Centerspace (NYSE:CSR) Sees Strong Trading Volume – Time to Buy?

Centerspace (NYSE:CSR) saw strong trading volume on Wednesday . 82,872 shares were traded during mid-day trading, a decline of 1% from the previous session’s volume of 83,837 shares.The stock last traded at $61.87 and had previously closed at $61.67.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on CSR shares. Wedbush began coverage on shares of Centerspace in a report on Tuesday, December 17th. They set a “neutral” rating and a $72.00 price objective on the stock. Raymond James cut shares of Centerspace from an “outperform” rating to a “market perform” rating in a research note on Monday, October 21st. Janney Montgomery Scott raised shares of Centerspace from a “neutral” rating to a “buy” rating and set a $72.00 price objective for the company in a report on Wednesday, January 15th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $76.00 target price on shares of Centerspace in a report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Centerspace has a consensus rating of “Hold” and a consensus target price of $74.86.

Centerspace Stock Up 0.5 %

The company’s 50 day simple moving average is $64.22 and its 200-day simple moving average is $69.39. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.05 and a current ratio of 0.05. The firm has a market capitalization of $1.03 billion, a PE ratio of -38.49 and a beta of 0.90.

Centerspace Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Monday, December 30th were given a $0.75 dividend. The ex-dividend date was Monday, December 30th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 4.84%. Centerspace’s dividend payout ratio (DPR) is presently -186.33%.

Hedge Funds Weigh In On Centerspace

A number of institutional investors have recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC grew its holdings in shares of Centerspace by 370.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 381 shares of the company’s stock worth $25,000 after purchasing an additional 300 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Centerspace by 35.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 579 shares of the company’s stock valued at $41,000 after purchasing an additional 150 shares during the last quarter. Loomis Sayles & Co. L P grew its stake in Centerspace by 3,131.6% in the 3rd quarter. Loomis Sayles & Co. L P now owns 614 shares of the company’s stock worth $43,000 after buying an additional 595 shares in the last quarter. KBC Group NV increased its holdings in shares of Centerspace by 75.9% in the 4th quarter. KBC Group NV now owns 1,080 shares of the company’s stock worth $71,000 after buying an additional 466 shares during the last quarter. Finally, Van ECK Associates Corp raised its position in shares of Centerspace by 15.2% during the 3rd quarter. Van ECK Associates Corp now owns 2,626 shares of the company’s stock valued at $186,000 after buying an additional 347 shares in the last quarter. 79.00% of the stock is currently owned by 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.