Short Interest in Centerspace (NYSE:CSR) Rises By 5.2%

Centerspace (NYSE:CSR - Get Free Report) was the target of a large growth in short interest in April. As of April 15th, there was short interest totalling 205,900 shares, a growth of 5.2% from the March 31st total of 195,800 shares. Based on an average trading volume of 83,600 shares, the days-to-cover ratio is currently 2.5 days.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on CSR shares. Piper Sandler restated a "neutral" rating and issued a $63.00 target price on shares of Centerspace in a research note on Tuesday, March 26th. Royal Bank of Canada lifted their price objective on Centerspace from $66.00 to $68.00 and gave the company an "outperform" rating in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $66.29.

Centerspace Trading Up 2.4 %

NYSE CSR traded up $1.59 on Wednesday, reaching $68.84. The stock had a trading volume of 141,789 shares, compared to its average volume of 82,270. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of -86.00, a P/E/G ratio of 1.95 and a beta of 0.93. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.74. Centerspace has a 12-month low of $46.74 and a 12-month high of $69.61. The stock has a fifty day moving average price of $58.55 and a two-hundred day moving average price of $55.99.

Centerspace (NYSE:CSR - Get Free Report) last posted its quarterly earnings data on Monday, April 29th. The company reported ($0.37) earnings per share for the quarter, missing analysts' consensus estimates of $1.12 by ($1.49). The company had revenue of $64.51 million for the quarter, compared to analysts' expectations of $65.30 million. Centerspace had a negative return on equity of 0.72% and a negative net margin of 2.38%. During the same period in the prior year, the company posted $1.07 EPS. As a group, sell-side analysts forecast that Centerspace will post 4.74 EPS for the current fiscal year.

Centerspace Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 8th. Shareholders of record on Thursday, March 28th were given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 4.36%. This is an increase from Centerspace's previous quarterly dividend of $0.73. The ex-dividend date was Wednesday, March 27th. Centerspace's payout ratio is presently -375.00%.

Insider Buying and Selling at Centerspace

In other Centerspace news, Director John A. Schissel acquired 500 shares of the stock in a transaction dated Monday, March 11th. The stock was purchased at an average price of $56.40 per share, with a total value of $28,200.00. Following the transaction, the director now directly owns 9,522 shares of the company's stock, valued at $537,040.80. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.92% of the company's stock.

Institutional Trading of Centerspace

A number of institutional investors have recently bought and sold shares of CSR. ICA Group Wealth Management LLC purchased a new stake in shares of Centerspace in the fourth quarter valued at $55,000. Van ECK Associates Corp increased its stake in Centerspace by 19.7% during the fourth quarter. Van ECK Associates Corp now owns 2,118 shares of the company's stock worth $123,000 after acquiring an additional 348 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Centerspace in the fourth quarter worth about $149,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Centerspace in the first quarter worth about $173,000. Finally, DekaBank Deutsche Girozentrale boosted its position in shares of Centerspace by 18.8% in the third quarter. DekaBank Deutsche Girozentrale now owns 3,709 shares of the company's stock worth $224,000 after buying an additional 587 shares during the period. 79.00% of the stock is currently owned by hedge funds and other institutional investors.

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.