Centerspace (NYSE:CSR) Sees Large Volume Increase – Should You Buy?

Centerspace (NYSE:CSR) shares saw unusually-strong trading volume on Friday . Approximately 85,855 shares changed hands during trading, a decline of 2% from the previous session’s volume of 87,797 shares.The stock last traded at $64.86 and had previously closed at $64.75.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on CSR shares. Janney Montgomery Scott raised shares of Centerspace from a “neutral” rating to a “buy” rating and set a $72.00 price target on the stock in a research note on Wednesday, January 15th. Wedbush began coverage on Centerspace in a report on Tuesday, December 17th. They set a “neutral” rating and a $72.00 target price on the stock. Finally, Royal Bank of Canada lifted their price objective on Centerspace from $72.00 to $73.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $74.43.

Centerspace Stock Performance

The company has a market cap of $1.09 billion, a PE ratio of -51.37 and a beta of 0.91. The stock’s 50 day simple moving average is $62.84 and its two-hundred day simple moving average is $68.59. The company has a quick ratio of 0.05, a current ratio of 0.04 and a debt-to-equity ratio of 0.74.

Centerspace (NYSE:CSR) last announced its quarterly earnings results on Tuesday, February 18th. The company reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $1.36. Centerspace had a negative net margin of 4.34% and a negative return on equity of 1.34%. The firm had revenue of $66.41 million for the quarter, compared to analysts’ expectations of $65.96 million. As a group, research analysts anticipate that Centerspace will post 4.94 earnings per share for the current year.

Centerspace Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 8th. Investors of record on Friday, March 28th will be given a dividend of $0.77 per share. The ex-dividend date is Friday, March 28th. This is a positive change from Centerspace’s previous quarterly dividend of $0.75. This represents a $3.08 annualized dividend and a yield of 4.73%. Centerspace’s payout ratio is -242.52%.

Institutional Trading of Centerspace

Hedge funds have recently made changes to their positions in the company. Phocas Financial Corp. increased its position in shares of Centerspace by 8.4% during the fourth quarter. Phocas Financial Corp. now owns 58,483 shares of the company’s stock worth $3,869,000 after acquiring an additional 4,542 shares during the last quarter. Employees Retirement System of Texas increased its holdings in Centerspace by 59.3% during the 4th quarter. Employees Retirement System of Texas now owns 43,000 shares of the company’s stock worth $2,844,000 after purchasing an additional 16,000 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in shares of Centerspace by 7.3% in the 4th quarter. Public Employees Retirement System of Ohio now owns 23,691 shares of the company’s stock valued at $1,567,000 after purchasing an additional 1,621 shares in the last quarter. Westwood Holdings Group Inc. boosted its stake in shares of Centerspace by 13.4% during the 4th quarter. Westwood Holdings Group Inc. now owns 113,104 shares of the company’s stock valued at $7,482,000 after buying an additional 13,386 shares during the last quarter. Finally, Two Sigma Advisers LP grew its position in shares of Centerspace by 286.3% during the fourth quarter. Two Sigma Advisers LP now owns 19,700 shares of the company’s stock worth $1,303,000 after buying an additional 14,600 shares in the last quarter. Hedge funds and other institutional investors own 79.00% of the company’s stock.

Centerspace Company Profile

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.