Centerspace (NYSE:CSR) Sees Strong Trading Volume – Should You Buy?

Centerspace (NYSE:CSR) saw unusually-high trading volume on Tuesday . Approximately 274,065 shares changed hands during mid-day trading, an increase of 114% from the previous session’s volume of 128,141 shares.The stock last traded at $62.9310 and had previously closed at $63.05.

Wall Street Analysts Forecast Growth

CSR has been the subject of a number of recent research reports. Wells Fargo & Company decreased their target price on Centerspace from $74.00 to $69.00 and set an “equal weight” rating for the company in a research report on Thursday, March 5th. Royal Bank Of Canada raised their target price on Centerspace from $68.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, February 19th. UBS Group raised their target price on Centerspace from $63.00 to $66.00 and gave the stock a “neutral” rating in a research report on Thursday, January 8th. Wall Street Zen raised Centerspace from a “strong sell” rating to a “sell” rating in a research report on Saturday. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Centerspace in a research report on Monday, December 29th. Two analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Centerspace currently has a consensus rating of “Hold” and a consensus price target of $68.83.

Centerspace Stock Down 0.3%

The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.86. The stock has a 50-day simple moving average of $61.62 and a 200-day simple moving average of $62.78. The firm has a market capitalization of $1.05 billion, a PE ratio of 62.74 and a beta of 0.81.

Centerspace (NYSE:CSR) last announced its quarterly earnings results on Tuesday, February 17th. The company reported ($1.10) earnings per share for the quarter, missing the consensus estimate of $1.21 by ($2.31). The company had revenue of $66.62 million during the quarter, compared to analysts’ expectations of $69.77 million. Centerspace had a net margin of 6.25% and a return on equity of 2.00%. Centerspace has set its FY 2026 guidance at 4.810-5.050 EPS. Analysts forecast that Centerspace will post 4.94 EPS for the current year.

Centerspace Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 14th. Stockholders of record on Monday, March 30th will be given a $0.77 dividend. The ex-dividend date is Monday, March 30th. This represents a $3.08 annualized dividend and a dividend yield of 4.9%. Centerspace’s payout ratio is 308.00%.

Hedge Funds Weigh In On Centerspace

Several hedge funds have recently made changes to their positions in CSR. Royal Bank of Canada grew its position in shares of Centerspace by 199.5% in the first quarter. Royal Bank of Canada now owns 15,720 shares of the company’s stock valued at $1,019,000 after purchasing an additional 10,472 shares in the last quarter. AQR Capital Management LLC grew its position in shares of Centerspace by 32.5% in the first quarter. AQR Capital Management LLC now owns 4,891 shares of the company’s stock valued at $317,000 after purchasing an additional 1,200 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Centerspace by 2.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,790 shares of the company’s stock valued at $958,000 after purchasing an additional 287 shares in the last quarter. Millennium Management LLC grew its position in shares of Centerspace by 307.3% in the first quarter. Millennium Management LLC now owns 184,051 shares of the company’s stock valued at $11,917,000 after purchasing an additional 138,861 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in shares of Centerspace by 17.8% in the first quarter. Goldman Sachs Group Inc. now owns 138,676 shares of the company’s stock valued at $8,979,000 after purchasing an additional 20,992 shares in the last quarter. 79.00% of the stock is currently owned by hedge funds and other 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. Centerspace was named a Top Workplace for the fourth consecutive year in 2023 by the Minneapolis Star Tribune.