Short Interest in Centerspace (NYSE:CSR) Rises By 51.8%

Centerspace (NYSE:CSR) was the recipient of a large increase in short interest in March. As of March 31st, there was short interest totaling 631,762 shares, an increase of 51.8% from the March 15th total of 416,046 shares. Based on an average daily trading volume, of 146,621 shares, the days-to-cover ratio is presently 4.3 days. Approximately 3.8% of the company’s shares are short sold.

Hedge Funds Weigh In On Centerspace

Several hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP grew its holdings in shares of Centerspace by 324.4% in the 4th quarter. Wellington Management Group LLP now owns 855,869 shares of the company’s stock valued at $57,104,000 after acquiring an additional 654,209 shares in the last quarter. Land & Buildings Investment Management LLC grew its holdings in shares of Centerspace by 96.4% in the 3rd quarter. Land & Buildings Investment Management LLC now owns 599,252 shares of the company’s stock valued at $35,296,000 after acquiring an additional 294,086 shares in the last quarter. Long Pond Capital LP grew its holdings in shares of Centerspace by 108.0% in the 4th quarter. Long Pond Capital LP now owns 444,101 shares of the company’s stock valued at $29,630,000 after acquiring an additional 230,638 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Centerspace by 9.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 340,286 shares of the company’s stock valued at $22,704,000 after acquiring an additional 28,809 shares in the last quarter. Finally, Voss Capital LP bought a new position in shares of Centerspace in the 4th quarter valued at about $22,068,000. Institutional investors own 79.00% of the company’s stock.

Centerspace Trading Down 0.1%

Centerspace stock traded down $0.06 during mid-day trading on Wednesday, hitting $62.43. 72,674 shares of the company’s stock were exchanged, compared to its average volume of 147,786. The firm has a market capitalization of $1.05 billion, a P/E ratio of 62.43 and a beta of 0.81. Centerspace has a fifty-two week low of $52.76 and a fifty-two week high of $69.15. 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 company’s 50 day simple moving average is $61.55 and its 200-day simple moving average is $62.80.

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

Centerspace Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 14th. Stockholders of record on Monday, March 30th were issued a $0.77 dividend. The ex-dividend date was Monday, March 30th. This represents a $3.08 annualized dividend and a dividend yield of 4.9%. Centerspace’s dividend payout ratio (DPR) is presently 308.00%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on CSR shares. Wells Fargo & Company cut their price target on Centerspace from $74.00 to $69.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 5th. Weiss Ratings reissued a “hold (c+)” rating on shares of Centerspace in a research note on Monday, December 29th. Piper Sandler raised Centerspace from a “neutral” rating to an “overweight” rating and increased their price target for the company from $69.00 to $72.00 in a research note on Tuesday, April 7th. Wall Street Zen raised Centerspace from a “strong sell” rating to a “sell” rating in a research note on Saturday. Finally, UBS Group increased their price target on Centerspace from $63.00 to $66.00 and gave the company a “neutral” rating in a research note on Thursday, January 8th. Two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $68.83.

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.