Centerspace (NYSE:CSR) Short Interest Down 5.7% in January

Centerspace (NYSE:CSR) was the target of a large decline in short interest during the month of January. As of January 31st, there was short interest totalling 236,600 shares, a decline of 5.7% from the January 15th total of 250,800 shares. Based on an average trading volume of 103,200 shares, the short-interest ratio is presently 2.3 days.

Analyst Ratings Changes

Several research firms have commented on CSR. Janney Montgomery Scott upgraded Centerspace from a “neutral” rating to a “buy” rating and set a $72.00 target price for the company in a research report on Wednesday, January 15th. Royal Bank of Canada reiterated an “outperform” rating and issued a $76.00 price objective on shares of Centerspace in a report on Wednesday, October 30th. Finally, Wedbush assumed coverage on shares of Centerspace in a research report on Tuesday, December 17th. They set a “neutral” rating and a $72.00 target price on the stock. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $74.86.

Institutional Investors Weigh In On Centerspace

Several institutional investors and hedge funds have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Centerspace by 35.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 579 shares of the company’s stock worth $41,000 after buying an additional 150 shares in the last quarter. Asset Management One Co. Ltd. boosted its stake in Centerspace by 0.7% during the third quarter. Asset Management One Co. Ltd. now owns 23,116 shares of the company’s stock worth $1,629,000 after acquiring an additional 170 shares in the last quarter. State of Alaska Department of Revenue increased its stake in Centerspace by 1.3% in the third quarter. State of Alaska Department of Revenue now owns 16,110 shares of the company’s stock valued at $1,134,000 after purchasing an additional 208 shares in the last quarter. Summit Investment Advisors Inc. boosted its position in shares of Centerspace by 15.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 1,732 shares of the company’s stock worth $115,000 after purchasing an additional 229 shares in the last quarter. Finally, Yousif Capital Management LLC grew its stake in shares of Centerspace by 4.6% in the 4th quarter. Yousif Capital Management LLC now owns 6,226 shares of the company’s stock valued at $412,000 after buying an additional 276 shares during the period. Institutional investors own 79.00% of the company’s stock.

Centerspace Price Performance

Centerspace stock opened at $63.86 on Thursday. The stock’s 50 day moving average is $63.30 and its 200 day moving average is $69.08. Centerspace has a one year low of $54.22 and a one year high of $76.16. The firm has a market cap of $1.06 billion, a P/E ratio of -39.66 and a beta of 0.90. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.05 and a quick ratio of 0.05.

Centerspace (NYSE:CSR) last issued its quarterly earnings results on Tuesday, February 18th. The company reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $1.36. Centerspace had a negative net margin of 5.57% and a negative return on equity of 1.72%. The firm had revenue of $66.41 million for the quarter, compared to the consensus estimate of $65.96 million. As a group, research analysts expect that Centerspace will post 4.85 EPS for the current year.

Centerspace Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 8th. Stockholders of record on Friday, March 28th will be paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.82%. This is an increase from Centerspace’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Friday, March 28th. Centerspace’s payout ratio is currently -186.33%.

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.