Centerspace (NYSE:CSR) Short Interest Update

Centerspace (NYSE:CSR) was the target of a large growth in short interest in the month of October. As of October 15th, there was short interest totaling 465,700 shares, a growth of 40.3% from the September 30th total of 332,000 shares. Currently, 2.8% of the shares of the company are short sold. Based on an average trading volume of 115,800 shares, the days-to-cover ratio is currently 4.0 days. Based on an average trading volume of 115,800 shares, the days-to-cover ratio is currently 4.0 days. Currently, 2.8% of the shares of the company are short sold.

Insider Activity

In other news, CFO Bhairav Patel acquired 500 shares of the company’s stock in a transaction on Friday, August 8th. The shares were bought at an average cost of $54.00 per share, with a total value of $27,000.00. Following the purchase, the chief financial officer owned 3,733 shares of the company’s stock, valued at $201,582. This represents a 15.47% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Anne Olson acquired 750 shares of the company’s stock in a transaction on Friday, August 8th. The stock was purchased at an average cost of $55.10 per share, for a total transaction of $41,325.00. Following the completion of the purchase, the chief executive officer directly owned 19,496 shares in the company, valued at $1,074,229.60. This trade represents a 4.00% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have acquired 1,750 shares of company stock valued at $95,325 in the last ninety days. 0.44% of the stock is currently owned by company insiders.

Institutional Trading of Centerspace

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Resona Asset Management Co. Ltd. grew its position in Centerspace by 12.7% in the third quarter. Resona Asset Management Co. Ltd. now owns 7,502 shares of the company’s stock valued at $433,000 after acquiring an additional 844 shares in the last quarter. Samalin Investment Counsel LLC acquired a new stake in Centerspace in the third quarter valued at approximately $219,000. Vert Asset Management LLC grew its position in Centerspace by 6.8% in the third quarter. Vert Asset Management LLC now owns 6,812 shares of the company’s stock valued at $401,000 after acquiring an additional 436 shares in the last quarter. Inscription Capital LLC acquired a new stake in Centerspace in the third quarter valued at approximately $276,000. Finally, Pacific Heights Asset Management LLC grew its position in Centerspace by 12.5% in the third quarter. Pacific Heights Asset Management LLC now owns 225,000 shares of the company’s stock valued at $13,252,000 after acquiring an additional 25,000 shares in the last quarter. Institutional investors and hedge funds own 79.00% of the company’s stock.

Centerspace Trading Up 2.7%

NYSE:CSR traded up $1.61 on Tuesday, reaching $60.61. The stock had a trading volume of 162,421 shares, compared to its average volume of 105,464. Centerspace has a 12-month low of $52.76 and a 12-month high of $75.92. The firm’s fifty day moving average is $58.96 and its two-hundred day moving average is $59.60. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.05 and a quick ratio of 0.05. The company has a market cap of $1.02 billion, a price-to-earnings ratio of -33.67 and a beta of 0.73.

Centerspace (NYSE:CSR) last posted its quarterly earnings data on Monday, November 3rd. The company reported $1.19 EPS for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.03). Centerspace had a negative net margin of 9.13% and a negative return on equity of 2.81%. The company had revenue of $71.40 million for the quarter, compared to analyst estimates of $69.07 million. Centerspace has set its FY 2025 guidance at 4.880-4.960 EPS. Equities analysts expect that Centerspace will post 4.94 EPS for the current fiscal year.

Centerspace Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Monday, September 29th were given a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date of this dividend was Monday, September 29th. Centerspace’s dividend payout ratio is -171.11%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on CSR shares. Weiss Ratings reissued a “sell (d+)” rating on shares of Centerspace in a research note on Wednesday, October 8th. Cantor Fitzgerald started coverage on shares of Centerspace in a research note on Wednesday, October 1st. They issued a “neutral” rating and a $62.00 price objective on the stock. UBS Group dropped their price objective on shares of Centerspace from $67.00 to $60.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 15th. Wells Fargo & Company lowered their price target on shares of Centerspace from $68.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 27th. Finally, Wall Street Zen cut shares of Centerspace from a “hold” rating to a “sell” rating in a research note on Sunday, September 7th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $68.00.

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.