Centerspace (NYSE:CSR) Shares Shorted: Short Interest Up 48.7% in September

Key Points

• Centerspace’s short interest surged 48.7% to 918,128 shares as of September 15, representing 5.5% of shares outstanding and a 2.0-day days-to-cover ratio.
• The stock traded near $54.47, close to its 52-week low, while analysts maintained an overall “Hold” consensus with an average price target of $64.00.
• Centerspace declared a quarterly dividend of $0.77, equivalent to an annualized $3.08 payout and a 5.7% yield; institutional investors own approximately 79% of the company.

Centerspace (NYSE:CSR - Get Free Report) saw a significant growth in short interest in the month of September. As of September 15th, there was short interest totaling 918,128 shares, a growth of 48.7% from the August 31st total of 617,467 shares. Currently, 5.5% of the company's shares are sold short. Based on an average daily trading volume, of 456,791 shares, the days-to-cover ratio is presently 2.0 days.

Centerspace Trading Up 0.1%

Shares of NYSE CSR traded up $0.07 during mid-day trading on Thursday, reaching $54.47. The company had a trading volume of 246,333 shares, compared to its average volume of 169,186. The business's 50-day moving average is $55.08 and its 200-day moving average is $58.93. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.87. The stock has a market cap of $914.58 million, a price-to-earnings ratio of 43.23 and a beta of 0.86. Centerspace has a 52 week low of $52.00 and a 52 week high of $69.61.

Centerspace (NYSE:CSR - Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The company reported ($0.07) earnings per share for the quarter, beating analysts' consensus estimates of ($0.13) by $0.06. The company had revenue of $65.78 million during the quarter, compared to analyst estimates of $66.29 million. Centerspace had a net margin of 7.97% and a return on equity of 2.58%. Centerspace has set its FY 2026 guidance at 4.580-4.680 EPS. Equities analysts expect that Centerspace will post 4.67 earnings per share for the current year.

Centerspace Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 14th. Investors of record on Tuesday, September 29th will be issued a $0.77 dividend. The ex-dividend date is Tuesday, September 29th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 5.7%. Centerspace's payout ratio is presently 244.44%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on CSR shares. Wells Fargo & Company lowered their target price on shares of Centerspace from $60.00 to $57.00 and set an "equal weight" rating for the company in a report on Tuesday, September 1st. Zacks Research downgraded shares of Centerspace from a "hold" rating to a "strong sell" rating in a report on Tuesday, August 18th. Weiss Ratings lowered shares of Centerspace from a "hold (c)" rating to a "hold (c-)" rating in a research report on Wednesday, August 19th. Piper Sandler decreased their price objective on shares of Centerspace from $60.00 to $58.00 and set a "neutral" rating for the company in a research note on Thursday, August 27th. Finally, Royal Bank Of Canada dropped their target price on Centerspace from $67.00 to $64.00 and set an "outperform" rating for the company in a research report on Wednesday, August 5th. Two research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $64.00.

Institutional Investors Weigh In On Centerspace

Institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. bought a new position in shares of Centerspace during the 2nd quarter worth $167,912,000. Voss Capital LP bought a new stake in shares of Centerspace in the fourth quarter valued at about $22,068,000. Pacific Heights Asset Management LLC bought a new stake in shares of Centerspace in the second quarter valued at about $16,857,000. Dimensional Fund Advisors LP lifted its stake in Centerspace by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 238,535 shares of the company's stock worth $13,704,000 after acquiring an additional 2,139 shares during the period. Finally, Bank of New York Mellon Corp purchased a new stake in Centerspace in the second quarter worth about $7,190,000. 79.00% of the stock is owned by institutional investors.

Centerspace Company Profile

Centerspace NYSE: CSR is a self-administered and self-managed real estate investment trust focused on the ownership, management and operation of multifamily apartment communities. The company generates revenue primarily through apartment rents and related resident services, while seeking to provide well-maintained housing in markets with attractive employment and population trends.

Centerspace's portfolio is concentrated in the Upper Midwest and Mountain West, with properties serving residents in states that have included Colorado, Minnesota, Montana, North Dakota, South Dakota and Wisconsin.

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