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

Centerspace (NYSE:CSR) was the recipient of a large 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. Based on an average daily volume of 456,791 shares, the short-interest ratio is presently 2.0 days. Currently, 5.5% of the company’s stock are sold short.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CSR. Pacific Heights Asset Management LLC acquired a new stake in Centerspace in the second quarter worth about $16,857,000. Public Employees Retirement System of Ohio acquired a new position in shares of Centerspace during the second quarter valued at about $1,091,000. Corient Private Wealth LP acquired a new position in shares of Centerspace during the second quarter valued at about $574,000. Bank of America Corp DE purchased a new position in shares of Centerspace in the 2nd quarter valued at approximately $1,041,000. Finally, Jupiter Topco LLC purchased a new position in shares of Centerspace in the 2nd quarter valued at approximately $354,000. 79.00% of the stock is owned by institutional investors and hedge funds.

Centerspace Stock Up 0.1%

Shares of NYSE:CSR traded up $0.07 during trading on Thursday, reaching $54.47. The stock had a trading volume of 246,333 shares, compared to its average volume of 169,186. The firm’s 50-day simple moving average is $55.08 and its 200 day simple 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. Centerspace has a one year low of $52.00 and a one year high of $69.61. The company has a market capitalization of $914.58 million, a P/E ratio of 43.23 and a beta of 0.86.

Centerspace (NYSE:CSR) last posted its quarterly earnings data on Monday, August 3rd. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.06. The firm 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. As a group, research analysts expect that Centerspace will post 4.67 EPS for the current fiscal year.

Centerspace Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 14th. Stockholders of record on Tuesday, September 29th will be issued a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 5.7%. The ex-dividend date is Tuesday, September 29th. Centerspace’s dividend payout ratio is currently 244.44%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CSR. UBS Group cut their price objective on shares of Centerspace from $70.00 to $68.00 and set a “neutral” rating on the stock in a report on Tuesday, September 15th. Wells Fargo & Company lowered their target price on Centerspace from $60.00 to $57.00 and set an “equal weight” rating for the company in a report on Tuesday, September 1st. Compass Point raised Centerspace from a “neutral” rating to a “buy” rating and increased their target price for the company from $64.50 to $80.00 in a research report on Wednesday, September 9th. Weiss Ratings downgraded Centerspace from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, August 19th. Finally, Wall Street Zen raised Centerspace from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Two equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $64.00.

About Centerspace

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.