Centerspace (NYSE:CSR) Short Interest Up 32.6% in August

Centerspace (NYSE:CSR) was the target of a significant increase in short interest during the month of August. As of August 15th, there was short interest totaling 254,100 shares, an increase of 32.6% from the July 31st total of 191,600 shares. Based on an average trading volume of 110,200 shares, the short-interest ratio is currently 2.3 days. Based on an average trading volume of 110,200 shares, the short-interest ratio is currently 2.3 days.

Analyst Ratings Changes

CSR has been the subject of a number of recent analyst reports. Raymond James Financial upgraded shares of Centerspace from an “outperform” rating to a “strong-buy” rating and lifted their price target for the company from $66.00 to $69.00 in a research report on Thursday, May 15th. Wells Fargo & Company dropped their price objective on shares of Centerspace from $68.00 to $60.00 and set an “equal weight” rating for the company in a report on Wednesday, August 27th. Wall Street Zen cut shares of Centerspace from a “hold” rating to a “sell” rating in a report on Sunday. Finally, UBS Group dropped their price objective 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 research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.75.

Centerspace Stock Down 1.6%

Shares of Centerspace stock opened at $59.56 on Wednesday. The company has a market capitalization of $998.00 million, a P/E ratio of -33.09 and a beta of 0.75. 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 has a 52-week low of $52.76 and a 52-week high of $75.92. The company has a 50 day moving average of $57.75 and a 200 day moving average of $60.58.

Centerspace (NYSE:CSR) last posted its earnings results on Monday, August 4th. The company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.02. Centerspace had a negative return on equity of 2.81% and a negative net margin of 9.13%.The business had revenue of $68.55 million for the quarter, compared to analysts’ expectations of $67.89 million. Centerspace has set its FY 2025 guidance at 4.880-5.000 EPS. As a group, research analysts forecast that Centerspace will post 4.94 EPS for the current fiscal year.

Centerspace Announces Dividend

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

Insider Buying and Selling at Centerspace

In related news, Director John A. Schissel purchased 500 shares of the company’s stock in a transaction on Friday, August 8th. The stock was acquired at an average cost of $54.00 per share, for a total transaction 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 document filed with the SEC, which is available at this link. Also, CFO Bhairav Patel purchased 500 shares of the company’s stock in a transaction on Friday, August 8th. The shares were bought at an average price of $54.00 per share, with a total value of $27,000.00. Following the completion of the transaction, the chief financial officer owned 3,733 shares of the company’s stock, valued at approximately $201,582. The trade was a 15.47% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 1,750 shares of company stock worth $95,325 over the last three months. Insiders own 0.44% of the company’s stock.

Hedge Funds Weigh In On Centerspace

Institutional investors and hedge funds have recently made changes to their positions in the stock. Illinois Municipal Retirement Fund lifted its holdings in Centerspace by 2.6% in the 1st quarter. Illinois Municipal Retirement Fund now owns 8,726 shares of the company’s stock valued at $565,000 after purchasing an additional 225 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Centerspace by 0.3% during the first quarter. Vanguard Group Inc. now owns 2,603,360 shares of the company’s stock worth $168,568,000 after buying an additional 8,994 shares in the last quarter. Cbre Investment Management Listed Real Assets LLC lifted its stake in Centerspace by 157.4% during the first quarter. Cbre Investment Management Listed Real Assets LLC now owns 57,468 shares of the company’s stock worth $3,721,000 after purchasing an additional 35,139 shares during the last quarter. Deutsche Bank AG lifted its stake in Centerspace by 28.5% during the fourth quarter. Deutsche Bank AG now owns 19,400 shares of the company’s stock worth $1,283,000 after purchasing an additional 4,301 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its stake in Centerspace by 21.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 24,322 shares of the company’s stock valued at $1,575,000 after buying an additional 4,369 shares during the last quarter. 79.00% of the stock is owned by institutional investors and hedge funds.

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.