share for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.03). Centerspace had a return on equity of 3.52% and a net margin of 11.14%.Centerspace has set its FY 2025 guidance at 4.880-4.960 EPS. On average, sell-side analysts predict that Centerspace will post 4.94 EPS for the current fiscal year.

Centerspace Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 12th. Stockholders of record on Tuesday, December 30th were paid a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date was Tuesday, December 30th. Centerspace’s dividend payout ratio is currently 172.07%.

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.