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

Centerspace (NYSE:CSR) was the recipient of a large growth in short interest in the month of 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.

Insider Buying and Selling

In other news, Director John A. Schissel bought 500 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were purchased at an average price of $56.40 per share, for a total transaction of $28,200.00. Following the acquisition, the director now directly owns 9,522 shares of the company’s stock, valued at approximately $537,040.80. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.92% of the company’s stock.

Hedge Funds Weigh In On Centerspace

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

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on CSR shares. Royal Bank of Canada boosted their price objective on shares of Centerspace from $66.00 to $68.00 and gave the stock an “outperform” rating in a report on Wednesday. Piper Sandler restated a “neutral” rating and set a $63.00 price objective on shares of Centerspace in a report on Tuesday, March 26th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $66.29.

Centerspace Price Performance

Shares of Centerspace stock opened at $68.84 on Thursday. The company has a current ratio of 0.04, a quick ratio of 0.03 and a debt-to-equity ratio of 0.77. The firm’s 50-day simple moving average is $58.55 and its 200-day simple moving average is $55.99. Centerspace has a twelve month low of $46.74 and a twelve month high of $69.61.

Centerspace (NYSE:CSR) last issued its earnings results on Monday, April 29th. The company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of $1.12 by ($1.49). Centerspace had a negative net margin of 2.38% and a negative return on equity of 0.73%. The business had revenue of $64.51 million for the quarter, compared to analyst estimates of $65.30 million. During the same quarter last year, the firm posted $1.07 earnings per share. Equities analysts forecast that Centerspace will post 4.76 EPS for the current fiscal year.

Centerspace Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 8th. Stockholders of record on Thursday, March 28th were given a dividend of $0.75 per share. This is a positive change from Centerspace’s previous quarterly dividend of $0.73. This represents a $3.00 annualized dividend and a dividend yield of 4.36%. The ex-dividend date of this dividend was Wednesday, March 27th. Centerspace’s payout ratio is -375.00%.

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.